Mastercard Foundation gives $1.3 billion for African COVID-19 vaccines

A photo of a Mastercard Foundation representative
Mastercard Foundation representative

Mastercard Foundation, an independent non-profit foundation created by Mastercard Inc, a payment network company, announced that it will be funding the production of COVID-19 vaccines in Africa and for Africans.

Influential Africans called attention to the need for the African continent to begin producing its COVID-19 vaccines due to little or no circulation of the vaccines created by foreign pharmaceutical companies to Africa.

Mastercard Foundation is going to be partnering with the Africa Centres for Disease Control & Prevention to quickly produce up to 40% of the COVID-19 vaccine shots to be circulated to over 50 million people within Africa.

The Mastercard Foundation’s funding is also going to be geared towards purchasing over 220 million COVID-19 vaccines from Johnson & Johnson at a discounted price for Africa.

There is hope that more blue-chip companies within Africa will follow in the footsteps of the Mastercard Foundation and fund the production of COVID-19 vaccines in Africa.

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Business Stance

Business Stance

Business Stance is dedicated to ensuring that every Nigerian comfortably stays one step ahead with an in-depth view of the global financial markets.

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