Bill and Melinda Gates is expected to spend Ksh.7.9 billion ($60 million) to help drive the digital economy among African women entrepreneurs.
The funds will come in handy through a collaboration with the United States government, a strategic move by President Joe Biden’s administration to suppress China’s influence on the continent.
The initiative was announced by U.S. Vice President Kamala Harris while in Ghana, but did not disclose the exact date when the funds will be rolled out.
Harris has been in the west African nation for two days after which she jetted to Tanzania Thursday where she is expected to spend two days before heading to Zambia – the last stop on her four-day African tour.
On Wednesday, Harris donated a whopping Ksh.132.1 billion ($1 billion) for women in Ghana through the private sector in the Capital, Accra.
The African Women’s Economic Empowerment Initiative includes nearly Ksh.52.8 billion ($400 million) from the private sector “to help bridge the gender digital divide.”
“Improving the economic status of women and girls is not only a matter of human rights, justice and equity, it is also a strategic imperative that reduces poverty and promotes sustainable economic growth,” she said.
Over Ksh.66 billion ($500 million) out of the $1 billion, will be used to support women’s digital economic empowerment across all African states, Harris said.
While in Kenya last year, Bill Gates announced the foundation would spend more than Ksh.925.1 billion ($7 billion) over the next four years to support African countries and institutions working to develop and implement innovative approaches to confront hunger, disease, gender inequality, and poverty.
“The big global challenges we face are persistent. But we have to remember, so are the people solving them,” said Gates. “Our foundation will continue to support solutions in health, agriculture, and other critical areas—and the systems to get them out of the labs and to the people who need them.”