“Afrexim bank is doing what it can to support the AU’s COVID-19 vaccine agenda in Africa” – Oramah
The President of the African Export-Import Bank, Benedict Oramah made a summary of Africa’s vaccine need while talking to CNBC in a recent interview that focused on the Afrexim bank and the African Continental Free Trade Agreement, AfCFTA.
He said that Africa needs to vaccinate at least 60% of its population to achieve herd immunity, get rid of the virus, avoid outbreaks and get the economies in Africa working again.
According to Oramah, the statement is a reiteration of what the Africa CDC, told the African Union, AU.
- One in five persons in Nigeria have had COVID-19
- AstraZeneca COVID-19 vaccine approved for use in Nigeria – NAFDAC
Since its launch, the disruption caused by the pandemic is one of the barriers to the flow of trade within the AfCFTA and the efforts of the Afrexim bank to open up the continent for trade.
Therefore, COVID-19 must be dealt with and gotten rid of permanently, he noted. To achieve that, a minimum of 60% needs to get the COVID-19 shots to avoid closing down economies in Africa.
Gavi/COVAX Vaccine for Africa
The COVAX/Gavi vaccine facility promised to provide vaccine for 20% of the African population. According to Oramah, Afrexim bank is doing what it can to support the AU’s vaccination agenda, complement that number and ensure that over half the African population COVID-19 vaccine.
- Nigeria Plans To Roll Out Oxford-AstraZeneca COVID-19 Vaccine Soon
- WHO Addresses COVID-19 Vaccine Hesitancy, Says Countries Will Decide
The COVID-19 African Vaccine Acquisition Task Team, AVATT which Oramah is a member looked for solutions to complement the GAVI/COVAX vaccines.
The team found that they could provide 270 million doses at the cost of $1.86bn. Combining 270 million doses with what the GAVI/COVAX will deliver, the vaccination will reach about 35-40%.
AVATT got the approval of $2bn dollars from the Afrexim board of directors to support the procurement of COVID-19 vaccines. However, there is still 20% that will need the vaccination and the team needs more money to secure them and raise the quantity.