Bill Gates invests $5 billion in Africa development, health research

Tech magnate and philanthropist Bill Gates says his charity foundation will invest $5 billion over the next five years in African development, with a focus on health initiatives.

PRETORIA, SOUTH AFRICA (JULY 17, 2016) (REUTERS) – American tech magnate and philanthropist Bill Gates said on Sunday (July 17) that his charity would invest $5 billion in African development programs over the next five years.

Speaking to media after remarks for the 14th Nelson Mandela Annual Lecture in Pretoria, Gates said two thirds of the investment from his Bill and Melinda Gates Foundation would focus on health initiatives.

“Our foundation is here involved in the areas that we specialise in, so we are working a lot on the HIV epidemic, the TB (tuberculosis) epidemic, and the rest of my time in South Africa mostly will be focused not only around the AIDS Conference, but with lots of meeting with research partners and delivery partners to understand how we can help there be even better progress on these health issues, particularly in this country the focus on HIV and TB,” he said.

Gates is the former chief executive of Microsoft and said to be the world’s richest man. According to media reports his charity foundation has already invested more than $9 billion on the continent.

The philanthropist is expected to attend the four-day International AIDS conference beginning on Monday (July 18).