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European Investment Bank to Support Increased Vaccine Production in South Africa by Biovac

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COVID-19 Vaccine - Investors King

The European Investment Bank, in close cooperation with the European Union, is planning to support large-scale investment by South Africa’s specialist human vaccine manufacturer Biovac to increase development and manufacturing of vaccines and enable a quicker response to future pandemics.

The EIB’s first support for vaccine investment in South Africa is expected to increase annual production capacity at Biovac’s Cape Town plant to 500 million doses, enable manufacturing of viral and bacterial targeted vaccines and strengthen resilience to future pandemics in Africa.

Agreements to prepare detailed feasibility studies, finance preparatory works and commission detailed designs of the expanded vaccine production facility, to be financed by EUR 15 million European Union grant support, have been concluded by Biovac, the European Union and European Investment Bank.

This is a key step to enable new investment at the Biovac facility in the coming years, expected to exceed EUR 175 million and backed by South African and international financing partners.

“Africa remains highly vulnerable to vaccine preventable diseases and to both the current COVID pandemic  as well as future ones as well. Scaling up local vaccine development and manufacturing capacity is crucial to enable a quicker and more effective response to future health crises. The new EIB and EU support for feasibility studies and preparatory works will maximise the impact of large-scale investment at Biovac’s pioneering Cape Town plant and enable Africa to host a world-class international vaccine manufacturing facility. This is a key milestone in ensuring that that South Africa has the required vaccine manufacturing capacity to respond to both local and regional needs.” said Dr Morena Makhoana, Chief Executive Officer at Biovac

“We are excited for the support pledged by the European Investment Bank to BIOVAC. BIOVAC is listed as one of ISA’s critical Social Projects registered and approved into the ISA Pipeline. ISA is working closely with BIOVAC and the Western Cape Province to unlock an additional R260 million which will further aid in the expansion of Biovac as a Manufacturing Company for Africa. BIOVAC was also one of the projects highlighted at this years SA investment conference and is certainly a centre of excellence for vaccine manufacturing in Southern Africa” said Patricia De Lille, Minister of Public Works and Infrastructure of the Republic of South Africa.

“The European Investment Bank is working with experienced partners across Africa and around the world to improve health security and develop vaccines. The EIB is pleased to back preparation of large-scale investment by Biovac to transform Africa’s vaccine production capacity and strengthen resilience to future pandemics. The European Union’s grant support will accelerate technical and production preparations for future investment to enable 500 million doses a year to be produced by Biovac in South Africa ” said Ambroise Fayolle, European Investment Bank Vice President.

“The COVID-19 pandemic has highlighted both the importance of a rapid response to a pandemic and local vaccine production capabilities to ensure equitable access to vaccines. The European Union is pleased to support future investment by Biovac through an unprecedented early stage EUR 15 million grant support for project preparation and technical design, under the Infrastructure Investment Programme for South Africa. EU support for Biovac demonstrates how South African, European and international partners are joining forces to strengthen resilience to future pandemics in Africa,” said Dr. Riina Kionka, European Union Ambassador to South Africa.

Biovac is a bio-pharmaceutical company, based in Cape Town, that is the result of a partnership formed with the South African government in 2003 to establish local vaccine manufacturing capability for the provision of vaccines for national health management and security.

EIB support for vaccine production across Africa

The European Investment Bank is working with partners in South Africa, Senegal, Rwanda and Ghana to unlock large-scale investment to improve local vaccine development and production capacity to better respond to existing and future pandemics.

The European Investment Bank is the world’s largest international public bank, owned directly by the 27 European Union member states and has been active in Africa since 1965.

The EIB is increasing targeted support for health investment and has provided EUR 1.7 billon for health investment across the continent.

Since the pandemic EIB has provided more than EUR 8 billion for private and public investment across Africa.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Sport Business

Usyk Claims Victory Over Fury in Historic Bout, Becomes Undisputed Heavyweight Champion

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Oleksandr Usyk emerged victorious over Tyson Fury to claim the title of undisputed heavyweight champion.

The highly anticipated bout, held in Riyadh, Saudi Arabia, showcased the remarkable skill and determination of both fighters, culminating in a split-decision victory for Usyk.

From the opening bell, the tension was palpable as Fury, the reigning WBC champion, and Usyk, the unified cruiserweight champion, squared off in the ring.

Fury, known for his towering stature and formidable punching power, sought to impose his will early on, using his reach advantage to keep Usyk at bay.

However, Usyk, undeterred by the size disparity, showcased his superior footwork and technical prowess, darting in and out of Fury’s range to land precise counterpunches.

As the rounds progressed, the momentum shifted back and forth between the two fighters, with each landing significant blows and demonstrating their resilience in the face of adversity.

Fury’s powerful punches tested Usyk’s chin, while Usyk’s speed and agility kept Fury on the defensive.

In the pivotal moments of the fight, Usyk delivered a masterful performance in the later rounds, capitalizing on Fury’s fatigue to unleash a barrage of punches that rocked the defending champion.

Despite Fury’s valiant efforts to rally back, Usyk’s relentless pressure and pinpoint accuracy earned him the judges’ favor, securing a split-decision victory and etching his name in the annals of boxing history.

With this triumph, Usyk joins the ranks of legendary heavyweight champions, becoming the first undisputed heavyweight champion since Lennox Lewis more than two decades ago.

His victory not only cements his status as one of the sport’s elite athletes but also signals a new era in the heavyweight division, characterized by fierce competition and unparalleled skill.

As the boxing world reels from the electrifying showdown, fans and pundits alike eagerly await the prospect of a rematch between Usyk and Fury. With both fighters showcasing their championship pedigree, the stage is set for another epic clash that promises to captivate audiences worldwide.

In the aftermath of his victory, Usyk expressed gratitude to his team, his country, and his faith, attributing his success to hard work and dedication.

Meanwhile, Fury, while disappointed with the outcome, vowed to bounce back stronger and reclaim his title in the anticipated rematch.

As the boxing world celebrates Usyk’s historic achievement, his victory serves as a testament to the enduring spirit of sportsmanship and the unyielding pursuit of excellence in the noble art of boxing.

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Education

JAMB Releases 36,540 Withheld UTME Results, Dismisses Cyber Breach Claims

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The Joint Admission and Matriculation Board (JAMB) has quelled concerns over the integrity of the Unified Tertiary Matriculation Examination (UTME) results by releasing an additional 36,540 previously withheld scores.

This move follows earlier revelations of withheld results and assertions of a cyber security breach.

Fabian Benjamin, the spokesperson for JAMB, confirmed the release of these results in a statement issued late Tuesday in Abuja.

This latest batch of released scores, when combined with the 531 previously unveiled, brings the total number of results made public to 1,879,437.

Benjamin took the opportunity to address circulating rumors regarding the security of the UTME results.

He categorically dismissed claims of a cyber security breach, saying that the examination outcomes remain intact and securely stored.

He stressed that the results are not stored in any cloud system and thus cannot be compromised by external entities.

At the time of the UTME release, JAMB had disclosed that certain results were withheld pending further investigation.

Subsequently, 531 of these results were recently unveiled with the remainder still under scrutiny.

Benjamin explained that any candidates implicated in examination malpractice are undergoing thorough investigation.

The examination board intends to meticulously review footage from CCTV cameras installed across all accredited centers to ascertain each candidate’s involvement.

Benjamin urged the public to remain vigilant against misinformation originating from sources not affiliated with JAMB.

He attributed the discrepancies in minimum admissible scores to variations among tertiary institutions. Some institutions, he noted, proposed lower minimum scores than others, resulting in varying benchmarks.

Benjamin clarified that these benchmarks are determined collectively by all Heads of Institutions during the annual Policy Meeting on Admissions, ensuring uniformity across the country.

Also, Benjamin cautioned religious organizations against overstepping their designated roles.

He warned against the dissemination of false information to governmental bodies for personal gain.

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Travel

British Airways Owner IAG Prepares for Summer Surge Amid High Travel Demand

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british-airways

As the world gradually emerges from the grip of the pandemic, the travel industry is witnessing a resurgence in demand with British Airways owner IAG SA gearing up for a busy summer season.

Despite lingering challenges, the airline conglomerate remains optimistic about the outlook, citing strong demand for travel within Europe and across the Atlantic.

In a recent stock exchange filing, IAG disclosed an adjusted operating profit of €68 million ($73.3 million) for the three months ending March.

According to Chief Executive Officer Luis Gallego, the group’s core markets, including the North Atlantic, South Atlantic, and intra-Europe routes, have shown robust performance, positioning them well for the upcoming peak travel period.

With vaccination rates increasing and travel restrictions easing in many parts of the world, consumers are eager to resume travel plans, fueling the surge in demand.

However, the road ahead is not without its challenges. While travel within Europe and across the Atlantic remains strong, other regions present a more complex operating environment.

The ongoing conflict in the Middle East has dampened demand for certain destinations, while airspace restrictions resulting from geopolitical tensions, such as the Russian invasion of Ukraine, have disrupted flight routes to East Asia.

Despite these hurdles, IAG remains resilient, banking on the strength of its core markets and the performance of its brands to weather the storm.

The company’s strategic positioning and proactive measures to adapt to changing circumstances have positioned it to capitalize on the rebound in travel demand.

As the summer season approaches, IAG is focused on ensuring operational readiness to meet the surge in passenger numbers.

With travelers eager to reconnect with loved ones, explore new destinations, and embark on long-awaited vacations, the airline group stands ready to facilitate safe and seamless travel experiences.

As vaccination campaigns progress and travel sentiment rebounds, IAG’s proactive approach and strategic investments position it as a key player in the aviation industry’s recovery journey. With optimism on the horizon, the company remains committed to delivering exceptional service and fostering a seamless travel experience for passengers worldwide.

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