Release date: 2 June 2025
Promoter – Financial Intermediary
THE BIOLOGICALS AND VACCINES INSTITUTE OF SOUTHERN AFRICA (PTY) LTDLocation
Description
The project supports the construction of a greenfield end-to-end vaccine manufacturing plant, as well as the technology transfer of multiple vaccine assets to the promoter's current and to-be-built manufacturing facilities.
Additionality and Impact
The project supports local manufacturing and R&D capacity for vaccines, addressing key market failures that have left Africa dependent on imports and underinvested in biomanufacturing infrastructure. In enabling tech transfer, capacity expansion, and skills development, the Project overcomes barriers that have discouraged private investment in this strategic sector. The proposed facility aligns fully with the priorities of the Global Gateway and the Team Europe Initiative (TEI) on Manufacturing and Access to Vaccines, Medicines, and Health Technologies in Africa (MAV+), as well as the African Union's target for the continent to produce 60% of the vaccines needed by 2040. The project also integrates into other regional healthcare initiatives, including GAVI's African Vaccine Manufacturing Accelerator (AVMA) as the Promoter is expected to be one of the first recipients of incentive and accelerator payments under the AVMA initiative. Importantly, the Project will enable technology transfer and production of critical Gavi-priority antigens, including cholera, which currently faces a severe global supply shortage.
The EIB's additionality is both financial and non-financial. Financially, it provides long-term, risk-tolerant capital unavailable in the market, crowding in other DFIs and closing the project's funding gap. Non-financially, the EIB's technical assistance will strengthen local capabilities and knowledge transfer through the Promoter's Learning Academy, ensuring lasting impact beyond the investment. While the main contribution is to SDG 3 - Good Health and Well-being, the operation also supports SDG 8 - Decent Work and Economic Growth, SDG 9 - Industry, Innovation and Infrastructure, and SDG 17 - Partnerships for the Goals.
Objectives
The project supports the promoter to scale up their current fill-and-finish vaccine manufacturing facility and expand into an end-to-end multi-vaccine manufacturing facility. At completion, the facility will include a drug substance suite as well as formulation, fill, finish, quality control and release capabilities for commercial scale vaccine production. Additionally, the project is expected to facilitate technology transfer of vaccines for infectious diseases included in routine immunisation schedules.
Sector(s)
- Industry - Manufacturing
Under Global Europe NDICI guarantee
Under EFSD+ Guarantee
Proposed EIB finance (Approximate amount)
EUR 75 million
Total cost (Approximate amount)
EUR 150 million
Environmental aspects
The EIB will require the project's compliance with the relevant environmental legislation and that the project will be implemented in accordance with the EIB's Environmental and Social principles and standards. The project is expected to require an Environmental and Social Impact Assessment, which will be further assessed during appraisal. Additional project activities, such as research and development (RDI), are expected to be carried out in existing facilities that are already used for similar purposes or are investments of intangible nature and hence are not expected to create significant impact on the environment.
Procurement
The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.
Status
Signed - 18/12/2025