Mboweni announces R500m investment in vaccine consortium

The pandemic and associated lockdowns have left South Africa’s economy in tatters.

A medical worker addresses some of the first South African Oxford vaccine trialists waiting ahead of the clinical trial for a potential vaccine against COVID-19 at the Baragwanath hospital in Soweto on 24 June 2020. Picture: AFP

CAPE TOWN - Finance Minister Tito Mboweni on Tuesday announced a R500 million investment in the vaccine consortium that’s looking to produce a vaccine against COVID-19.

The pandemic and associated lockdowns have left South Africa’s economy in tatters.

Speaking during a Bloomberg webinar on Tuesday, Mboweni said he was worried about the effect of a second surge on the economy but felt confident that the nation was well placed to benefit from a successful vaccine.

“Already, a decision has been made that South Africa is paying R500 million to participate in the process of the production of the vaccine so that we can be in the frontline of those who can receive the vaccine. The minister of health is very happy about this.”

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