FINANCE Minister Tito Mboweni has confirmed government’s plans to pay R500 million to take part in the development of a COVID-19 vaccine.
South Africa has recorded the most coronavirus infections on the African continent, with more than 760,000 confirmed cases and more than 20,000 deaths to date.
The pandemic and associated lockdowns have left South Africa’s economy in tatters.
Speaking during a Bloomberg webinar on Tuesday, Mboweni said he was worried about the effect of a second surge on the economy but felt confident that the nation was well placed to benefit from a successful vaccine.
A coronavirus vaccinem developed by drug firm AstraZeneca and Oxford University, has shown 70% effectiveness in trials involving 23 000 people.
The results ranged between 62 and 90% efficacy depending on the vaccine dosage, according to a statement by the firm on Monday.
Tests are being carried out in the United States, Japan, Russia, South Africa,
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