World leaders, health groups, and pharmaceutical firms announced $1.2 billion in funding to produce vaccines in Africa, at the Global Forum for Vaccine Sovereignty and Innovation in Paris on Thursday.

The Covid-19 pandemic exposed gaping global inequalities in access to vaccines, including in Africa which is facing numerous health crises.

Speaking at the gathering, French President Emmanuel Macron said the African Vaccine Manufacturing Accelerator would be “an essential step towards a genuine African vaccine market”.

“Africa produces only two per cent of the vaccines it uses and the goal that we have set is that by 2040, that production is increased to sixty per cent,” he said.

A recent resurgence of cholera in many parts of Africa has highlighted the need for more local vaccine producers.