Bill Gates pledges majority of Sh25.8 trillion fortune to Africa over 20 years
Billionaire philanthropist and Gates Foundation Chair Bill Gates has once again pledged to donate the majority of his $200 billion (Sh25.8 trillion) fortune, over the next 20 years, to support African nations in addressing various challenges plaguing the continent.
Gates made the announcement on Tuesday when he spoke at the African Union (AU) headquarters in Addis Ababa, Ethiopia, noting that a large chunk of the sum will be channelled to countries prioritising healthcare and the well-being of their citizens.
Gates had initially announced plans to donate 99 per cent of his fortune on May 8, which is projected to hit $200 billion (Sh25.8 trillion) by 2045, when the Gates Foundation's activities are expected to come to an end.
"I recently made a commitment that my wealth will be given away over the next 20 years. The majority of that funding will be spent on helping you address challenges here in Africa," he said during the address issued at the Nelson Mandela Hall.
"By unleashing human potential through health and education, every country in Africa should be on a path to prosperity, and that path is an exciting thing to be part of."
Gates' pledge was welcomed by former Mozambique First Lady Graça Machel, who described the current situation as "a moment of crisis" and emphasised the importance of enduring partnerships in Africa's development journey.
"Gates' long-standing partnership with Africa reflects a deep understanding of these challenges and a respect for African leadership, ideas and innovation," she said. "We are counting on Gates' steadfast commitment to continue walking this path of transformation alongside us."
After his address, Gates joined Dr. Paulin Basinga, the foundation's Africa director, in discussing Africa's development agenda and the investments and partnerships needed to drive future progress.
Gates called for prioritising primary healthcare, emphasising that "investing in primary healthcare has the greatest impact on health and wellbeing."
"With primary healthcare, what we've learned is that helping the mother be healthy and have great nutrition before she gets pregnant, while she is pregnant, delivers the strongest results. Ensuring the child receives good nutrition in their first four years as well makes all the difference," he said.
Gates also spoke about the transformative potential of Artificial Intelligence (AI), noting its relevance for the continent's future. He similarly urged African youth to explore avenues to integrate AI into healthcare initiatives across the continent.
"Africa largely skipped traditional banking, and now you have a chance, as you build your next generation healthcare systems, to think about how AI is built into that," said Gates.
While in Ethiopia, Gates met with Prime Minister Abiy Ahmed to discuss the country's ongoing reforms, expansion of essential services and resilience amid changing global aid trends.
He also joined a roundtable with the Ethiopian Public Health Institute to review progress on Ethiopia's iodine-folic acid double-fortified salt initiative.
Gates will then head to Nigeria to meet President Bola Ahmed Tinubu and other national and state leaders to explore primary health care reforms.
His visit will also include attending the Goalkeepers Nigeria event on Africa's innovation future and engaging with local scientists and partners advancing the country's AI strategy and health solutions.
Gates made the announcement on Tuesday when he spoke at the African Union (AU) headquarters in Addis Ababa, Ethiopia, noting that a large chunk of the sum will be channelled to countries prioritising healthcare and the well-being of their citizens.
Gates had initially announced plans to donate 99 per cent of his fortune on May 8, which is projected to hit $200 billion (Sh25.8 trillion) by 2045, when the Gates Foundation's activities are expected to come to an end.
"I recently made a commitment that my wealth will be given away over the next 20 years. The majority of that funding will be spent on helping you address challenges here in Africa," he said during the address issued at the Nelson Mandela Hall.
"By unleashing human potential through health and education, every country in Africa should be on a path to prosperity, and that path is an exciting thing to be part of."
Gates' pledge was welcomed by former Mozambique First Lady Graça Machel, who described the current situation as "a moment of crisis" and emphasised the importance of enduring partnerships in Africa's development journey.
"Gates' long-standing partnership with Africa reflects a deep understanding of these challenges and a respect for African leadership, ideas and innovation," she said. "We are counting on Gates' steadfast commitment to continue walking this path of transformation alongside us."
After his address, Gates joined Dr. Paulin Basinga, the foundation's Africa director, in discussing Africa's development agenda and the investments and partnerships needed to drive future progress.
Gates called for prioritising primary healthcare, emphasising that "investing in primary healthcare has the greatest impact on health and wellbeing."
"With primary healthcare, what we've learned is that helping the mother be healthy and have great nutrition before she gets pregnant, while she is pregnant, delivers the strongest results. Ensuring the child receives good nutrition in their first four years as well makes all the difference," he said.
Gates also spoke about the transformative potential of Artificial Intelligence (AI), noting its relevance for the continent's future. He similarly urged African youth to explore avenues to integrate AI into healthcare initiatives across the continent.
"Africa largely skipped traditional banking, and now you have a chance, as you build your next generation healthcare systems, to think about how AI is built into that," said Gates.
While in Ethiopia, Gates met with Prime Minister Abiy Ahmed to discuss the country's ongoing reforms, expansion of essential services and resilience amid changing global aid trends.
He also joined a roundtable with the Ethiopian Public Health Institute to review progress on Ethiopia's iodine-folic acid double-fortified salt initiative.
Gates will then head to Nigeria to meet President Bola Ahmed Tinubu and other national and state leaders to explore primary health care reforms.
His visit will also include attending the Goalkeepers Nigeria event on Africa's innovation future and engaging with local scientists and partners advancing the country's AI strategy and health solutions.
African Union
African nations
Bill Gates
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