Akagera Medicines Africa Limited, a Rwandan pharmaceutical company, has secured €2 million in financing from the European Investment Bank (EIB Global) to accelerate early-stage vaccine development in the country. The funding aims to boost research and manufacturing of vaccines for infectious diseases such as tuberculosis, HIV, Lassa fever, and Ebola.
This new financing will also strengthen the technical expertise of Rwanda-based teams, enabling the country to advance home-grown vaccine discovery, manufacturing, and delivery systems. The initiative is part of the wider EU Global Gateway for Africa, designed to improve access to public healthcare and strengthen health resilience across the continent.
Speaking at the World Health Summit in Berlin, Michael Fairbanks, CEO of Akagera Medicines, emphasized the company’s public-private partnership model, highlighting support from international organizations such as the Coalition for Epidemic Preparedness Innovations (CEPI), the Gates Foundation, and the National Institutes of Health in the U.S. “With significant support from the European Investment Bank, we are moving faster to build human capacity and specialized infrastructure in Africa to support vaccine development,” Fairbanks noted.
The EIB’s Vice President, Thomas Östros, stressed the importance of partnerships to combat deadly diseases and scale up healthcare delivery. “The EIB is committed to strengthening our collaboration with local and international players to support innovative healthcare technology,” Östros said.
This financing aligns with Rwanda’s vision to become a biotech hub. Regis Rugemanshuro, CEO of the Rwanda Social Security Board (RSSB), which owns a majority stake in Akagera Medicines, stated: “The EIB’s support is crucial to Rwanda’s goal of becoming self-reliant in vaccine and medicine manufacturing.”
EU Ambassador to Rwanda, Belen Calvo Uyarra, lauded the investment, calling it a milestone in advancing equitable access to health products and local vaccine manufacturing in Africa.
This investment is part of the Global Gateway Flagship program, which focuses on enhancing Africa’s vaccine manufacturing ecosystem, supported by the EU-Africa Infrastructure Trust Fund. These efforts aim to reduce poverty and foster economic growth in sub-Saharan Africa.