Billionaire Bill Gates commits bulk of $200 billion fortune to Africa

Dubai: In a landmark philanthropic move, Bill Gates has pledged to allocate the majority of his estimated $200 billion fortune over the next two decades to enhance health and education services across Africa. Announced during a speech at the African Union headquarters in Addis Ababa, Ethiopia, Gates emphasised his commitment to tackling pressing challenges on the continent.

This initiative is part of a broader plan to disburse the entire endowment of the Bill & Melinda Gates Foundation by December 31, 2045, after which the foundation will close. Since its inception 25 years ago, the foundation has contributed over $100 billion towards global health, education, and agriculture.

Gates’ focus on Africa stems from the continent’s significant challenges and potential. Nigeria, Africa’s most populous nation, has been identified as the largest beneficiary of the foundation’s intervention funds, with investments aimed at eradicating diseases like measles, malaria, and polio, and enhancing primary healthcare systems.

In addition to healthcare, the foundation is investing in agriculture to combat hunger and malnutrition. Efforts include providing high-yield, climate-resilient seeds, fertilisers, and better access to timely information for farmers. These initiatives aim to boost agricultural productivity and reduce food costs across the continent.

Gates has also called on wealthier nations to increase their support for African countries, highlighting a decline in aid to the continent. He advocates for interventions such as fortified foods, prenatal vitamins, and improved dairy safety to combat malnutrition.