Life-saving medicines and vaccines “Made in Africa”

Headquartered in Durban, South Africa, Aspen Pharmacare Holdings Limited (Aspen) is a leading speciality pharmaceutical company. It operates in over 50 countries worldwide with 23 manufacturing facilities across 15 sites. To date, the group employs approximately 9,400 people. Aspen invested in a fully certified sterile injectables facility at its existing site at Gqeberha, a coastal city in South Africa, to manufacture anaesthetics and other sterile medicines, such as vaccines.

In 2024, DEG committed a long-term loan totalling EUR 100 million to further facilitate the local production of essential medicines, insulin and paediatric vaccines in Africa. DEG’s commitment was part of a EUR 500 million financing package mobilised by the International Finance Corporation (IFC). Other investors included Proparco (France) and the American development bank DFC.

DEG had already arranged a EUR 144 million loan back in 2021 as part of a EUR 600 million financing package, mobilised by IFC. In addition to DEG, the funds arranged by DEG came from the Austrian Development Bank (OeEB) and European Financing Partners (EFP). This investment enabled the company to expand its production of COVID-19 vaccines and to manufacture over 225 million doses of COVID-19 vaccines for the African continent.

In partnership with other DFIs, DEG remains committed to enhancing medical care and local access to essential medicines in Africa. Aspen is expanding its production capacities and wants to be in a position to manufacture a wider spectrum of vital pharmaceuticals on location in the future. This will reduce dependence on imports and increase supply security in Africa.

Expanding local production capacity not only strengthens security of supply but also creates many new jobs. This investment helps to strengthen the regional economy and to develop local markets. In the long term, this initiative aims to make the healthcare sector in Africa more resilient and to improve medical care for the public. In doing so, it contributes to achieving multiple sustainable development goals.