Akinwumi Adesina, the president of African Development Bank said African imports between 70 per cent and 80 per cent of its medicines.
Adesina revealed this in Lagos while being honoured with the Obafemi Awolowo Prize for Leadership on Wednesday.
Reported by the AfDB boss, Africa loses $2.6tn yearly due to lack of productivity caused by ill-health.
He said, “Africa loses today, $2.6tn in lack of productivity, due to sicknesses and diseases.”
Adesina also noted that COVID-19 exposed the weakness of Africa in the area of healthcare, adding that at a time, Africa was unable to provide one basic shot of vaccine.
He said, “What is not acceptable or sustainable is that Africa imports today, 70 to 80 per cent of its medicines and produces only one per cent of its vaccines. The health security of 1.4 billion people in Africa must not be subjugated or subjected to the generosity of others.”
Adesina’s stance was slightly different from that of the World Health Organization, which stated that barely 3% of medications produced worldwide are produced in Africa, and that 95% of all medicines used in the region are imported.
WHO reported that, COVID-19 pandemic had further exposed Africa’s vulnerabilities in ensuring access to vital drugs, vaccines and health technologies and more and more African governments view the supply of safe, effective and affordable medicines and vaccines as a national security issues.
It said producing local production would save lives, develop public health and strengthen African economies, including supporting local jobs. It should also trigger the sharing of crucial technologies.
It read partly, “Member states should align their national and regional policies and strategies around local production. This will help economies of all sizes build synergies, share the workload and avoid costly duplication.
“African market integration and trade facilitation is crucial and African countries must make better use of regional economic integration platforms such as the Economic Community of West African States, the Common Market for Eastern and Southern Africa and the new African Continental Free Trade Agreement offer great opportunities.
“More integration will help lead to the manufacturing of products that are in high demand in the region, will expand access to more markets and make local production sustainable.”
