MedAccess’ $10m loan to help Biovac build end-to-end vaccine manufacturing facility in Cape Town
30 July 2026 | News
MedAccess today announced a new $10 million loan to South African vaccine manufacturer Biovac. The loan will help the company to construct an end-to-end vaccine manufacturing facility in Cape Town, which will boost vaccine production capacity in Africa.
The new facility, which will have both drug substance manufacturing and fill-and-finish capability, will enable Biovac to produce vaccines against cholera, meningitis, pneumococcal disease and polio. Through the expansion, Biovac will be able to supply 30-40 million vaccine vials annually, most of which will be purchased by UNICEF and Gavi, the Vaccine Alliance to support immunisation programmes in low- and middle-income countries. The expansion will also lead to the creation of 340 skilled jobs and a further 7,000 indirect jobs.
MedAccess joins a consortium of development finance institutions and multilateral development banks providing senior debt to Biovac. This investment aligns with Africa-led initiatives to boost regional vaccine manufacturing, including the African Union’s Vision 2040 goal to meet 60% of the continent’s vaccine needs through locally manufactured doses. It also supports the goals of AIM2030 and the African Vaccine Manufacturing Accelerator.
“We are proud to welcome MedAccess as a partner in this transformative project, joining a consortium of development finance institutions and multilateral development banks who share our vision of expanding end-to-end vaccine manufacturing on African soil,” said Dr. Morena Makhoana, Chief Executive Officer of Biovac. “This $10 million loan brings us closer to our goal of scaling up technology transfer projects that are underway of our cholera, meningitis, pneumococcal disease and polio vaccines. The new facility will not only ensure a reliable, regionally-made supply of lifesaving vaccines, it will build skills, advance technology transfer and drive vaccine innovation that will benefit generations to come. We are truly grateful for MedAccess’ support in strengthening Africa’s vaccine self-reliance.”
“Regional vaccine manufacturing is at the heart of efforts to make Africa’s immunisation programmes resilient and sustainable,” said MedAccess CEO Michael Anderson. “Biovac is showing bold intent by building a facility that covers the full production cycle – all the way from drug substance manufacture to fill, finish and distribution. MedAccess is pleased to be part of a consortium of lenders backing Biovac to boost manufacturing on the continent for the continent.”
This agreement also marks a significant moment for MedAccess. With the support of British International Investment, MedAccess is focusing on regional manufacturing as one of five priority areas where innovative finance and market shaping can play a vital role in reaching national and global health priorities.
It is also an example of MedAccess utilising its expanded innovative finance toolkit, which includes funded loans alongside guarantees and other innovative finance instruments.
