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South African president opens new vaccine manufacturing facility

The Asspciated Press reported that South African President Cyril Ramaphosa has opened a new vaccine manufacturing facility that he says will boost the country’s capacity to make its own inoculations for diseases including COVID-19.
Ramaphosa said Wednesday that the plant in Cape Town — a partnership between a U.S.-based biotechnology firm, the government and South African universities — will help improve Africa’s ability to produce vaccines.
He said: “The pandemic has revealed the huge disparities that exist within and between countries in access to quality healthcare, medicines, diagnostics and vaccines,” said Ramaphosa. Africa is responding to COVID-19 with a “depth of scientific knowledge, expertise and capacity,” to make its own vaccines.
According to local reports, the factory was also launched by Patrick Soon-Shiong, the South African-born founder of NantWorks, a multinational biotechnology firm based in the United States that has invested about $200 million to start the facility.

Soon-Shiong said that the new plant aims to reach a goal of producing 1 billion vaccines annually by 2025.
South Africa’s Aspen Pharmacare already assembles the J&J COVID-19 vaccine in a factory in Gqeberha, formerly known as Port Elizabeth. The Aspen facility blends the imported components of the vaccine and puts it in vials and packages the doses, a process known as fill-and-finish. That facility has a capacity of 220 million vaccines per year and is selling them in South Africa and to other African countries.
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Another vaccine production plant in South Africa is operated by the Biovac Institute in Cape Town in a partnership with Pfizer-BioNTech to produce 100 million of its vaccine doses annually.
Ramaphosa said Africa has secured 500 million doses of COVID-19 vaccines through the African Union’s vaccine acquisition task team, but the continent needs more.
Ramaphosa said: “These doses represent only around half of what the continent needs to vaccinate 900 million people in order to achieve the 70% target set by the World Health Organization."
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In addition to producing vaccines for COVID-19, the new facility will focus on developing products to fight HIV, different types of cancer and other diseases that may not be a huge problem in other parts of the world but are major health problems in Africa.
The new facility will help address public health challenges confronting the continent, according to John Nkengasong, director of the Africa Centers for Disease Control and Prevention, who spoke on a video call.
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He said: “This pandemic caught the continent off guard in terms of access to health security commodities, which are diagnostics, vaccines and therapeutics, adding that “The continent has embraced a new public health order, that speaks to the need for us to manufacture vaccines, therapeutics and diagnostics.”
Source: AP
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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