American billionaire, Bill Gates says the majority of his wealth will be directed toward improving health and education across Africa over the next two decades.
- Bill Gates announced his commitment to donate a significant portion of his wealth, approximately 99% by 2045.
- The Bill & Melinda Gates Foundation has already disbursed over $100 billion toward global development since its inception in 2000.
- Gates emphasized the potential of improving healthcare and education systems to unlock human potential and promote prosperity across African nations.
American billionaire, Bill Gates says the majority of his wealth will be directed toward improving health and education across Africa over the next two decades.
“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 in an address at the African Union (AU) headquarters in Addis Ababa, Ethiopia.
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The 69-year-old philanthropist said that unlocking human potential through better healthcare and education could place every African nation on a path to prosperity.
Last month, Bill Gates announced plans to donate 99% of his estimated fortune of $200 billion (£150 billion) by 2045, the year his foundation is expected to wind down its operations.
The Bill & Melinda Gates Foundation has disbursed over $100 billion since its launch in 2000 by Bill Gates and Melinda French Gates. Originally, the foundation was set to close 20 years after the Microsoft Corp. co-founder’s death.
Giving away 99% of his fortune could still leave the fifth-richest person in the world a billionaire, according to Bloomberg.
U.S. aid cuts raise concerns across Africa
Since the U.S. government reduced aid to Africa, including funding for HIV/AIDS treatment programs, under President Donald Trump’s protectionist policy, there have been concerns about the future of healthcare across the continent.
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In response, Bill Gates said his foundation, which has long operated in Africa, will prioritize strengthening primary healthcare systems.
He also urged young African innovators to explore how artificial intelligence (AI) can be used to transform health outcomes on the continent.
Gates pointed to Rwanda as an example, saying it was already improving services using AI-enabled ultrasound to identify high-risk pregnancies.
