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
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C 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

People at Mastercard Foundation

People at Mastercard Foundation who can refer or advise you

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Simplify's Take

What believers are saying

  • Young Africa Works strategy aims to enable 30 million young Africans to access dignified work by 2030.
  • Education and Transitions platform has expanded quality education access across 33+ African countries since 2009.
  • Mastercard Foundation Scholars Program supports 850 African students pursuing master's degrees via University of Edinburgh partnership.

What critics are saying

  • Planned 13-15% annual sell-down of Mastercard shares over seven years risks market disruption and valuation loss.
  • Diversification starting January 1, 2024, exposes foundation to volatile global markets if target 10% holding is missed.
  • Deed of Gift variation to start alienation early may face regulatory rejection, delaying strategic investment shifts.

What makes Mastercard Foundation unique

  • Focuses exclusively on young people in Africa and Indigenous youth in Canada for dignified work.
  • Delivers wraparound support combining academic, social, and psychosocial aid across 30+ universities globally.
  • Pioneers long-term Indigenous education-healthcare partnerships in Canada, targeting 100,000 beneficiaries by 2030.

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Benefits

Paid Vacation

Company News

AF24NEWS
Jul 4th, 2026
Agrisiti, Mastercard Foundation, partners celebrate emerging agripreneurs at AquaRice 360 Pitch Competition.

Agrisiti, Mastercard Foundation, partners celebrate emerging agripreneurs at AquaRice 360 Pitch Competition. July 4, 2026 Agrisiti, in collaboration with Tagdev 2.0, the University of Port Harcourt, RuForum (Regional Universities Forum for Capacity Building in Agriculture), in partnership with the Mastercard Foundation, has successfully concluded the AquaRice 360 Pitch Competition, crowning outstanding youth-led agribusiness ventures from across Nigeria and marking the culmination of the Agrisiti Hybrid Digital Training on Agribusiness and Climate-Smart Skills Programme. The competition brought together some of the programme's most promising participants, who spent 12 weeks developing practical skills in agribusiness, climate-smart agriculture, entrepreneurship, employability, and business innovation within the rice and aquaculture value chains. -Advertisement- Speaking on the programme's impact, Agrisiti Chief Executive Officer, Joseph Ante, reaffirmed the organisation's commitment to building the next generation of agricultural entrepreneurs. -Advertisement- -Advertisement- "Its commitment to empowering the next generation of agricultural entrepreneurs remains unwavering. Through strategic partnerships, mentorship, and access to opportunities, AF24News is equipping young people with the tools they need to build successful agribusinesses and contribute meaningfully to food security and economic development. "The success of these participants reinforces our belief in the potential of youth to transform agriculture across Africa," Ante added. Designed to equip young people with the knowledge, networks, and confidence required to thrive in agriculture, the programme engaged 3,591 youths across Ogun, Enugu, Cross River, Rivers, Bayelsa, Kano, and Niger States through a combination of digital learning, mentorship, practical demonstrations, field immersion, and business development activities. At the AquaRice 360 Pitch Competition, participating teams presented innovative business solutions addressing challenges and opportunities across the rice and aquaculture value chains. Their ideas were assessed on innovation, feasibility, market potential, sustainability, team capability, and social impact. Across the seven participating states, several outstanding ventures emerged as state champions. These included Green Coal Initiative in Niger State, AgroAqua Innovators in Ogun State, Aqua Drift in Bayelsa State, RIV Farm in Rivers State, Agri Nourisha Limited in Enugu State, AgroFusion in Cross River State, and Egodinula Farms & General Enterprises in Kano State. The winning teams showcased innovative approaches spanning rice production, aquaculture, fish processing, value addition, agribusiness services, and climate smart farming practices. Cash prizes and seed capital awards, were given to the winning teams with access to mentorship opportunities, business advisory support, ecosystem partnerships, and connections that will help accelerate the growth of their enterprises beyond the programme. According to the Chief Executive Officer, the programme was developed in response to growing concerns around youth unemployment, food insecurity, and declining participation in agriculture despite the sector's immense potential for economic growth. Ante explained that by combining technical training with entrepreneurship development, employability support, mentorship, and real-world exposure, the initiative seeks to position agriculture as a viable and attractive pathway for young people. Participants completed online learning modules, participated in team-based agribusiness projects, attended practical demonstrations and field immersion activities, and received mentorship support to refine business concepts and career pathways. Many participants also developed investor-ready business models and strengthened their professional readiness for employment opportunities within the agricultural sector. Beyond the competition, programme partners remain committed to supporting participants through continued access to mentorship, business incubation opportunities, industry networks, and employment pathways. As Africa's youth population continues to expand, initiatives such as the Agrisiti Hybrid Digital Training on Agribusiness and Climate-Smart Skills Programme demonstrate the critical role of partnerships in creating sustainable livelihoods, strengthening food systems, and unlocking young people's potential to drive inclusive economic growth. Agrisiti Nigeria Ltd is a digital agritech company delivering integrated urban farming, education, and hardware solutions that empower people to grow food sustainably for livelihood and subsistence. -Advertisement-

New Vision IT Ltd
May 30th, 2026
Six Ugandan startups win $40K grants to accelerate digital solutions for small businesses

Six Ugandan startups have won refundable grants of up to $40,000 each through the 10X Digital Startup Accelerator Challenge, implemented by Outbox Uganda in partnership with UNCDF and supported by Mastercard Foundation. The recipients include Everpesa Technologies, Everlend Agritech, Go Use Tech, Smartfric, Grouppay and Greenlife Africa. Selected from 78 applicants, the startups will receive six months of technical assistance, mentorship and connections to mobile network operators and financial institutions. The initiative targets solutions helping Ugandan micro, small and medium enterprises thrive in the digital economy across sectors including agriculture, healthcare and trade. Standout innovations include Greenlife Africa's smartphone financing for rural women and Smartfric's offline bookkeeping platform. The programme aims to reach 61,000 young women during its three-year pilot phase.

Forum for African Women Educationalists (FAWE)
May 26th, 2026
FAWE Ghana joins Mastercard Foundation Community Week 2024 Celebration, reaffirms power of partnerships in transforming young lives.

FAWE Ghana joins Mastercard Foundation Community Week 2024 Celebration, reaffirms power of partnerships in transforming young lives. ACCRA, Ghana - From 11 to 15 May, FAWE Ghana proudly joined the Mastercard Foundation in Ghana and other strategic partners at the 2026 Community Week Celebration, held at the Marriott Hotel in Airport City, Accra. The week-long event, convened under the theme *"Creating Impact Together,"* brought together a diverse array of stakeholders to celebrate collective achievements and to reaffirm the transformative power of collaboration in shaping the lives of young people across Africa. Representing FAWE Ghana, Ms. Dora Mochiah, Programs Officer, participated in a series of insightful engagements that highlighted how intentional, partnership-driven programming can yield sustainable and scalable impact. Throughout the celebrations, Ms. Mochiah engaged with fellow partners, young leaders, and Foundation representatives to exchange lessons learned and explore new avenues for deepening collaboration around girls' education, skills development, and youth empowerment. The event featured powerful remarks from Mastercard Foundation President and CEO, Ms. Sewit Ahderom, whose vision for youth-centred, partnership-led development resonated throughout the gathering. Equally compelling was the call to action issued by Mr. Paul Kasanga, Interim Country Director for the Mastercard Foundation in Ghana, who urged that young people must be engaged not merely as beneficiaries but as active partners and co-creators of change. From these addresses, one message stood out clearly: sustainable impact thrives on strong partnerships, shared purpose, and collective action. The Community Week Celebration provided a valuable platform for reflection, learning, and renewed commitment towards advancing opportunities for young people and communities across the continent. For FAWE Ghana, the week served as both an opportunity to showcase the organization's contributions under the FAWE/Mastercard Foundation Phase II Programme and to draw inspiration from the work of other partners dedicated to Africa's transformation. The engagements further strengthened FAWE Ghana's resolve to continue advocating for gender-transformative education and to ensure that the voices of young women and girls remain central to all partnership discussions. As the week concluded, FAWE Ghana left Accra with deepened relationships, fresh insights, and a reinvigorated commitment to creating impact together - because when partners unite around a shared vision for Africa's young people, the results are not only measurable but truly transformative. Facebook Twitter Youtube

The Next Africa
May 26th, 2026
Cameroon’s Papylon Lands Mastercard Grant to Build Circular Fashion System - Catalysing Growth. Connecting Entrepreneurs. Transforming Africa.

Cameroonian entrepreneur Fongwa Vanessa Ngwi has secured $5,000 in startup funding from the Scholars Enterprise Fund under the Mastercard Foundation Scholars Program at the University of Edinburgh, positioning her circular fashion startup Papylon at the centre of Africa’s fast-emerging sustainable textile economy. The award highlights a growing wave of African entrepreneurs attempting to solve one

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.

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