Nigeria Set To Become The First West African Manufacturing Hub For Insecticide-treated Nets
Health
Nearly every minute, a child under 5 years old dies from malaria. The African continent accounts for almost 95% (https://apo-opa.co/4ecJ8jD) of the world’s malaria cases – one quarter of these are in Nigeria. New approaches are needed to boost access to tried-and-tested, cost-effective tools to combat the disease, and local manufacturing of nets, medicines and vaccines is a priority for the continent.
The MoU announced today lays the foundation for Vestergaard to establish a joint venture with a local manufacturing partner in Nigeria, potentially supported by MedAccess, a social investor founded by British International Investment, the UK’s development finance institution and impact investor.
Selection of an appropriate partner is currently underway and will be subject to the satisfactory conclusion of a due diligence process. Vestergaard is also discussing opportunities for financing with the U.S. International Development Finance Corporation (DFC).
If successful, the joint venture will result in a state-of-the-art manufacturing facility that is expected to function as a flagship on ITN quality and bioefficacy performance, as well as industrial health, safety and sustainability practices. At scale, the planned facility would produce 10 million PermaNet® Dual long-lasting insecticidal nets every year, for both domestic use in Nigeria and international export. It would create around 600 jobs in Nigeria.