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Mastercard Foundation Expands $ 1.3 Billion in Partnership with Africa CDC

Video Source: YouTube, CNBCAfrica

Mastercard Foundation Announced On Tuesday, we will invest $ 1.3 billion to save lives in Africa and improve our pandemic response efforts.

Is Save lives and livelihoods This initiative will be implemented over the next three years in collaboration with the Africa Centers for Disease Control and Prevention (Africa CDC) and aims to provide vaccines to more than 50 million people on the African continent.

According to a Foundation press release, the program also aims to facilitate vaccine production in African countries by focusing on the development of human capital.

In Africa, 4.8 million cases of coronavirus have been confirmed, 130,000 virus-related deathsLess than 2% of people on the African continent have been vaccinated at least once, in stark contrast to the global average of 11.6%.

The African Union wants to vaccinate at least 60% of the population (750 million people) by the end of 2022. AxiosThe estimated cost of the effort is about $ 16 billion, and the Africa CDC is calling on the government, the private sector, and others to help achieve their goals.

In a statement, Africa CDC Director John Nkengason said, “Ensuring inclusiveness in access to vaccines and building Africa’s ability to produce its own vaccines is not only good for the continent. Pandemic It’s the only sustainable way out of the world and towards a healthy and safe future. “

In Africa, where many countries struggle with vaccination, the spread of vaccines is recognized as essential to economic recovery.

The African Development Bank warns that the pandemic has reversed the “hard-earned poverty reduction” of the last two decades, potentially putting 39 million people in extreme poverty this year.

Rita Roy, President and Chief Executive Officer of the MasterCard Foundation, said: This initiative is to cherish all lives and accelerate the economic recovery of the continent. “

Chairman of the Board of Mastercard Ajai Banga The Foundation’s investment was “a kind of effort that could change the trajectory of the pandemic,” he said.

“This will allow millions of people in Africa to receive the COVID-19 vaccine. In partnership with Africa CDC and others, from purchasing, delivering and disseminating the vaccine, to strengthening the system and creating jobs. By solving all the hurdles, the impact will benefit all of us, not just the continent, “Banga said.

The newly announced initiative builds on previous collaboration between the African CDC and the Mastercard Foundation to increase access to COVID-19 testing in Africa.

Through the partnership, approximately 2 million tests and more than 12,000 health care workers have been deployed throughout the continent.

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The Mastercard Foundation is one of the largest foundations in the world with over $ 39 billion in assets. Since its founding in 2006 by Mastercard Inc, the foundation has been operating independently of the company.

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