Kenya set to get slice of Sh2.36 trillion Gates cash

Philanthropist Bill Gates. FILE PHOTO | NMG

Kenya is among the beneficiaries of the new Sh2.36 trillion ($20 billion) pledge by the Bill and Melinda Gates Foundation.

The Microsoft founder's pledge comes at a time when the global economy has been grappling with high inflation and disruptions from the Russia-Ukraine war.

The Gates foundation formed in 2000 by Bill and Melinda Gates has provided grants to the country’s Health Ministry to tackle the Covid-19 pandemic and HIV-Aids prevention initiatives.

“With the support and guidance of our board, we plan to increase our spending from nearly Sh709.2 billion ($6 billion) per year today to Sh1.06 trillion ($9 billion) per year by 2026,” said Bill Gates.

“To help make this spending increase possible, I am transferring $20 billion to the foundation’s endowment this month,” the billionaire added.

Gates, one of the richest people in the world said he looks to virtually donate all his wealth to the philanthropic organisation. Gates has a net worth of about $122.4 billion according to Bloomberg.

"As I look to the future, I plan to give virtually all of my wealth to the foundation," read Gates’ tweet.

"I will move down and eventually off of the list of the world's richest people."

The foundation’s vision is geared towards giving every person the chance to live a healthy and productive life. The business magnate said he was making the donation to help meet urgent global needs.

The Bill and Melinda Gates Foundation has been financing various projects in the country through Gavi, a global health and vaccine firm and Global Fund.

The projects focus on vaccines, immunization, reproductive health and the Universal Health Coverage plan. Other areas of focus include agriculture, education and gender equality.

"I have an obligation to return my resources to society in ways that have the greatest impact for reducing suffering and improving lives," Gates tweeted.

The billionaire challenged other affluent people in the world to step up during this period of economic crisis.

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