The Rwanda Social Security Board (RSSB) is making its third investment in the pharmaceutical industry through its majority-owned subsidiary, Akagera Medicines Africa, with the goal of commercializing vaccines and drugs by 2027-2028. Despite previous setbacks, including a court case with US-based Leaf Pharmaceuticals and unsuccessful returns from La Rama Pharmaceuticals, RSSB has secured a €2 million financing deal from the European Investment Bank to support the research, development, and manufacturing of new vaccines for infectious diseases.
The funding, which is part of the EU Global Gateway for Africa initiative, will support research and manufacturing of vaccines for infectious diseases such as tuberculosis, HIV, Lassa fever, and Ebola. It will also strengthen the technical expertise of Rwanda-based teams, enabling the country to advance home-grown vaccine discovery, manufacturing, and delivery systems.
Akagera Medicines, Inc. CEO Michael Fairbanks highlighted the company’s public-private partnership model, with 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. The EU Ambassador to Rwanda, Belen Calvo Uyarra, praised the investment as a milestone in advancing equitable access to health products and local vaccine manufacturing in Africa.
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