Rania Al-Mashat, the Minister of International Cooperation, has expressed Egypt’s strong support for the “African Foundation for Pharmaceutical Technology” initiative launched by the African Development Bank (AfDB). According to Al-Mashat, this initiative will play a pivotal role in bolstering African companies operating in the pharmaceutical industry, which require advanced technological infrastructure, and strengthening the healthcare and pharmaceutical manufacturing capabilities of African nations.
These remarks were made during a high-level event discussing the joint initiative between the African Union and the African Development Bank to establish the African Pharmaceutical Technology Foundation (APTF). The event aimed to highlight the institution’s role and significance in enhancing Africa’s capacity to produce medicines and vaccines.
It took place in Sharm El-Sheikh as part of the preparations for the annual meetings of the African Development Bank, scheduled from May 22 to 26, 2023, under the theme “Mobilizing Private Sector Finance for Climate and Green Growth in Africa.”
Al-Mashat warmly welcomed Akinwumi Adesina, the President of the African Development Bank, to Sharm El-Sheikh, the city of peace, emphasizing the crucial timing of the meetings as the world, and particularly the African continent, faces multiple challenges affecting various aspects of development.
The Minister reiterated Egypt’s support for partnerships and initiatives launched by the African Development Bank to foster innovation and promote healthcare and pharmaceutical industry development.
She highlighted the importance of South-South and triangular cooperation in creating comprehensive partnerships that enhance the capabilities of different countries in the healthcare sector. These efforts aim to support the achievement of the African Development Agenda 2063 and the 2030 Sustainable Development Goals.
Furthermore, Al-Mashat underscored the progress made by Egypt and other countries in the healthcare and pharmaceutical industry. She emphasized the significance of localizing this promising industry to ensure health security in the continent and develop healthcare systems that are accessible to all.
Citing a report by McKinsey Company in 2015, she noted that the pharmaceutical market in Africa has the potential for high growth, driven by urbanization, infrastructure development, healthcare capacity building initiatives, and a supportive business environment.
Discussing Egypt’s pharmaceutical market, Al-Mashat revealed that it currently stands at approximately $3 billion and is expected to experience substantial annual growth in the coming years. She highlighted the government’s efforts to restructure the pharmaceutical industry and its success in addressing the challenges posed by the COVID-19 pandemic. Egypt’s increased investment in scientific research, combined with presidential initiatives like the 100 Million Health and Decent Life, have strengthened the country’s response to the pandemic.
Additionally, the government has focused on promoting equality in healthcare services for citizens and refugees and localizing the pharmaceutical and vaccine industry to serve neighboring countries.
Al-Mashat further highlighted the successful presidential initiatives aimed at improving comprehensive healthcare services, including the 100 Million Health and hepatitis C eradication initiatives. She emphasized the government’s commitment over recent years to attract foreign investments and establish projects that localize the pharmaceutical industry.
As part of this vision, the “Pharma City” was launched in April 2021, covering an area of 180,000 square meters and boasting a production capacity of 150 million packages annually, solidifying Egypt’s ambition to become a regional hub for the pharmaceutical industry.
