The News
The “majority” of the $200 billion Bill Gates plans to give away over the next 20 years through the Gates Foundation will be used to promote development and innovation in Africa, the philanthropist said.
The organization, in a statement on Monday that carried the co-founder’s announcement, acknowledged the “current headwinds,” but highlighted examples of government-backed innovation in Ethiopia, Rwanda, Zimbabwe, and Nigeria, as well as the potential for AI in the fields of healthcare and education. Gates will be meeting with several of Africa’s AI leaders at an event in Nigeria later this week, the statement said.
Gates told Semafor’s Yinka Adegoke in an interview in May that he planned to use his foundation to give away “virtually” all of his wealth and then sunset his iconic foundation in 2045. He added that the $200 billion estimated spend — twice the amount given away since the foundation was founded — will still struggle to plug the hole left by USAID and other foreign aid rollbacks in recent months.
“I’ve always been inspired by the hard work of Africans even in places with very limited resources,” Gates said in a speech at the African Union headquarters in Addis Ababa on Monday. “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.”