To date, there is no organization on the ground in Africa that can support the practical implementation of trade-related intellectual property rights (TRIPS) on non-exclusive or exclusive licensing of technology, know-how and proprietary processes. Thus, the African Development Bank (AfDB) is giving the green light to the creation of the African Foundation for Pharmaceutical Technology, which will transform the pharmaceutical sector in Africa.

At the African Union Summit held in Addis Ababa in February 2022, African leaders called on the African Development Bank to help establish an African Foundation for Pharmaceutical Technology. The AfDB Board of Directors has endorsed the establishment of the African Foundation for Pharmaceutical Technology, an innovative institution that will significantly improve Africa's access to the technologies that underpin the manufacture of drugs, vaccines and other pharmaceutical products.

This decision opens up new health opportunities for Africa, which for decades has been burdened by several diseases and pandemics such as Covid-19, but has very limited capacity to produce its own drugs and vaccines. Africa imports more than 70 percent of all the medicines it needs, incurring an annual bill of $14 billion.

The foundation will be responsible for promoting and negotiating the interests of the African pharmaceutical sector with multinational pharmaceutical companies and other countries of the South, in order to share technologies, know-how and patented processes protected by intellectual property.