Biovac, a South African biopharmaceutical company and client of the International Finance Corporation (IFC), has launched clinical trials for the country’s first locally developed oral cholera vaccine—marking a significant milestone for Africa’s vaccine manufacturing landscape. The development positions the continent to respond more quickly and reliably to cholera outbreaks, reducing dependence on imported vaccines that often arrive too late during public health emergencies. If the trials succeed and regulatory approvals follow, the vaccine could be available for use by 2028.
The launch of these trials comes after three years of sustained support from IFC, which has played a central role in accelerating Biovac’s growth and its ambition to become a leading vaccine manufacturer. IFC led a consortium of both local and international development finance institutions—including South Africa’s Industrial Development Corporation (IDC) and the European Investment Bank (EIB)—to mobilize the financing required for Biovac’s expansion drive.
In 2023, IFC committed a US$7 million loan, provided in rand equivalent, to strengthen Biovac’s scale-up efforts. Alongside financing, IFC is also offering advisory support for the establishment of a new multi-vaccine manufacturing plant in Cape Town. The plant is expected to triple Biovac’s production capacity and introduce between four and five new vaccines. Notably, it will support both traditional vaccine technologies and emerging mRNA platforms, bolstering Africa’s long-term health resilience.
The initiative aligns with the World Bank Group’s broader agenda of promoting domestic vaccine and pharmaceutical manufacturing across Africa. By anchoring production on the continent and supporting strong regulatory and delivery systems, these investments aim to enhance preparedness for health emergencies and ensure more equitable access to lifesaving vaccines.
