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Bill Gates to give a major Chunk of his $200bn fortune to Africa

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

Bill Gates to give a major Chunk of his $200bn fortune to Africa

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

Speaking at ‘Inspiring Progress’ event in Addis Ababa, Ethiopia’s capital and the African Union (AU) headquarters, 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, by when his foundation planned to end its operations.

Talking about his commitment to Africa’s welfares, he said, “Our foundation has an increasing commitment to Africa. Our first African office was here in Ethiopia about 13 years ago. Now we have offices also in South Africa, Nigeria, Kenya, and Senegal.”

Mozambique’s former First Lady Graça Machel hailed his announcement with an applause, 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.

Mr. Gates’ announcement comes as a breather especially when the US government has cut aid to Africa, including programmes 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, 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 revolutionised banking in Africa, and argued that AI should now be used for the continent’s benefit. “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,” he said.

Gates pointed to Rwanda as an example, saying it was already improving services using AI-enabled ultrasound to identify high-risk pregnancies.

The Gates Foundation said it had three priorities: ending preventable deaths of mothers and babies, ensuring the next generation grows up without having to suffer from deadly infectious diseases, and lifting millions of people out of poverty.

“People will say a lot of things about me when I die, but I am determined that ‘he died rich’ will not be one of them,” he wrote in a blog post. Giving away 99% of his fortune could still leave the fifth-richest person in the world a billionaire, as per Bloomberg.

Gates founded Microsoft in 1975, along with Paul Allen, and the company soon became a dominant force in software and other tech industries. He has gradually stepped back from the company in recent decades, resigning as its chief executive in 2000 and as chairman in 2014. He had been inspired to give away money by investor Warren Buffett and other philanthropists.

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