The African Export-Import Bank (Afreximbank) has announced a $75 million seed grant to seed grant to fund drug research and health interventions focused on African populations, in a move aimed at strengthening the continent’s biomedical research landscape.
The announcement was made on Thursday during the official launch of the African Medical Centre of Excellence (AMCE), where Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, unveiled the initiative.
The funding will be channelled through the newly established African Life Sciences Foundation and its associated endowment fund, both approved by Afreximbank’s board of directors in March 2025. The seed grant will be disbursed over a period of three years.
Read also: Afreximbank, BOI seal $75m deal to stimulate local manufacturing in Nigeria’s health sector
The foundation is seen as a sustainable mechanism to expand access to quality healthcare, strengthen research capacity, and foster cutting-edge innovation in life sciences—particularly in areas related to diseases that disproportionately affect people of African descent.
It aims to prioritise diseases such as sickle cell anaemia, which remain under-researched despite their high prevalence in African communities.
Through its activities, the foundation further aims to significantly enhance health ecosystems across the continent.
