5 African Billionaires Heavily Funding Philanthropic Projects
During the COVID-19 pandemic, the continent’s wealthiest individuals exemplified an exceptional generosity to assist Africa.
African billionaires are seemingly taking cues from billionaires around who are loosely committing their fortune to charity causes. African billionaires are backing worthy philanthropic efforts on the continent to supplement the international community’s support.
For example, African billionaires rose to the occasion of the COVID-19 pandemic on the continent. In the bid to contain the virus and sustain the livelihood of an average African, the continent’s wealthiest individuals from countries such as Algeria, Nigeria, South Africa exemplified an exceptional generosity to assist Africa.
Some of the biggest donors to the COVID-19 cause include: Naguib Sawiris, an Egyptian billionaire, and his family donated $6 million; Aliko Dangote donated $5 million; Nicky Oppenheimer donated about $57 million, among others.
Here is a list of five African Billionaires funding philanthropic projects in Africa.
Apart from being the richest man on the continent, he is also one of the African billionaires known for his philanthropic commitments. Dangote has remained an exceptional philanthropist and a significant contributor to the advancement of humanity across Africa through his Aliko Dangote Foundation (ADF).
The foundation was established in 1993 in Lagos. It has become the largest private foundation (solely funded by a single African donor) in Sub-Saharan Africa.
Dangote Foundation, which has a $1.25 billion endowment, has provided more than $100 million to promote health, education, empowerment, and humanitarian aid. ADF’s primary goal is to minimise the number of people who die each year due to starvation and illness.
In realising this, the foundation partnered with the Bill and Melinda Gates Foundation in conjunction with both federal and state governments to control the spread of polio in Nigeria.
During the pandemic, the foundation provided a testing base in Kano with the facility to conduct 1,000 tests daily and supply Personal Protective Equipment (PPE) and other medical supplies.
Nicky Oppenheimer is the third richest man in Africa. In 2004, he and his son Jonathan Oppenheimer formed the Brenthurst Foundation. It primarily functions as a think tank, developing ideas and policy solutions to help Africa’s economic progress.
The Brenthurst Foundation hosts private sessions with high-level decision-makers and professionals to encourage them to share their knowledge and experiences.
Oppenheimer and his family also fund the Oppenheimer Memorial Trust (OMT), which makes grants to public benefit organisations and institutions, principally in the education sector. It also supports the arts and a range of civil society organisations engaged in policy research and advocacy work. The Oppenheimer family donated $80 million to OMT in 2012.
The Oppenheimer family also fund the Oppenheimer Memorial Trust (OMT), which awards grants to public-benefit organisations and institutions, especially in education. It also funds arts and various civil society groups that do policy research.
In 2013, Patrice Motsepe became the first African to join the Giving Pledge. Through this pledge, the ninth richest man in Africa is giving half of his fortune to alleviate the lives of the poor and marginalised.
The Motsepe Foundation was founded in 1991 to carry out and monitor Motsepe’s various charitable initiatives. The foundation, which focuses on education, sports, arts, religious and traditional groups, and women’s problems, is dedicated to eliminating poverty and improving the living conditions of the country’s underprivileged.
In 1996, Zimbabwe’s richest man and his wife founded the Higher Life Foundation. The foundation provides basic, secondary, and high school scholarships to orphaned students in Zimbabwe, Burundi, and Lesotho.
The tenth richest man in Africa is also a member of the Giving Pledge. Also, the foundation gives bursary awards, scholarships, food packs, and medical help to the children. The organisation also helps build libraries and other resource centres where people may get educational materials.
Abdulsamad Rabiu, the chairman of the BUA Foundation, is the fifth richest man in Africa.
In 2015, he gave more than $1 million to the Boko Haram Victims Support Fund.
In 2021, he announced the establishment of the Abdul Samad Rabiu Initiative, which would invest $100 million a year in education, health, and social development programs across Africa. In the same year, he donated $11.9 million to promote health and social development activities in Akwa Ibom State.
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