Bill Gates to give most of his $200bn fortune to Africa

Microsoft founder Bill Gates says that most of his fortune will be spent on improving health and education services in Africa over the next 20 years.

The 69-year-old said that “by unleashing human potential through health and education, every country in Africa should be on a path to prosperity.”

Speaking in Ethiopia’s capital, Addis Ababa, he also urged Africa’s young innovators to think about how to build artificial intelligence (AI) to improve healthcare on the continent.

Gates announced last month that he would give away 99% of his vast fortune – which he expects to reach $200bn (£150bn)—by 2045, when his foundation planned to end its operations.

“I recently committed 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.

Mozambique’s former First Lady Graça Machel welcomed his announcement, saying it came in a “moment of crisis”.

“We are counting on Mr Gates’ steadfast commitment to continue walking this path of transformation alongside us,” she said.

The US government has cut aid to Africa, including programs to treat patients with HIV/AIDS, as part of US President Donald Trump’s “America First” policy, raising concerns about the future of healthcare on the continent.

Gates said his foundation, which has a long history of operating in Africa, would focus on improving primary healthcare.

“What we’ve learned is that helping the mother be healthy and have great nutrition before she gets pregnant and while she is pregnant delivers the strongest results,” he said.

“Ensuring the child receives good nutrition in their first four years as well makes all the difference.”

In a message to young innovators, the tech billionaire noted that mobile phones had revolutionized banking in Africa and argued that AI should now be used for the continent’s benefit.