Bob Geldof has helped raise close to $200 million (£125 million) through a private equity fund in aid of relief efforts in Africa.

Famous for creating and promoting the concert phenomena, Live Aid, the ex-Boomtown Rats frontman also heads up a fund known as 8 Miles, which assigns money to those most in need. With the fund's end now in sight, new figures suggest it has raised nearly $200 million since it's creation. 

With the money generated, Geldof consequently hopes to foresee an increase in Africa's trading industry.

"Currently 80 per cent of exports from Africa are unprocessed raw materials. There's your opportunity: they need manufacturing. We need their brains and their muscle power, because we're growing older. They are connected (to the global economy) now and cannot be disconnected." Geldof told Reuters.

Watch Geldof talk about his charity efforts for Africa below: