Why beating malaria is smart business for America

Malaria No More is making the business case for greater U.S. investment in malaria control. The global nonprofit, together with the Corporate Council on Africa, released a new report that highlights the economic payoff: “Every dollar the U.S. invests in African malaria control returns $5.80 in economic growth — outperforming most Wall Street investments.” “With $126.9 billion in untapped GDP waiting to be unlocked through malaria elimination, this represents one of the largest business opportunities hiding in plain sight. The choice for the U.S. is simple: lead this $4 trillion market transformation or watch competitors capture the returns,” notes the report, released to coincide with the 80th United Nations General Assembly high-level meetings. Malaria isn’t only a health concern; it’s a major economic and strategic risk that drains U.S. resources, disrupts supply chains, and hampers Africa’s growth. The disease costs African economies about $12 billion each year, a “malaria tax” that directly impacts U.S. companies operating on the continent and triggers business disruptions that many firms fail to grasp, the report adds. “As U.S. interests in Africa grow, so does the opportunity to change this challenge into a win-win, healthier communities, more stable and investable markets, and stronger U.S. Africa trade and partnerships,” Martin Edlund, CEO of Malaria No More, said at the Concordia Summit held on the sidelines of UNGA80. Florizelle Liser, president and CEO of the Corporate Council on Africa, said investors also weigh health security when evaluating opportunities on the continent. “They’re saying, ‘OK, a country that is investing in its health systems is a country that’s going to actually provide a better environment for us as a corporate,’” she explained. Adding that policymakers should view malaria not only as a health concern but as a driver of economic empowerment and an essential factor in creating a business-friendly climate. “It is just as important, for example, as investing in roads and ports, because it is going to create an environment where people can be healthier, they can show up for work more often. They can be more productive. Companies basically can be more profitable, and more investment will be drawn to those countries,” Liser said. Edlund said their findings are highly relevant to the new “America First Global Health Strategy” and conversations that are happening in real time between the U.S. government and countries it plans to negotiate compacts with. The strategy, which was released days before the report, emphasizes forging direct partnerships and coinvestments with aid-recipient countries, strengthening front-line health supplies and staff, and safeguarding Americans from overseas outbreaks. Speaking at a Devex Impact House on the sidelines of UNGA80, Edlund said global health has just experienced a reckoning — with the massive U.S. aid cuts — but this new global health strategy presents an opportunity for realignment. He emphasized the importance of holding the administration accountable but said there is plenty to applaud, noting that it reaffirms the U.S. commitment to global malaria targets, including a 92% drop in cases and elimination efforts in 35 countries by 2030. “My hope is that that leads to renewal and a new way of doing this work going forward,” he said. Jeffrey Graham, senior bureau official for global health security and diplomacy at the U.S. Department of State, affirmed that the strategy is an opportunity to do things differently. “No surprise, it’s called the “America First Global Health Strategy” which means protecting ourselves,” he said at the Concordia Summit. But it also presents opportunities for “enormous good we can do at the same time.” The strategy also emphasizes advancing U.S.-made health products. Edlund said the malaria pipeline is brimming with groundbreaking technologies, many developed by U.S. companies. By 2050, 1 in 4 people will be African, making the continent an increasingly important growth market for American businesses and investors. “We call out very specifically in the strategy the role of private sector, whether that’s American innovation, in particular, of great interest to us, or its local private sector in Africa,” Graham said. “It also lines up with what you’ve heard Secretary [Marco] Rubio talk about, which is commercial diplomacy.” The Malaria No More report also found that countries that have robust malaria control programs in place are attracting about 16% more foreign direct investment into their countries than other countries across the continent that are not focused on controlling malaria. “It really just goes to show you how important it is, and as African countries are scrambling to develop these regional supply chains. It’s important for them to be able to now say, ‘OK, investment into malaria control and having secure health systems is another way to be more competitive in the global economy,’” Lister said.