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 projected $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 while speaking at the African Union (AU) headquarters in Addis Ababa, Ethiopia. He noted that a significant portion of the donation will be channelled to countries that prioritise healthcare and the well-being of their citizens.
Gates had initially declared his intention to donate 99 per cent of his wealth on May 8. The total fortune is projected to hit $200 billion by 2045, which is also when the Gates Foundation’s activities are expected to conclude.
“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,” Gates said in his address 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 warmly welcomed by former Mozambique First Lady Graça Machel, who praised the commitment as timely and vital.
“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.”
Following his keynote address, Gates joined Dr. Paulin Basinga, the Gates Foundation’s Africa Director, for a discussion on Africa’s development agenda. The two emphasised the critical need for strategic partnerships and investments to drive the continent’s progress.
Gates particularly highlighted the importance of investing in primary healthcare.
“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.
He also touched on the transformative potential of Artificial Intelligence (AI) and urged African youth to integrate AI into future healthcare systems. “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,” Gates noted.
During his visit, Gates met Ethiopian Prime Minister Abiy Ahmed to discuss the country’s ongoing reforms, service expansion and resilience amid shifting global aid dynamics. He also held a roundtable session with the Ethiopian Public Health Institute to review the iodine-folic acid double-fortified salt initiative.
Gates is expected to continue his African tour with a visit to Nigeria, where he will meet President Bola Ahmed Tinubu and national and state leaders to explore primary health care reforms. He will also attend the Goalkeepers Nigeria event focused on Africa’s innovation future and meet with local scientists advancing AI strategies and health solutions.
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Bill Gates Pledges Majority of Sh25.8 Trillion Fortune to Africa Over 20 Years