Trade Ministry Secures €415,437 Grant to Drive PharmaVax Programme
The Ministry of Trade, Agribusiness and Industry has secured a €415,437.78 grant from the European Union and the German Ministry for Economic Cooperation and Development to drive the PharmaVax Programme, an initiative aimed at transforming Ghana’s pharmaceutical sector.
Director of Administration at the Ministry, Mr Yaw Sakyi, who spoke on behalf of the Minister, Hon. Elizabeth Ofosu-Adjare, at a meeting on Thursday, said the government is committed to positioning Ghana as the pharmaceutical manufacturing hub in the sub-region.
He noted that the policy backing the programme will provide the necessary implementation systems to support the industry’s growth.
Mr Sakyi explained that PharmaVax is built around four key pillars, including strengthening governance institutions within the pharmaceutical sector, enhancing public-private dialogue between government and industry players, improving the environment for foreign direct investment and trade, and promoting greater transparency in investment conditions and authorisation processes.
He commended the EU and Germany for the €415,437.78 support, saying the funding will help lay a solid foundation for achieving several strategic objectives by 2030.
Top among them is doubling the export value of pharmaceutical products within the ECOWAS market and increasing the market share of locally produced pharmaceuticals from 30 per cent to 60 per cent.
Head of the Pharmaceutical Manufacturing Development Unit at the Ministry, Mr Godfred Gobah, said the Ministry will actively engage the private sector and participate in local and international events to raise the visibility of Ghana’s pharmaceutical industry and open new market access opportunities for local manufacturers.
The Trade Ministry is working in collaboration with GIZ Ghana, the European Union and other key stakeholders to establish a robust ecosystem that will support the long-term growth of the sector.
Click to read more: https://opemsuo.com/author/hajara-fuseini/
