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

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

Speaking in Ethiopia’s capital Addis Ababa, 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.

“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 his announcement, 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.

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.

“At the end of 20 years, the foundation will sunset its operations,” it said in a statement.

Last month, Gates said he would accelerate his giving via his foundation.

“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, according to Bloomberg.

Along with Paul Allen, Gates founded Microsoft in 1975, and the company soon became a dominant force in software and other tech industries.

Gates has gradually stepped back from the company in recent decades, resigning as its chief executive in 2000 and as chairman in 2014.

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

However, critics of his foundation say Gates uses its charitable status to avoid tax and that it has undue influence over the global health system. By BBC

Kindiki outlined the government’s vision to transform the macadamia sub-sector into a major contributor to the national economy. 

Deputy President Kithure Kindiki says that the macadamia industry has the potential to earn Kenya over Sh10 billion annually and generate more than 30,000 jobs with the right support.

Speaking Wednesday when he officially opened the inaugural National Macadamia Conference at Embu University, Kindiki outlined the government’s vision to transform the macadamia sub-sector into a major contributor to the national economy.

Kindiki pointed out that Kenya is currently the fourth-largest macadamia producer globally and second in Africa, with over 200,000 smallholder farmers actively engaged in cultivation.

The sector supports more than 40 processing companies, mainly located in rural areas, creating jobs for youth and women.

“With the government’s commitment to local value addition and the policy direction that discourages export of raw macadamia, this industry can earn Kenya over KES 10 billion annually, create upwards of 30,000 jobs, and directly support more than 200,000 farming households,” Kindiki said.

“I urge our stakeholders to support the government’s efforts on this.”

He reaffirmed the government’s policy discouraging the export of raw macadamia and instead promoting local value addition.

He challenged stakeholders to fully leverage the upcoming County Aggregation and Industrial Parks (CAIPs), including one in Embu, to scale up macadamia processing and market access.

While celebrating progress, Kindiki highlighted persistent challenges facing the macadamia sub-sector, including poor agricultural practices, limited value addition, price volatility, and illegal exports.

“Some companies are still exporting in-shell macadamia illegally or operating without licenses, compromising the integrity of the Kenyan macadamia brand. Others are reintroducing rejected nuts into the market. This must stop,” he warned.

He assured stakeholders of the government’s commitment to enforcing regulations, enhancing governance, and protecting the reputation of Kenyan produce on global markets.

Emphasizing the importance of collaboration, the deputy president called for stronger partnerships between national and county governments, particularly in supporting agricultural extension services, which are key to modernizing the sector.

“Agricultural transformation cannot happen without well-funded and staffed extension services,” he said. “We must prioritize this in both national and county budgets.”

Similarly, Kindiki assured stakeholders, farmers, county leaders, and agribusiness professionals of the government’s commitment to farmer-centric policies aimed at boosting productivity, food security, and value addition. By Bruhan Makong, Capital News

Political economist, Billow Kerrow, has urged the government to genuinely consider opinions from the public and professionals amid public participation on the Finance Bill, 2025. The former Mandera Senator criticised an old trend where sittings to gather views of the public are conducted as a mere formality to meet constitutional requirements. 

This, he added, blocks solutions to widespread concerns around the budget, such as its potential to further raise the already high cost of living.

“Sometimes, there is complete disregard for all the submissions. We saw in 2024 when hundreds of institutions made thousands of submissions, but they pushed it aside and went on with whatever they had. That engagement is critical,” said Kerrow on Spice FM on Wednesday, June 4. 

“If you look, for instance, at the submission of the Kenya Association of Manufacturers, they outline the impact every measure contained in the Finance Bill is going to have. They disregard this, then in a year or two, they see the impact and start backtracking.”

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  State impunity: Lawyers, activists protest cyber law used to prosecute Njeri 

According to the National Treasury, this year’s tax laws will not result in any increments, but experts have warned that re-categorisation of some products from zero rating to tax-exempt status may lead to higher prices as manufacturers pass their input tax to consumers. 

“The devil is in the details. Some of the measures will have a significant impact on the lives of Kenyans and the cost of living. The simple desire to raise more revenue, however small, means more taxes through that Finance Bill,” warned Kerrow.

The National Assembly’s Finance and Planning Committee has been collecting submissions from organisations concerning the government's planned revenue-raising measures and tax regime to be applied in the coming Financial year. 

While the sittings have mostly happened within Nairobi, the remaining sessions are scheduled to be conducted in the counties following Tuesday’s public hearings in Busia and Migori. Today, similar sessions will be held in Trans Nzoia and Nandi.

Treasury Cabinet Secretary John Mbadi will present his first budget next week on Thursday, described as a friendly one after the 2024 version met resistance and led to the deadly Gen Z protests. By Dennis Omondi | The Standard