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Home Africa

MTN Group donates US$25M for 7 million vaccine doses for health workers

Financial Insight Zambia by Financial Insight Zambia
January 31, 2021
in Africa, Coronavirus, Donors, Health, Weekend
Reading Time: 2 mins read
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MTN Group donates US$25M for 7 million vaccine doses for health workers
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In a unique public/private partnership, MTN, Africa’s leading mobile network, has announced a donation of US$25M to support the African Union’s COVID-19 vaccination programme.

The donation will help secure up to seven million doses of the COVID-19 vaccine for health workers across the continent, which will contribute to the vaccination initiative of the Africa Centres for Disease Control and Prevention (Africa CDC).

“The devastating impact of COVID-19has been unprecedented and profound. Public and private partnerships are needed if we are to succeed in the fight against the pandemic and restore social and economic norms for our continent and our communities,” says Ralph Mupita, President and Chief Executive Officer of MTN Group.

On 14 January 2021, President Cyril Ramaphosa, Chairperson of the African Union, announced that the African Union had secured a provisional 270 million COVID-19 vaccine doses on behalf of its Member States, through advance procurement commitment guarantees of up to US$2 billion to the manufacturers by the African Export-Import Bank.

This was an important milestone in efforts to ensure equitable access to the COVID-19 vaccine for Africa’s people. However, with a population of about 1.3 billion, Africa requires many more doses to achieve at least 60 percent herd immunity. Contributions by private organisations, like MTN, are therefore essential to help the continent reach its target.

Also read: Africa secures 400 million more COVID-19 vaccine doses

“Our goal is to ensure that all those who need the COVID-19 vaccine have access to it very quickly, but the biggest hurdle in Africa has been financing of the vaccines, and the logistics of vaccinating at scale. We therefore welcome the right partnerships, like the one with MTN, to achieve our minimum 60 percent vaccination target,” says Dr John Nkengasong, Director of Africa CDC.

Since the beginning of the pandemic, MTN has made significant contributions to help limit the spread of the disease and save lives and livelihoods within its African market.

This donation is another example of MTN’s efforts to help find lasting solutions to solve the challenges facing the continent and to guarantee a healthy Africa, for all Africans.

“We believe ongoing collaborations with key stakeholders across sectors are essential as vaccines are deployed in all our markets, with communication tools, technology and digital services being vital support infrastructure for a successful mass vaccination programme,” concludes Mupita. “In the coming months, MTN Group will look at similar support commitments for the markets in which we operate in the Middle East.”

Financial Insight Zambia

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Financial Insight Zambia

Financial Insight Zambia

Financial Insights of Zambia was established in 2017 as a follow up to the success of The Financial Health of Zambia’s Premier Companies blog which was birthed as an idea that would address the challenge Zambian investors had in understanding how companies within the economy created value. Armed with the annual reports of companies listed on the Lusaka Stock Exchange, we bring business analysis and valuation of these premier companies. Tracking the nuances in the numbers and critical evaluation of the influence of the external environment, we provide a perspective that allows for understanding of the mechanics that drive these companies from the externally presented information. Our hope is to bridge the information asymmetry divide so that stakeholders have a better understanding of company information that can allow for informed decisions about investment.

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