IFC Catalyzes Breakthrough in Africa’s Vaccine Manufacturing: Biovac Launches Cholera Vaccine Trials

Biovac, an IFC client, has begun clinical trials for South Africa’s first domestically developed oral cholera vaccine—a landmark achievement for Africa’s health security. This innovation promises faster, more reliable access to vaccines during cholera outbreaks and reduces dependence on imports. If approved, the vaccine could be available by 2028.

IFC’s Role: Driving Local Vaccine Manufacturing Capacity

For the past three years, IFC has been at the center of Biovac’s growth story:

Led a consortium of local and international development finance institutions (DFIs), including South Africa’s Industrial Development Corporation (IDC) and the European Investment Bank (EIB), to mobilize financing for Biovac’s expansion.

In 2023, IFC committed a US$7 million loan (in rand equivalent) to support Biovac’s scale-up and is providing advisory services for a new multi-vaccine manufacturing plant in Cape Town.

This plant will triple Biovac’s manufacturing capacity, add 4–5 new vaccines, and support both traditional and mRNA platforms—a game-changer for Africa’s health resilience.

Why It Matters

These efforts align with the World Bank Group’s broader priorities: building domestic vaccine and pharmaceutical manufacturing, and strengthening regulatory, delivery, and financing systems to ensure real health system preparedness.