Mastercard Foundation

Mastercard Foundation

Non-profit advancing education and financial inclusion

Overview

The Mastercard Foundation helps young people in Africa and Indigenous communities in Canada gain access to education and financial inclusion through scholarships, mentorship, and seed funding. Its programs include the Mastercard Foundation Scholars Program, which provides scholarships and mentorship, and the Social Venture Challenge, which offers seed funding and a global network to young entrepreneurs. It works by partnering with the private sector, donors, and civil society to build supportive systems, policies, and environments rather than just giving grants. Its goal is to create a world where young people are included, thriving, and driving transformative change in their communities.

About Mastercard Foundation

Simplify's Rating
Why Mastercard Foundation is rated
A-
Rated A on Competitive Edge
Rated A on Growth Potential
Rated B on Differentiation

Industries

Social Impact

Financial Services

Education

Company Size

501-1,000

Company Stage

N/A

Total Funding

N/A

Headquarters

Toronto, Canada

Founded

2006

Simplify Jobs

Simplify's Take

What believers are saying

  • $42 billion Mastercard stock divestment enables diversified portfolio by May 2027 via MFAM.
  • Seven-year Green RISE unlocks 500,000 jobs for women and youth in green economy.
  • FAWE Uganda's 2,000 scholarships through 2030 boost STEM access in 65 districts.

What critics are saying

  • Duke University scholarship termination erodes US partner network and alumni impact.
  • Missed May 8, 2026 FAWE deadline delays grants and erodes beneficiary trust.
  • Acumen dependency dooms Green RISE if partner fails within 12-36 months.

What makes Mastercard Foundation unique

  • Africa Youth Portal trains 20 young researchers annually in policy skills with SAIIA since April 2026.
  • Green RISE Africa supports 443,200 via green entrepreneurship across 15 African markets with Acumen.
  • Scholars Program partners with FAWE Uganda for 600 STEM bursaries targeting underrepresented youth.

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Benefits

Paid Vacation

Company News

263Chat
May 5th, 2026
Students receive laptops in push to bridge digital divide.

Students receive laptops in push to bridge digital divide. Students enrolled in technical and vocational training programmes have received nearly 200 laptops under a scheme aimed at boosting digital skills and widening access to education. The initiative, led by the Forum for African Women Educationalists Zimbabwe (FAWEZI) in partnership with the government and the Mastercard Foundation saw 192 beneficiaries of the Technical and Vocational Education and Training (TVET) bursary programme equipped with the devices. The handover ceremony, organised alongside the Ministry of Higher and Tertiary Education, Innovation, Science and Technology Development, also marked a delayed commemoration of International Girls in ICT Day 2026. The event was held under the theme "AI for Development: Girls Shaping the Digital Future". Officials say the programme is part of broader efforts to make education more inclusive and technology-driven, particularly for disadvantaged young people. It also seeks to encourage greater participation by girls and young women in science and technology fields. Permanent Secretary in the ministry, Professor Fanuel Tagwira described the initiative as a practical step towards improving access to modern education. "This is more than a ceremonial event. It demonstrates a shared commitment to expanding access to quality, inclusive and technology-enabled education, especially for those from marginalised backgrounds." he said He added that digital devices were now essential tools in learning. "In this era driven by artificial intelligence and rapid technological advancement, access to laptops is no longer a luxury but a necessity. These devices are gateways to knowledge, innovation and opportunity." Professor Tagwira also highlighted the gender gap in science and technology, noting that women make up only about a third of students in such fields at university level. FAWEZI executive committee chairperson, Professor Ruth Gora said the laptops represented more than just equipment. "They symbolise opportunity, connectivity and empowerment," she said. "They will support academic journeys and enhance digital skills." Deputy Minister of Public Service, Labour and Social Welfare Mercy Dinha said the programme showed how partnerships could help tackle inequality. "By prioritising marginalised young women and men, this initiative is addressing barriers that have historically limited access to tertiary education," she said. Education officials say the devices will support research, improve learning experiences and enable access to online resources, while helping students develop essential digital skills. Beneficiaries are also being trained in the proper use and care of the laptops to ensure their long-term impact. The programme forms part of the "Second Chance Pathways" initiative, which aims to expand opportunities for disadvantaged young people and support Zimbabwe's goal of inclusive development.

RMI
Apr 9th, 2026
Bringing clean energy opportunities to Women and Youth in Nigerian agriculture.

Bringing clean energy opportunities to Women and Youth in Nigerian agriculture. The first major convening of the Energizing Women and Youth in Agri-food Systems examined how Nigerian clean energy enterprises can stabilize livelihoods, empower women and youth, and reshape agricultural value chains. April 9, 2026 On the drive toward Zuma Rock, just on the outskirts of Abuja, Nigeria, the energy challenge facing the country's agri-food sector was impossible to ignore. Tomatoes rested in shallow baskets under the midday sun. Crates of pepper and leafy vegetables sat exposed to heat and dust. Farmers shaded their faces with folded cardboard, watching the sky and the clock, hoping their produce would sell before it spoiled. The Energizing Women and Youth in Agri-food Systems (EWAS) program was designed specifically to address this challenge by linking clean energy solutions with income-generating agricultural activities. For many of these farmers, particularly women and young agripreneurs, the difference between profit and loss often comes down to one thing: power. Women and youth under 35 account for over 60% of Nigeria's agricultural workforce, yet unreliable electricity constrains their productivity, narrows income margins, and increases vulnerability to loss. The tomato farmer selling at the market without access to cold storage can lose up to 40% of her tomatoes by the end of the day. With reliable cold storage, that same harvest can be preserved, waste reduced, and income stabilized. This is the promise of productive use of energy (PUE): using electricity to power cold storage, solar irrigation, milling, drying, and food processing. Across Nigeria's agri-food value chain, from production and processing to storage, transport and marketing, reliable energy transforms labor into opportunity, enabling women and youth to work more efficiently and profitably. Observing these market goods raised simple but urgent questions. How many women farmers have access to reliable cold storage? How many absorb daily losses because electricity, something so fundamental, remains out of reach? Turning access into opportunity for women's economic participation. The EWAS Program is led by Global Energy Alliance for People and Planet in partnership with the Mastercard Foundation. It is partly implemented by RMI to expand access to solar-powered productive-use technologies while advancing women's economic empowerment in agriculture. One of the first major milestones of the program was convening Nigerian productive-use enterprises, delivery partners, and technical experts for an intensive, hands-on workshop to refine inclusive business models that expand women's and youth's access to solar-powered equipment in agri-food systems. Through peer learning, real-time coaching, and structured working sessions, partners leave with stronger, investment-ready concepts and clear next steps to create dignified jobs and scale impact. In her opening remarks at this workshop, Ije Ikoku Okeke, managing director of RMI's Global South Program, emphasized that Nigeria is at a pivotal moment, with solar solutions becoming more widely available and partner interest growing. This presents the opportunity to build momentum deliberately and ensure women are strategically included in that growth. "We want to see models that work, make the right choices, and incorporate women in a meaningful way in the work that we do," she said. "EWAS's role is not to tell you what to do, but to help you think about what you are building, ensuring it is inclusive and sustainable." The boot camp brought together local PUE companies, including Coldbox Store, Koolboks, and SunFi, to examine how their existing PUE solutions, from cold storage to financing mechanisms, could become more accessible to women and youth entrepreneurs operating at the grassroots level. RMI's program director for Nigeria, Suleiman Babamanu, reinforced the boot camp's objective of creating structure, providing technical support, and strengthening implementation pathways so that enterprises leave with actionable, investment-ready concepts. "By the end of this convening, partners should have clearer roadmaps for delivering measurable impact," he said. Designing for real markets, within real-world constraints. From the opening "Who's Who" session, it was evident that the room reflected the realities of Nigeria's clean energy and agriculture ecosystem. Participants shared not only business models but also lived experiences from the communities they serve. "During the hot season, when food spoilage increases, the demand for cold chain increases," said Adedotun Saka, environmental, social, and governance lead at Koolboks. For many women farmers, however, cold storage remains financially out of reach. In addition, EWAS financing partners acknowledged a persistent challenge: designing payment structures that reflect the seasonal, often unpredictable cash flows of women-led enterprises. Throughout the sessions, one principle surfaced repeatedly: electrification alone is not enough. Solar power must be linked directly to productivity. It becomes transformative only when it powers irrigation systems, processing equipment, cold storage, and other income-generating tools. The boot camp reinforced this systems-thinking approach. Participants were encouraged to move beyond counting installations and instead examine adoption rates, financing trade-offs, gender inclusion metrics, and long-term commercial viability. Rethinking business models. Through facilitated exercises and coaching rounds, the Nigerian enterprises were asked to define what long-term impact looks like and then work backwards to identify barriers and enabling conditions. "Although some women can afford solar-powered equipment for their businesses, a larger percentage cannot. These are the people EWAS is here for. EWAS has taught us to tweak the payment structure, so it becomes more affordable and accessible," Ijeoma Adigo, gender expert lead and project manager at SunFi, reflected on a key learning. That shift, from selling solar-powered equipment to designing strategies to increase access, marked a turning point in the conversations. Facilitators identified difficult trade-offs in participants' pitch presentations. They guided participants on how to balance affordability with sustainability; how productive-use solutions could reach rural, off-grid communities without increasing transportation and logistics costs; and how businesses could support women balancing their work and household responsibilities. Discussion underscored the structural barriers that rural women face, including distance from urban centers, transportation costs, and uncertainty around energy supply. These challenges require intentional design, not afterthought solutions. Inclusion and partnerships as growth strategies. A defining insight from the boot camp was that gender inclusion strengthens both economic outcomes and community resilience. EWAS positions women and youth as independent business owners and drivers of local economic resilience. Uzochukwu Mbamalu, CEO of Manamuz Group, described the EWAS program's approach: strengthening enterprises like his to deploy PUE technologies at scale, while ensuring that women farmers benefit from higher-quality produce and reduced spoilage. The emphasis on partnership was also consistent throughout the convening. No single organization can deliver market access, financing, skill building, and deployment at scale alone. "Partnership is essential in ensuring that EWAS not only succeeds but can scale and be replicated elsewhere," said Sarah Maina Kanda, lead manager for EWAS Africa at the Global Energy Alliance. She added that the goal is to strengthen local partners and leave institutional knowledge within communities so that scaling can continue beyond the presence of funders. As the final presentations were made, the shift in tone was clear. Conversations had moved from possibility to implementation. The participating enterprises presented refined models designed to reduce post-harvest losses, stabilize incomes, create dignified jobs, and embed women at the center of energy-enabled agricultural growth. The boot camp clarified that solar-powered cold storage can extend shelf life and income. It demonstrated that gender-responsive financing strengthens adoption. It reinforced that clean energy deployment must be tied to measurable livelihood outcomes. Most importantly, it proved that the roadside produce exposed to the elements represents a solvable inefficiency within a system ready for transformation. Translating learning into action. As EWAS transitions into its next phase, the next step is implementation at scale. What began as conversations in Abuja now represents a growing model for how clean energy can strengthen food systems across Nigeria, turning energy access into widespread economic resilience. EWAS demonstrates a broader lesson for clean energy deployment across emerging markets: access to electricity alone does not drive development. Impact emerges when energy solutions are intentionally designed to align with livelihoods, financing realities, and inclusion. The roadside markets remain a reminder of what is at stake. But the conversations, commitments, and clearer pathways emerging from the boot camp suggest that the shift from learning to action is already underway.

BigEye.UG
Apr 3rd, 2026
Uganda International Fashion Week opens casting call for next generation of models.

Uganda International Fashion Week opens casting call for next generation of models. By Its Reporter As Momentum builds for the return of Uganda International Fashion Week (UIFW) this June, organisers have officially launched a nationwide search for the next generation of runway stars through a model casting initiative dubbed #ModelsForImpact. The casting call invites aspiring and professional models from across Uganda and the region to step forward and take part in what organisers describe as more than just a runway opportunity, but a platform for transformation within Africa's growing creative economy. Scheduled to take place on Saturday, April 4, 2026, at the Makerere University Art Gallery, the casting will bring together fashion industry professionals in search of bold, confident, and driven individuals ready to shape the future of African fashion. The call is open to young people, mainly women and girls aged 15-35, welcoming both fresh faces and experienced talent. In line with UIFW's broader vision of inclusivity and opportunity creation, the casting also encourages participation from individuals of diverse backgrounds, including persons with disabilities and refugees. According to organisers, the initiative is part of the wider vision of Uganda International Fashion Week 2026, which returns after a six-year hiatus with a renewed mission to strengthen Africa's fashion ecosystem and empower young creatives. "Through Models for Impact, we are redefining the role of models, building a movement that nurtures individuals who create change, shape perception, and stand for something bigger than fashion." Noted Santa Anzo, founder Uganda International Fashion Week (UIFW). Founded in 2003 by renowned fashion entrepreneur Santa Anzo, Uganda International Fashion Week has long been one of the continent's most influential fashion platforms, connecting African designers and creatives to global opportunities. This year's edition will run from June 22-27, 2026, at the Kampala Serena Hotel and forms part of a broader Creative Economy Program (2026-2028) designed to equip thousands of young people with practical skills, mentorship, and access to markets within the fashion and creative industries. The program, supported by the Mastercard Foundation and implemented in partnership with the International Trade Centre and Bayimba Foundation, aims to empower more than 9,800 youths aged 15-35, the majority of them women and girls, by opening up pathways for employment and entrepreneurship within the fashion value chain. Organisers say the runway casting is an important gateway for young people looking to build careers in modelling and the broader fashion industry. "This is more than a casting," Santa Anzo noted. "It is an opportunity for young people to become part of a movement that is positioning fashion not only as an art form, but as a powerful driver of economic opportunity and cultural expression." Selected models will have the opportunity to walk alongside some of Africa's leading designers during Uganda International Fashion Week, gaining valuable exposure, mentorship, and connections within the industry. Interested participants are encouraged to pre-register online via fashionweek.uifwglobal.com to secure a slot, as spaces for the casting are limited. The #Models4Impact call marks the beginning of an exciting journey for young creatives ready to take their first step onto one of Africa's most influential fashion stages.

University of Port Harcourt
Mar 30th, 2026
2nd aprnet international conference and agrifood system stakeholders forum (AICASF 2026).

2nd aprnet international conference and agrifood system stakeholders forum (AICASF 2026). Share: More posts. Click below to register for free website development for women-led enterprises. https://docs.google.com/forms/d/e/1FAIpQLSdYHTWYG-7qgCHMrPUStzNTa76gk1BqRtjXAQLEP0KOGfDoEw/viewform The Sustainable Development Goals Nigeria/Africa Region (Rivers State Chapter) in collaboration with Kengema Youth Entrepreneurs and Innovators Hub (KYEIH), TAGDEV 2.0 Program, University of Port Harcourt, with support from RUFORUM and in partnership with Mastercard Foundation, hosted the First Niger Delta Youth Summit on Sustainable Development Goals (SDGs) with the theme 'Empowering Youth for Inclusive Are you a youth passionate about promoting Sustainable Development Goals (SDGs)? This is for YOU! Kengema Youth Entrepreneurs and Innovation Hub (KYEIH), in collaboration with TAGDev 2.0 Program, University of Port Harcourt, with support from RUFORUM, in partnership with Mastercard Foundation, invites you to the 1st Niger Delta Sustainable Development Goals Youth Summit. Theme: Empowering

Acumen
Mar 25th, 2026
Green RISE Africa: working with the next generation of green entrepreneurs.

Green RISE Africa: working with the next generation of green entrepreneurs. Unlocking up to half a million jobs for women and youth in Africa. Mar 25, 2026 * News * All impact sectors * Cross region Across sub-Saharan Africa, young people are already building the solutions their communities need, from clean energy distribution and climate-smart agriculture to electric mobility and circular economy ventures that strengthen local value chains. Yet many continue to face barriers to growth. Green RISE Africa (Resilient Impact through Sustainable Entrepreneurship) is a five-year program designed to strengthen Africa's emerging green economy and expand dignified work opportunities for women and young people. Implemented by Acumen* in partnership with the Mastercard Foundation across 15 markets: Kenya, Uganda, Rwanda, Tanzania, Ethiopia, Burundi, South Sudan, Somalia, Nigeria, Ghana, Sierra Leone, Liberia, The Gambia, Côte d'Ivoire, and Senegal, the program builds on growing momentum by working with young African entrepreneurs to deepen their participation in the green economy, driving climate solutions and economic empowerment for 443,200 people, including 308,000 young women living in poverty. "African entrepreneurs are already solving problems in their communities," said Chris Maranga, Africa Director, Acumen. "But too often they lack access to the leadership development, capital, market and networks needed to grow their ideas into more sustainable, greener enterprises." "Our vision for Green RISE Africa is simple, but ambitious - to help build an ecosystem where climate-positive enterprises can grow and create work opportunities at a level that can meaningfully shift economic growth for young entrepreneurs across the continent." Moyin Okubor, Program Lead, Acumen The Green RISE Africa program is designed with multiple pathways to support green entrepreneurs from early-stage ambition to scaling enterprises that enable access to dignified and fulfilling work opportunities for young people, particularly young women living in poverty. Participants will have the opportunity to deepen their impact through: * A six-month Fellowship program, offering training focused on values-based leadership, business model clarity, and access to a peer community designed for young climate leaders. * An Accelerator program to provide training and learning for existing green enterprises to refine their business models, strengthen green practices, and position themselves for growth to reach more women and youth. * Additional training, learning opportunities, and access to funding for projects aimed at expanding inclusive green jobs and scaling green economy solutions across the region. If you are a green entrepreneur based in East or West Africa, register your interest here to receive further information. *About Acumen: The Green RISE Africa program is being executed by Acumen Canada, a Canadian registered charity and Acumen affiliated entity. Acumen Canada will implement the program with the mobilization of Acumen's global affiliates. Reference to "Acumen" refers collectively to Acumen Canada and its affiliates.

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