In Rwanda, the Rwanda Social Security Board (RSSB) is making its third attempt to invest in the pharmaceutical industry. This time, they are confident in their partnership with Akagera Medicines Africa, which just secured a €2 million commercial financing deal with the European Investment Bank. This deal marks a shift towards commercializing their products for profit.
The funding will accelerate research and development for new vaccines to treat infectious diseases, positioning Akagera to claim a part of the global pharmaceutical market. Despite setbacks in previous investments in the industry, RSSB is optimistic about the potential success with Akagera Medicines. The partnership with EIB also signifies strong external validation and aligns with Rwanda’s vision of becoming a biotech hub in Africa.
By focusing on impact investments in emerging markets, RSSB aims to not only achieve financial returns but also socio-economic benefits for Rwandans. With a strategic approach and support from reputable institutions, RSSB’s foray into the pharmaceutical industry holds promise for both investors and the country’s economic development.
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