President William Ruto has urged African banks to finance the local pharmaceutical industry to bolster Africa’s health security and independence. He emphasized that Africa can no longer depend on imported health commodities, which lead to high costs and supply chain disruptions.

• If Africa manufactured half of its imported health products, it could save between $30 billion and $50 billion annually.
• The President called on continental financial institutions, including the African Development Bank and Afreximbank, to convert commitments into practical projects.
• President Ruto, as the African Union Champion for Local Manufacturing, proposed an extraordinary summit later this year to work towards producing at least 60 percent of Africa's health products locally by 2040.