South Africa Paid Covax 500 Million Rand for Vaccine Access

(Bloomberg) -- South Africa has paid 500 million rand ($33 million) to the Covax program, which strives to supply low- and middle-income countries with proven Covid-19 vaccines to ensure equitable access around the world, according to Finance Minister Tito Mboweni.

Mboweni said he will find a further 4.5 billion rand from the budget to make sure South Africa has an adequate supply and is at “the front of the queue” when vaccines become available. There may also be scope to help some neighbors, he said.

“South Africa is in the fortunate position that we have been invited to participate in the consortium that is looking for this vaccine,” Mboweni said at the Bloomberg Invest Africa virtual conference Tuesday. “I just hope that we do not face a second wave of the pandemic.”

The global Covax alliance has raised more than $2 billion and secured deals for roughly 700 million doses so far.

©2020 Bloomberg L.P.