Boosting Africa’s vaccine self-reliance through EU-supported investment in BioVac
TGVC guarantee backs Proparco loan to expand large-scale vaccine production in South Africa
Brussels, 18 August 2026 – EDFI Management Company (EDFI MC), through the EU-funded Transforming Global Value Chains (TGVC) programme, is supporting Proparco’s investment in BioVac, a leading South African biopharmaceutical company, with a €7.9 million guarantee. The guarantee backs a US$15 million senior loan from Proparco to finance the construction of a new multi-vaccine manufacturing facility in Cape Town.
This investment will significantly strengthen Africa’s vaccine manufacturing capacity and contribute to greater regional health security and self-reliance.
The new facility will include a state-of-the-art fill-and-finish suite capable of producing up to 50 million vials (200–250 million doses), a drug substance unit for inactivated oral cholera vaccines, and a blow-fill-seal line with capacity for up to 60 million doses. Designed to meet international standards, the plant will enable BioVac to scale up from its current operations to a high-volume, cost-efficient and greener manufacturing model.
The operation supports the development of resilient and inclusive health value chains in Africa, a key priority under the European Union’s Global Gateway strategy. By enabling local vaccine production, the project reduces dependency on imports, enhances pandemic preparedness, and improves access to essential vaccines across the region.
BioVac, established in 2003 as a public-private partnership with the South African Government, plays a critical role in the country’s immunisation programme, supplying approximately 60% of South Africa’s vaccines. The company has a strong track record in technology transfer partnerships with global pharmaceutical companies, including Sanofi and Pfizer. With a majority-female workforce, BioVac also reflects the project’s contribution to inclusive, gender- and youth-focused industrialisation.
Through this investment, BioVac seeks to advance Africa-led vaccine production for African markets, consolidating its role as a leading regional manufacturer and distribution hub..
The EDFI TGVC guarantee enables Proparco to support a strategically important but capital-intensive project by mitigating risk and mobilising financing for high-impact sectors. TGVC is designed to strengthen sustainable value chains by de-risking investments in key sectors such as healthcare, agriculture, and renewable energy. By leveraging EU funding, the programme helps European development finance institutions scale up investments in partner countries and deliver measurable development impact.
About EDFI Management Company
EDFI Management Company (EDFI MC) is a multilaterally owned impact asset manager which delivers innovative development finance solutions that enable European DFIs, development banks and private sector investors to increase the scale and impact of their work. The company focuses on business models, technologies and geographies where other investors have not been able to operate at the desired scale given their resources and investment criteria. For more information, visit www.edfimc.eu
About the EDFI Transforming Global Value Chains (TGVC) Programme
The EDFI Transforming Global Value Chains (TGVC) Programme is a joint EFSD+ guarantee programme developed by European Development Finance Institutions and EDFI Management Company under the EU’s Global Gateway. The Programme supports and de-risks debt investments in companies and projects that make global value chains more sustainable, inclusive, and resilient, with a focus on high-impact sectors and challenging markets. For more information see https://edfimc.eu/what-we-do/transforming-global-value-chains-tgvc/
About EFSD+
The European Fund for Sustainable Development Plus (EFSD+) is the financing arm of the EU’s Global Gateway strategy. It provides guarantees and blended finance instruments to support investments that contribute to sustainable development, particularly in fragile and emerging markets.
About Global Gateway
Global Gateway is the European Union’s strategy to boost smart, clean, and secure connections in digital, energy, and transport sectors, and to strengthen health, education, and research systems across the world. It aims to mobilise up to €300 billion in investments between 2021 and 2027 to support sustainable and trusted partnerships globally.
