Majority of $200 Billion Gates Foundation Funds to Go to Africa

Africa is set to be the largest beneficiary of the $200 billion that the Gates Foundation plans to give away over the next two decades, co-founder Bill Gates said.

“The majority of that funding will be spent on helping you address challenges here in Africa,” he told an African Union gathering in Addis Ababa, Ethiopia, Monday, according to an emailed statement from his foundation.

The organization said last month that it plans to give away the money over 20 years before shutting down in 2045. That implies Gates — currently the fifth-richest person in the world — plans to transfer ...