Ghana woos investors for US$100million vaccine manufacturing project 

Ghana is seeking US$100 million in investment to develop local vaccine manufacturing capacity as part of a new policy targeting 60 per cent domestic medicine production within five years.

The funding would support infrastructure development and the equipping of facilities on lands earmarked for vaccine production.

Speaking at the launch of the National Pharmaceutical Manufacturing Policy in Accra, Dr Sodzi Sodzi-Tettey, Chief Executive Officer of the National Vaccine Institute, described the investment requirement as an opportunity for local and foreign investors to support the country’s vaccine manufacturing ambitions.

He said the policy provided a strategic framework to attract investment and strengthen partnerships among the Government, industry, research institutions and academia to develop the human resource capacity required for vaccine production.

It also outlined measures to support access to essential raw materials and research and development, with the long-term objective of positioning Ghana as a pharmaceutical manufacturing hub in Africa.

Dr Sodzi-Tettey said global financial institutions engaged by the Institute on financing local vaccine production had raised concerns about government support for the sector.

He expressed confidence that the policy would address those concerns, improve investor confidence and help mobilise the capital needed to establish a competitive vaccine manufacturing industry serving domestic and regional markets.

Dr Sodzi-Tettey said the policy would also support sustainable pricing and guarantee a ready market for locally manufactured products through public procurement and patronage under the National Health Insurance Scheme (NHIS).

He called for stronger collaboration among the Government, private sector companies and science-based institutions to address existing capacity gaps and ensure sustainable pharmaceutical production.

Dr Lucia Addae, an Executive Member of the Pharmaceutical Manufacturers Association of Ghana (PMAG), said the policy provided clear direction for the industry and marked a shift from dependence on imported medicines towards local production.

She said Africa’s pharmaceutical market had grown from US$215 billion to US$750 billion, yet Ghana and other African countries continued to import about 70 per cent of the medicines they consumed.

“We must use this policy to reverse that and prepare to produce 70 percent of what we consume,” she said.

Dr Addae said the policy demonstrated Ghana’s readiness to advance local pharmaceutical production with quality and purpose.

“This is a milestone we have waited years to see. For over 27 years, PMAG has advocated for quality standards and an enabling business environment, and seeing this policy come to life is fundamental progress for local manufacturing,” she stated.

Dr Addae said some Ghanaian pharmaceutical companies already produced tablets, capsules, syrups and suspensions, while the industry was expanding into more complex formulations.

She, however, identified access to affordable financing as a major constraint and advocated long-term loans at single-digit interest rates to support local manufacturers.

”Beyond the document, what matters is implementation – financing incentives and a supportive business environment. Our prayer is to expand production and develop the full value chain, not just finished products but also active ingredients and raw materials,” she said.

GNA