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Bill Gates: Why Most of My $200bn Fortune Will Go to Africa

Published 1 day ago6 minute read

•Sees possibility to eradicate malaria completely in Africa

Emmanuel Addehin Abuja and Dike Onwuamaeze in Lagos

World’s fifth-richest man, Bill Gates, yesterday said Africa will be the largest beneficiary of the $200 billion which the Gates Foundation plans to give away over the next two decades, spanning up to 2045.

Currently worth about $175 billion, according to the Bloomberg Billionaires Index, Gates had recently said that he intends to donate 99 per cent of his total wealth to making the world a better place.

The foundation has disbursed more than $100 billion since it was co-founded by Gates and Melinda French Gates in 2000. Originally, the foundation was set to close 20 years after the Microsoft Corporation co-founder’s death.

In an address at the Nelson Mandela Hall at the African Union (AU), Gates urged African leaders to seize the moment to accelerate progress in health and development through innovation and partnership, despite current headwinds.

“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 a statement sent out by the foundation.

Addressing over 12,000 government officials, diplomats, health workers, development partners, and youth leaders in person and online, he underscored the critical role of African leadership and ingenuity in driving the continent’s health and economic future.

He expressed optimism that malaria would be defeated in Africa because more exciting tools are in the pipeline, including new ways of killing mosquitoes and rendering them incapable of carrying malaria parasite.

Gates said: “With partners in Africa, we are preparing to showcase those tools and get them ready for roll out. I believe that there is real possibility over the next 20 years to completely eradicate malaria. That will be a huge achievement.”

He also said that it took the interventions of AlhajiAlikoDangote and the current Minister of Health, Dr. Muhammad Pate to facilitate the eradication of polio in Nigeria. 

“Polio looked very difficult to get out in Nigeria. And it is only through great leadership with people like Dr. Mohammed Pate, who is now the minister of health, that this became successful.

“I partnered with generous leaders like AlikoDangote to work with traditional and religious leaders throughout the country, but particularly in the north, to get the words out about the importance of polio vaccines.

“The main type of polio was completely eliminated all over Africa in 2016, including in Nigeria where it looked like we might not succeed,” Gates said.

He, however, added that there is still a variant of polio that is still circulating and “we need to take all the things that we did and double down to combat this variant.”

“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 said.

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 stressed.

The statement added that Gates’ speech highlighted how countries like Nigeria, Ethiopia, Rwanda, Zimbabwe, Mozambique, and Zambia are showing what’s possible when bold leadership harnesses innovation.

He spoke about the transformative potential of artificial intelligence, noting its relevance for the continent’s future. He praised Africa’s young innovators, saying he was “seeing young people in Africa embracing this, and thinking about how it applies to the problems that they want to solve.”

Drawing a parallel to the continent’s mobile banking revolution, he added, “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.”

In Ethiopia and Nigeria this week, the release noted that Gates will see first-hand the state of health and development priorities in the wake of foreign aid cuts, and he will affirm his and the foundation’s commitment to supporting Africa’s progress in health and development over the next 20 years.

“Our foundation has an increasing commitment to Africa,” Gates said. Our first African office was here in Ethiopia about 13 years ago. Now we have offices in South Africa, Kenya, Nigeria and Senegal. That’s a great way for us to strengthen partnerships.”

From Addis Ababa, Gates will travel to Nigeria, where he will meet with President Bola Ahmed Tinubu and engage with federal and state leaders to discuss Nigeria’s primary health care reforms. He will also participate in a Goalkeepers Nigeria event focused on Africa’s innovation future and meet with local scientists and partners shaping Nigeria’s national AI strategy and scaling up health solutions.

Gates’ trip follows the foundation’s historic announcement on May 8 that it would spend $200 billion over the next 20 years to advance progress on saving and improving lives and Gates’ commitment to give away virtually all of his wealth to the foundation in that timeframe.

Over the next two decades, the foundation will work together with its partners to make as much progress as possible towards three primary goals: end preventable deaths of mothers and babies; ensure the next generation grows up without having to suffer from deadly infectious diseases; and lift millions of people out of poverty.

Besides, calls for collaboration and shared responsibility were delivered by prominent African leaders, including Dr. NgoziOkonjo-Iweala, Director-General of the World Trade Organisation (WTO), and Amina Mohammed, Deputy Secretary General of the United Nations.

Okonjo-Iwealaemphasised that Africa’s health progress is a result of strong government leadership, resilient communities, and partnerships that deliver results.

Okonjo-Iweala said that Africa has made a significant progress as life expectancy has gone up from 53 years at the start of this century to 62 currently in Sub-Saharan Africa while infant mortality has more than halved.

She said that these were made possible by leadership in Africa and their allies like ‘The Gates Foundations along with other African foundations like AlikoDangote Foundation.

“The next chapter must be characterised by renewed ambition and shared ambition,” she said.

Renowned advocate for women and children, Mrs. GraçaMachel, described the current situation as “a moment of crisis” and emphasised the importance of enduring partnerships in Africa’s development journey.

“Mr 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 Mr Gates’ steadfast commitment to continue walking this path of transformation alongside us,” she added.

In her goodwill message, the Deputy Secretary General of the United Nations, Ms. Amina Mohammed, said that what Africa needs now are partners in development rather than helpers.

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