Madonna. (Andres Otero/WENN.com)

Madonna is following in the footsteps of Bob Geldof by planning a Live Aid-style global fundraiser to benefit Malawi, according to reports.

The pop superstar, who has adopted two children from the impoverished nation, has poured money into the region through her Raising Malawi Foundation and is said to be organizing a new charity concert to boost donations.

Madonna has reportedly recruited U2 frontman Bono to perform at the Walk Out of Poverty event, which will take place in September.

A source tells Britain's Sunday Mirror, "Plans are in place to make this the biggest fundraiser the world has ever seen. Madonna is throwing everything into it. She knows the bigger the event the more money will be raised."

The publication claims 60,000 fans will be given free tickets to the stadium concert in Blantyre, Malawi.

Geldof raised over $225 million for famine relief in Africa with twin concerts held in London and Philadelphia, Pennsylvania in July 1985.