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South Africa: African Development Bank and Biovac sign $15 million agreement to advance Africa’s first end-to-end cholera vaccine production

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African Development Bank

Financing will help triple Biovac’s annual production capacity up to 500 million doses, create 340 jobs, and strengthen South Africa’s role as a continental vaccine manufacturing hub

PRETORIA, South Africa, July 24, 2026/APO Group/ –The African Development Bank Group (www.AfDB.org) has finalised a loan of up to $15 million to the Biologicals and Vaccines Institute of South Africa Ltd (Biovac) (https://apo-opa.co/3RQJKp2) to support a new multi-vaccine manufacturing facility in Cape Town that will significantly expand Africa’s domestic capacity to produce vaccines.

 

The financing forms part of an expansion programme that will raise Biovac’s total annual manufacturing capacity up to 500 million doses. Once complete, Biovac is expected to become Africa’s first end-to-end producer of oral cholera vaccine and South Africa’s first locally produced inactivated polio vaccine, and the first on the continent to produce inactivated polio vaccine through technology-transfer partnerships with Sanofi, the International Vaccine Institute, Biological E Limited, EuBiologics, and Bharat Biotech. For more than two decades, Biovac has been South Africa’s primary vaccine supplier,

Africa currently imports more than 99 percent of the vaccines it uses, even though the continent carries a disproportionate share of the world’s vaccine-preventable disease burden. In response, the African Union aims to produce 60 percent of the continent’s vaccines locally by 2040. (https://apo-opa.co/4c0qcoV) Beyond vaccines, the project is projected to create around 340 full-time jobs, with an estimated 43 percent of these roles going to women and 30 percent going to youths. Biovac, which already employs more than 300 staff — half of them women — will also expand training in vaccine manufacturing, quality control, and regulatory science in partnership with local universities and other regional training institutions.

“This investment in Biovac is about much more than expanding vaccine production capacity. It is about building Africa’s health sovereignty, strengthening regional value chains, and creating industrial capabilities that will enable the continent to respond more effectively to future health emergencies,” said Solomon Quaynor, the Bank Group’s Vice President for Private Sector, Infrastructure and Industrialisation. “By supporting Africa’s first end-to-end oral cholera vaccine manufacturing facility and the continent’s first local production of inactivated polio vaccine, we are helping transform Africa from a consumer of imported vaccines into a producer of critical health solutions.”

The project will shift the narrative from majority-imported vaccines to majority-exported vaccines

“We welcome the African Development Bank as a partner in this landmark project and are proud that an institution so central to Africa’s development sees in Biovac the same opportunity we see, a chance to fundamentally shift the continent’s relationship with its own health security,” said Biovac Chief Executive Officer Morena Makhoana. “The project will shift the narrative from majority-imported vaccines to majority-exported vaccines. This is part of changing that reality permanently. This is what Africa’s health sovereignty looks like in practice, and we are honoured to be building it.”

The Bank Group’s support for Biovac aligns with its broader commitment to developing Africa’s pharmaceutical and vaccine manufacturing ecosystem, creating quality jobs, fostering innovation, and advancing African Union targets.

“This project allows one of Africa’s most experienced manufacturers to scale up exactly where the need is greatest: vaccines that protect children from cholera, polio, pneumonia and meningitis,” said Kennedy Mbekeani, the Bank Group’s Director General for Southern Africa, and Country Manager for South Africa.

The expansion project is also designed to plug directly into the continent’s emerging vaccine-financing architecture, including Gavi’s African Vaccine Manufacturing Accelerator (AVMA), (https://apo-opa.co/4c1QFT4) a $1.2 billion mechanism that rewards African manufacturers with milestone payments once they reach WHO prequalification, plus a per-dose top-up on vaccines supplied through UNICEF tenders.

Biovac’s new facility is expected to be completed by 2028 and will initially produce vaccines for cholera (oral) and subsequently for polio (IPV), pneumonia (PCV), and meningitis (MenX).

The Bank joins a syndicate of development finance institutions backing the project. The syndicate is led by the International Finance Corporation (IFC) and supported by a long-term quasi-equity facility from the Human Development Accelerator (HDX) programme, a European Union-backed initiative implemented by the European Investment Bank in partnership with the Gates Foundation. The package is complemented by grant funding and support from other global health partners for technology transfers that will bring new vaccines into Biovac’s portfolio.

Biovac is a South African biopharmaceutical company established in 2003 in partnership with the South African government to develop local vaccine manufacturing capability. Based in Cape Town, it currently manufactures and supplies much-needed routine paediatric vaccines and has delivered more than 450 million vaccine doses to countries across Southern Africa, including COVID-19 vaccines.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Energy

Africa Finance Corporation (AFC) Deepens Angolan Investment Drive as Angola Oil & Gas (AOG) 2026 Elite Sponsor

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Africa Finance Corporation

With close to $1 billion invested in the country and a growing role in energy and infrastructure financing, the institution is positioning itself as a strategic financial partner for Angola

Multilateral finance institution the Africa Finance Corporation (AFC) is expanding its role in Angola’s energy and infrastructure sectors, having invested close to $1 billion across the country’s power, rail, logistics and critical minerals industries. Reflecting its growing commitment to the market, the institution has joined the Angola Oil & Gas (AOG) Conference & Exhibition as an Elite Sponsor ahead of this September’s event in Luanda.

 

The sponsorship comes as AFC and Angola continue to strengthen their partnership. In 2025, Angola became a sovereign shareholder in AFC through a landmark $184.8 million equity investment commitment, reinforcing the institution’s role in mobilizing capital for strategic projects across the country. Angola’s Sovereign Wealth Fund also invested $25 million in AFC, further demonstrating the country’s confidence in the pan-African infrastructure financier.

That partnership is already translating into major transactions. In July 2026, AFC reached financial close on a $753 million financing package for the Lobito Corridor Railway Project, serving as Co-Financial Adviser alongside Eaglestone. The financing includes $553 million from the U.S. International Development Finance Corporation and $200 million from the Development Bank of Southern Africa and will support the rehabilitation, upgrade and long-term operation of the 1,300-km railway linking the Port of Lobito with the Democratic Republic of Congo border.

Beyond transport infrastructure, AFC is also supporting Angola’s upstream oil and gas industry. The Corporation invested $60 million as part of a $190 million debt facility backing Angolan independent Etu Energias’ acquisition of interests in offshore Blocks 14 and 14K. The transaction enabled Etu Energias to acquire a 20% stake in Block 14 and a 10% stake in Block 14K, doubling its net production at the time from approximately 9,000 to 19,000 barrels per day.

AFC’s participation at AOG 2026 reflects its expanding footprint in Angola and creates new opportunities to engage with project developers, operators and government stakeholders. As the country’s premier oil and gas event, AOG has established itself as the leading platform for advancing investment, financing and partnerships across Angola’s hydrocarbon value chain.

Taking place on September 9-10, with a pre-conference program on September 8, AOG 2026 will bring together government officials, financiers, operators, service companies and investors to examine the opportunities shaping Angola’s energy future. As an Elite Sponsor, AFC will showcase its expertise in structuring and mobilizing capital for large-scale African infrastructure and energy projects while reinforcing its long-term commitment to Angola’s economic development.

Distributed by APO Group on behalf of Energy Capital & Power.

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Sputnik Africa Joins African Energy Week 2026 as Media Partner

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African Energy Chamber

Sputnik Africa joins African Energy Week 2026 as a Media Partner, expanding international coverage of Africa’s energy investment opportunities and partnerships

CAPE TOWN, South Africa, July 28, 2026/APO Group/ –Sputnik Africa has joined African Energy Week (AEW) 2026 as an official Media Partner, expanding the event’s international media reach ahead of the conference taking place on October 12-16 in Cape Town. The partnership strengthens global visibility for Africa’s premier energy investment platform.

As an official Media Partner, Sputnik Africa will help amplify discussions surrounding investment opportunities, policy developments and commercial partnerships emerging from the conference. The collaboration broadens AEW’s engagement with audiences across Africa and internationally while expanding coverage of major announcements, strategic dialogues and project developments taking place throughout the event.

The 2026 program features an expanded agenda focused on investment mobilization across the energy value chain. Town Hall sessions will examine fiscal reforms and regulatory competitiveness, while the Upstream E&P Forum will address frontier exploration, gas development and regional cooperation. dedicated finance, downstream and technology tracks will further explore infrastructure investment, AI adoptions and digital transformation.

Country spotlights will showcase licensing rounds, upstream opportunities and national reform programs from African producers seeking new investment. These sessions will provide international companies and financial institutions with direct access to policymakers and project developers while highlighting commercially attractive opportunities spanning hydrocarbons, power generation, infrastructure and emerging energy technologies.

African Energy Week has always been about connecting Africa’s energy opportunities with global investors, technology leaders and strategic partners

As such, Sputnik’s participation reflects its growing presence across the continent through multilingual news coverage and regional broadcasting platforms. Publishing in English, French, Swahili and Amharic, the outlet covers diplomacy, business, infrastructure, technology and economic developments affecting African markets while expanding distribution through digital platforms, FM radio and institutional media partnerships.

In recent months, Sputnik Africa has expanded coverage of Russia-Africa economic cooperation, infrastructure investment, transport connectivity and energy collaboration. The platform has also reported extensively on discussions surrounding nuclear energy, industrial development, AI governance and broader Global South partnerships, reflecting growing international interest in Africa’s evolving economic landscape.

The organization has steadily expanded its physical footprint since establishing its first African editorial center in Addis Ababa, Ethiopia, in February 2025. The bureau serves as a production hub for English and Amharic programming while supporting locally produced reporting and strengthening the organization’s long-term presence on the continent.

Operational growth continued through the launch of FM broadcasting services in Ethiopia before expanding radio operations into additional African markets, including Burkina Faso. Sputnik Africa has also broadened institutional engagement through journalism training initiatives and educational partnerships, including collaboration with the University of Education, Winneba in Ghana under its SputnikPro program.

“African Energy Week has always been about connecting Africa’s energy opportunities with global investors, technology leaders and strategic partners. Sputnik Africa’s participation as a media partner expands the reach of those conversations, helping showcase the projects, policies and partnerships that are driving the continent’s energy future to audiences across Africa and beyond,” says NJ Ayuk, Executive Chairman, African Energy Chamber.

The partnership between Sputnik Africa and AEW 2026 reinforces the conference’s commitment to engaging a broad international media network capable of showcasing Africa’s investment story to global audiences. By expanding coverage across multiple languages and regions, the collaboration supports greater visibility for investment opportunities, policy reforms and commercial partnerships shaping Africa’s evolving energy sector.

Distributed by APO Group on behalf of African Energy Chamber.

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Afreximbank’s largest ever bond issuance raises US$1.5 billion

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Afreximbank

The transaction attracted strong demand from international investors across the UK, Europe, Asia and the United States, with the order book peaking at US$3.8 billion

CAIRO, Egypt, July 28, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (https://www.Afreximbank.com/) has successfully priced a US$1.5 billion dual-tranche Reg S/144A senior unsecured benchmark Eurobond, marking its first US dollar public bond issuance since July 2021 and its largest bond issuance to date. The bond was issued in two tranches: US$750 million with a 5.5-year tenor, maturing in January 2032, and US$750 million with a 10-year tenor, maturing in July 2036.

This successful issuance shows the confidence that investors continue to place in Afreximbank and in Africa’s growth story

The transaction attracted strong demand from international investors across the UK, Europe, Asia and the United States, with the order book peaking at US$3.8 billion. The issuance was approximately two times oversubscribed, with demand evenly split across both tranches. Supported by the robust demand, Afreximbank tightened pricing by 37.5 basis points on each tranche, resulting in final yields of 6.25% for the 5.5-year tranche and 7.125% for the 10-year tranche.

This successful return to the US dollar public bond market follows the Bank’s issuances in alternative formats and currencies in recent years, including Samurai bond issuances in 2024 and 2025 and a Panda bond issuance in 2025.Commenting on the transaction, Chandi Mwenebungu, Afreximbank’s Managing Director, Treasury and Markets, and Group Treasurer said, “This successful issuance shows the confidence that investors continue to place in Afreximbank and in Africa’s growth story. For us, this is a clear sign that the market continues to believe in Afreximbank’s work and in Africa’s economic prospects. Our role remains to connect capital to the opportunities that will drive trade, industrialisation and growth across the continent.”

HSBC Bank plc acted as the Global Co-ordinator, while Standard Bank of South Africa Limited, Standard Chartered Bank, Commerzbank Aktiengesellschaft and MUFG Securities EMEA plc, acted as Joint Lead Managers and Joint Bookrunners. This transaction marks another milestone in Afreximbank’s funding journey and underscores the bank’s continued ability to access international capital markets on competitive terms while connecting global capital to Africa’s long-term growth story.

Distributed by APO Group on behalf of Afreximbank.

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