South Africa spends R500 million for equitable access to COVID-19 vaccine: Report

The Covax Program reportedly aims to supply COVID-19 vaccines in countries with low-and middle-income and the alliance has raised more than $2 billion for approximately 700 million doses.

An amount of R500 million has been paid by South Africa to participate in the Covax program aiming for equitable access to COVID-19 vaccine in the country, said Tito Mboweni the finance minister, according to a report by Buisesstech.

About the impartial supply of the COVID-19 vaccine in the country, Mboweni in a Bloomberg webinar on Tuesday said that he will find an additional R4.5 billion from the budget for equitable access in the country. The Covax Program reportedly aims to supply Covid-19 vaccines in countries with low-and middle-income and the alliance has raised more than $2 billion for approximately 700 million doses. Speaking in the webinar, Mboweni said, “South Africa is in the fortunate position that we have been invited to participate in the consortium that is looking for this vaccine. I just hope that we do not face a second wave of the pandemic".

While talking about its effect on the economy, if the vaccine for the mass will cause a significant shift in the economy? Mboweni said, “the healthier the population is, the less the chances of another lockdown, (which will mean) that the green shoots start growing and become much more significant. I am very confident about it.”However, he couldn't seem to answer on the availability of vaccine any sooner, as he stated he was ‘kicking into touch’ being the finance minister.

The country recently experienced positive COVID-19 trial results lead by the three companies, with 70% positive results by the University of Oxford and AstraZeneca, 90% effectiveness by Pfizer and Moderna.