This announcement comes a month after Gates pledged to give away 99% of his fortune. Now aged 69, the American billionaire said the funding will be channelled through the Bill & Melinda Gates Foundation, which has a long history of supporting development efforts on the continent.

Focus on healthcare and nutrition

Gates emphasised the importance of strengthening primary healthcare systems. “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. He also highlighted the critical need for child nutrition in the first four years of life.

In the face of significant aid cuts by the United States government under President Donald Trump ’s "America First" policy, Gates’ commitment offers hope for many African countries. These cuts have affected key programmes, including HIV/AIDS treatment efforts funded by USAID.

A call to embrace artificial intelligence

Gates encouraged young African innovators to think about integrating artificial intelligence (AI) into future healthcare systems. He drew parallels with the way mobile phones transformed banking in Africa and suggested a similar leap could be made in the health sector.

“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,” Gates said. He cited Rwanda’s use of AI-enabled ultrasound technology to detect high-risk pregnancies as a model to follow.

Foundation’s goals and timeline

According to a statement from the Gates Foundation , it will focus on three main areas: ending preventable deaths of mothers and babies, eliminating deadly infectious diseases, and reducing poverty across Africa.

The foundation plans to close its operations after the 20-year period. “At the end of 20 years, the foundation will sunset its operations,” the statement said.