AU (African Union) member states have signed a deal with Johnson & Johnson for 400 million doses of COVID-19 vaccines. The states will first have access to 220 million doses of the single-shot COVID-19 vaccine, with a potential to order an additional 180 million doses.
The transaction was made possible through the African Export-Import Bank’s (Afreximbank) $2 billion facility. The bank also acted as Financial and Transaction Advisers, Guarantors, Installment Payment Advisers and Payment Agents for the deal.
Most of the vaccines will be produced at the pharmaceutical manufacturing plant in South Africa, which Aspen Pharma operates. Furthermore, African countries will get the vaccines through the African Medical Supplies Platform (AMSP) over a period of eighteen months.
AU member states will be able to purchase the vaccines either using cash, or a facility from Afreximbank.
Afreximbank is proud to be associated with this collective effort. We look forward to beginning the $2 billion facility deployment, which is approved by the Bank’s Board of Directors. This financing will also support Intra-African Trade, and we have already begun engagement with our financial partners to secure more funding that would support procurement if Africa decides to further procure the additional 180 million doses.Professor Benedict Oramah, President of Afreximbank