Bill Gates to donate most of his fortune to Africa

International

IN A TREMENDOUS display of magnanimity, Microsoft founder Bill Gates has committed to donate most of his wealth to Africa.

The 69-year-old tech billionaire said that the fortune that he will be donating will be spent on improving health and education services in Africa over the next 20 years.

“By unleashing human potential through health and education, every country in Africa should be on a path to prosperity,” Gates said in a BBC report.

Gates made the promise in Ethiopia's capital Addis Ababa, where he also urged Africa's young innovators to think about how to build Artificial Intelligence (AI) to improve healthcare on the continent.

It was last month when Gates announced 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 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.

Mozambique's former First Lady Graça Machel welcomed Gates’ announcement.

Machel said Gates’ decision to donate his fortune to Africa is timely as it came when the nation is in a "moment of crisis."

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

As part of President Donald Trump's "America First" policy, the US government has cut aid to Africa, including programmes to treat patients with HIV/Aids, 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."

Along with Paul Allen, Gates founded Microsoft in 1975. The company eventually became a dominant force in software and other tech industries but Gates has gradually stepped back, resigning as Microsfot’s chief executive in 2000 and as chairman in 2014.

Gates said he had been inspired to give away money by investor Warren Buffett and other philanthropists.

Not all were convinced with Gates’ magnanimous act as some critics accused him of using its charitable status to avoid tax while also creating undue influence over the global health system.