Overview
The Mastercard Foundation creates opportunities for young people in Africa and Indigenous communities in Canada through education and financial inclusion. Its major programs include the Scholars Program, which provides scholarships, mentorship, and seed funding to young leaders, and the Social Venture Challenge, which funds young entrepreneurs and connects them to a global network of changemakers. It works by partnering with private sector, donors, and civil society to build systems, policies, and environments that let young people thrive. Its goal is to help young people be included, thriving, and able to drive transformative change in their communities.
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About Mastercard Foundation
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Company Size
501-1,000
Company Stage
N/A
Total Funding
N/A
Headquarters
Toronto, Canada
Founded
2006
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What believers are saying
- November 2026 launched Africa Youth Employment Clock sharpened labor-market targeting for West Africa.
- November 2026 pledged $11.4 million to Indigenous Screen Foundation for 2027 applications.
- November 2026 SAWA and KCB partnerships expand financing, training, and jobs pipelines.
What critics are saying
- No unsolicited proposals limit agility and centralize power inside Toronto gatekeepers.
- Job-creation claims depend on partners like Agri-Impact, Injini, and UNCDF delivering results.
- If 2030 employment targets miss, Mastercard Foundation loses credibility with governments and grantees.
What makes Mastercard Foundation unique
- $7 billion-plus assets fund patient, multi-year bets across Africa and Canada.
- Young Africa Works and EleV target jobs, not charity, in 46 countries.
- Partners like Africa CDC, WDL, and ISO extend reach without heavy in-house delivery.
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Makerere admits power outages hurting disabled students. Saturday, November 07, 2026 * Whenever there is power outage, lift fitted in halls to ease movement of students with disabilities stops functioning, subjecting students to climb stairs with difficulty Makerere University leadership has acknowledged that frequent power outages continue to cause distress among a section of students with disabilities, especially those residing in newly refurbished Mary Stuart Hall. Prof Sarah Ssali, the Deputy Vice Chancellor of Makerere University, explained that whenever there is a power outage, the lift fitted in the hall to ease movement of students with disabilities stops functioning, subjecting students to climb stairs with difficulty. "We are trying very hard to ensure that all the buildings at the university are disability compliant by making them accessible although sometimes we get challenged with UEDCL (Uganda Electricity Distribution Company Limited) when lifts don't work because of a power outage. But we can work together to have stable power supply," Prof Ssali said during International Day for Persons with Disabilities organised by Makerere University in partnership with Mastercard Foundation and other stakeholders at university on November 6. Mary Stuart Hall, which has capacity of about 500 students, is the oldest and largest female residence at Uganda's premier university. The Hall was recently renovated by the government and boasts a fully functioning lift, modern washrooms, laundry facilities, and reading and common rooms among other facilities. Prof Ssali said the University is committed to creating an environment where students and staff with disabilities do not have to struggle or negotiate their way into accessing services that should ordinarily be available to everyone else. Available records indicate that out of 27,573 students at Makerere University, 147 are students with disabilities representing 0.5 percent of the university population. "The University recognises the importance of coordinated support system that addresses the academic, social and physiological wellbeing of persons with disabilities. We continue to strengthen the capacity of relevant structures to respond effectively to the diverse needs of students and staff. This should also be reflecting in the way we teach, learn, conduct research, provide services, allocate resources to the university," she said. Dr Winifred Namuwonge Kabumbuli, the Dean of Students at Makerere University, said the university has demonstrated commitment to disability inclusion through establishment of disability support resource centre for students and staff to fit in social and academic environment, refurbished and equipped halls of residence, library, provided devices, caregivers and interpreters and transport means to promote equity, accessibility. Mr Daniel Kidega, Deputy Chairperson of Makerere University Council, said building for future means creating inclusive university where everyone regardless of disability has equal opportunity to access education, participate and realise full potential. "We cannot genuinely claim to build for the future if members of our university community continue to encounter barriers to their full participation and learning ability. However, the true measure of our commitment is not a number of policies we have enacted but rather the effective implementation and impact to our people," he said, reaffirming council's readiness to provide strategic direction, regulative guidance and oversight to ensure policies translate into meaningful transformation. "As a globally recognized institution, Makerere must remain aligned in the international commitments, particularly the UN Sustainable Development Goals especially SDG 4 which emphasizes quality of education, SDG 10 which emphasizes reduction in inequalities, SDG 16, which talks about inclusive accountability institutions. At the national level, Uganda Vision 2040, and National Development Plan (NDP IV) emphasize inclusive human capital development and equitable opportunities which is our core responsibility as a university," he said. Kampala City Lord Mayor, Engineer Ronald Balimwezo also demanded that mass transport system must be inclusive. Mr Balimwezo challenged the duty bearers to ensure legal instruments translated into tangible improvements in lives of persons with disabilities. Ms Jemima Mirabu Namuli, student of Makerere University pursuing Bachelor of Applied Psychology, called for sensitisation so that the needs of persons with disability can be appreciated and met. Ms Laura Kanushu, lawyer and National Youth Female Legislator representing persons with disabilities in 12th Parliament, pledged to push for the inclusive budgeting for all sectors of economy. "Inclusive budgeting should be intentional and must move from one box of the Ministry of Gender and Social Development. That is not where persons with disabilities belong, we belong to all ministries including education and health. We have issues because government has put us in the box Ministry of Gender," she said.
Uganda's five-year curriculum struggles to keep pace with fast-changing technology. Friday, November 06, 2026 * Curriculum meant to carry technology into those classrooms is still finding its feet Uganda reviews its curriculum once every five years, and yet technology changes by the hour. In less than half that time, generative AI, tools such as ChatGPT that write text, create images and answer questions on request, went from launch to everyday use, and new versions keep arriving. World of work alone is changing every single day. About half of jobs in sub-Saharan Africa already require some digital skills, according to International Finance Corporation, and classroom is where most young people should first meet them. The readiness gap Uganda's classrooms, which are supposed to prepare future generations for ever changing world, are struggling to keep up. Of more than 3,200 secondary schools assessed for digital readiness, only 20 percent were found to be fully ICT-ready, with reliable electricity, stable internet and enough digital devices. More than a third have no internet access at all. Barriers exist in several layers, schools with partial connectivity typically get between five and 16 hours of electricity a day. Across country, there is on average one digital device for every 63 students, and rural schools are more likely to be unplugged. And to close these gaps, sector relies on less than 3 percent of GDP education budget for last three financial years. Curriculum still finding its feet Curriculum meant to carry technology into those classrooms is still finding its feet. Competence-based curriculum was rolled out for lower secondary education in 2020, and six years on, national assessment found some schools are reverting to traditional teaching methods and assessment styles. At recent EdTech Baraza, organised by NTV Uganda's EdTech Mondays series with support from Mastercard Foundation, educators, policymakers, innovators and researchers convened to ask how technology can make education accessible, inclusive and relevant. Amid arguments and counterarguments, one question hung in room. Are Uganda's schools leaving a generation behind? Filbert Baguma, Secretary General of Uganda National Teachers' Union, fears they may be. "What is applicable today, tomorrow will have changed. So if we are going to remain saying the timeframe for the curriculum is five years, shall we fit in the current situation of technology?" he asks. Cost, he says, shows up when students graduate and now have to face world of work. "Today in Uganda, for you to get a job, they would say we need experience. Why is it that in the school set-up we cannot produce products who are competent enough to go and get the jobs?" Baguma asks. Why five years Education ministry however, urges caution. Dr Denis Mugimba, Spokesperson for Minister of Education and Sports, says moving too fast could leave most schools behind. "We want to put guardrails to ensure that curriculum objectives are not mandating ICTs as tools for learning which will disadvantage the majority that do not have access," he says. "You can end up having an elitist education system that only favours the haves against the have-nots," Dr Mugimba adds. Dr Mugimba, however, clarifies question of pace. Five-year clock, he says, is not set in stone. "There is no law, there is no UN standard. But it is more or less industry practice by most global education departments in several governments," he says. Cycle, he explains, buys stability. Rolling out revised curriculum is costly, and learners need consistency from one class to next. "You do not want a learner to have started Senior One with a particular curriculum, then when they are completing Senior Two, you are introducing a different curriculum," he says. Mugimba also notes it guards against problem ministry has lived through. He says previous curriculum had been in place since independence, up until 2016, and was always patched with annual additions until it became too heavy to carry. "They were doing annual updates, adding subjects, rarely removing, and it just became so heavy," he says. It is also quite notable some technologies have already taken root into classrooms. Number of education technologies are already reshaping lessons within curriculum schools. With huge concerns about reach and inclusion, AI tools that bring history lessons to life, and digital simulations that show how microorganism develops in biology today are being used widely. Inside the classroom If schools are to catch up, teachers will carry most of weight. Dr Tibakanya Joseph, Curriculum Specialist at National Curriculum Development Centre, notes technology changes learning only in hands of teacher who knows how to teach with it, and that goes beyond teacher's own digital skills. Many are not there yet according to Baguma, he points to generation of teachers trained on typewriters, some now two to three years from retirement. Training them, he argues, has to happen where they work, and cost them nothing. "Continuous professional development needs to start from the school level and must be as cost-free as possible so that teachers do not look at it as a burden," he says. Some of that training is under way. Leaders in Teaching programme, led by Ministry of Education and Sports with support from Mastercard Foundation, works with 2,091 secondary schools and estimated 74,800 teachers, according to UNICEF. What learners need Training teachers for today's tools does not settle what learners will need for tomorrow's. Dr Mugimba argues schools should teach them to keep learning long after they leave. "We need an education system that will help us to learn how to learn. When you learn how to learn, you will be agile, flexible, adaptable," he says. On artificial intelligence, Valentine Masicha, Founder and CEO of Mindset Coders, cautions against it spreading as casually as WhatsApp did. "We need to really build a system where everyone can interact with AI productively, and not as casually as WhatsApp came, and everyone has WhatsApp," Masicha says.
World Data Lab, Mastercard Foundation launch Africa Youth Employment Clock. By Peter Oluka World Data Lab (WDL), in partnership with the Mastercard Foundation, has announced the launch of the Africa Youth Employment Clock in Côte d'Ivoire on November 3, 2026. According to the Africa Youth Employment Clock (AYEC), Africa is experiencing a historic and unprecedented growth in its youth population: around 132 million young people aged 15 to 35 are expected to be added between 2020 and 2030. By 2026, young people are projected to account for 35% of the continent's total population. Of the roughly 556 million young Africans on the continent in 2026, 318 million (57%) are employed, 107 million (19%) are not in employment, education or training (NEET), and 131 million (24%) are pursuing their studies. This demographic growth represents both an immense opportunity and an urgent call to action: investing in education, skills development and pathways to dignified and fulfilling work will be decisive in enabling young Africans to participate fully in the continent's economic transformation. In Côte d'Ivoire, the Africa Youth Employment Clock estimates that young people aged 15 to 35 number around 11.2 million, or 37% of the country's total population in 2026. Of these, around 6.3 million (56%) are employed, while 1.8 million (18%) are not in employment, education or training. In addition, 3.1 million (26%) are pursuing education or training. These figures highlight a significant opportunity to harness the country's youthful population by strengthening the bridges between education and employment, expanding access to formal employment, and ensuring that young women can participate more fully in the economy. By making youth employment trends and projections accessible, the Africa Youth Employment Clock provides an important evidence base that enables policymakers, employers and development partners to design more inclusive approaches to youth employment and economic participation. The Clock is a user-friendly, publicly accessible digital tool available at www.africayouthjobs.io. The Africa Youth Employment Clock will support and inform the journey toward more inclusive African labor markets through cutting-edge data modeling and visualization techniques. In line with the African Union's definition, the Clock defines young people as those aged 15 to 35. As some countries use a different definition of youth, users can filter for specific age groups. The Clock's data analysis model provides credible estimates of youth labor market outcomes, broken down by sex, age, place of residence, level of education and sector of activity, through 2040. It also includes data on job formality, type of employment, income, in-work poverty, urban and rural employment, and reasons for inactivity. The first of its kind, the Clock is set to become an essential reference for comprehensive data on youth employment in Africa. It aims to inform strategic decision-making by policymakers, development actors and other stakeholders in the youth and work ecosystem. The Clock draws on surveys and datasets made available by national statistical institutes (labor force surveys and household surveys), the International Labour Organization (ILO) and the International Institute for Applied Systems Analysis (IIASA). WDL's peer-reviewed methodology produces consistent data that are comparable across countries. It rests on the assumption that demographic and employment trends will continue in line with historical data and current economic conditions. "In Côte d'Ivoire, the youth employment situation reveals significant differences in how young women and young men access economic opportunities. While young men are more likely to be employed, young women face greater barriers to entering the labor market. Among 15-25-year-olds, 25% of young women are not in employment, education or training (NEET), compared with 13% of young men. Among 26-35-year-olds, the gap widens: 17% of young women are NEET, compared with just 6% of young men. Even when they work, inequalities persist: young women earn less than men in every sector of activity, with the largest gap seen in services, where their income is 37% lower. These findings underscore the importance of looking beyond job creation alone to ask who gets access to opportunities, the quality of those opportunities, and young women's ability to take part and progress on an equal footing. Through the Africa Youth Employment Clock, World Data Lab is making these employment trends more visible and giving policymakers and partners the evidence they need to design more inclusive pathways to dignified and fulfilling work for the young people of Côte d'Ivoire," said Dr. Reshma Sheoraj, senior vice president of World Data Lab. "The Africa Youth Employment Clock provides valuable, data-driven insights into youth employment trends across Africa, including the evolving realities and dynamics facing young people in Côte d'Ivoire. By making data more accessible and actionable, it gives policymakers, development partners and other stakeholders the evidence they need to build stronger partnerships, align investments and develop solutions that respond to young people's aspirations. At the Mastercard Foundation, Techeconomy believe that young people, and young women in particular, must be at the heart of efforts to shape the future of work in Africa. Tools like the Clock are essential to guiding its programs and advancing its shared ambition: enabling young people to access dignified and fulfilling work," said Elisee Kamanzi, acting country director, WAEMU, Mastercard Foundation.
#Firstlook: Indigenous Screen Office partner with Mastercard Foundation. * November 02, 2026 * admin * First Look * No Comments The Board of Directors and CEO of the Indigenous Screen Office (ISO) are pleased to announce the launch of a new charitable organization dedicated to training and education, with a focus on Indigenous youth. The Indigenous Screen Foundation (ISF) launches with a five-year commitment of $11.4m from Mastercard Foundation to deliver funding and build the organization's capacity and growth. The inaugural Youth Screen-based Training and Education Program will provide grants to charitable and non-profit organizations, and educational institutions, to deliver Indigenous-led creative, technical and professional training and education for Indigenous youth (under the age of 35) in screen-based storytelling. The program will open for applications in January 2027. Funding for the program comes through the ISF's partnership with the Mastercard Foundation EleV Program, which aims to transform education and employment systems in Canada in service of Indigenous youth. ISF will continue to grow the fund through new philanthropic partnerships. "We have worked with the team at Mastercard Foundation for over three years to develop this incredible future-building partnership," says Kerry Swanson, CEO of ISO and ISF. "We are thrilled to launch the new Foundation with a partner who is aligned in our mission to create meaningful livelihoods and creative opportunities for Indigenous youth in screen-based storytelling." The Indigenous Screen Office created the ISF because as Indigenous storytelling gains momentum and success, it is vital to invest in the next generation of talent. Training for Indigenous youth is not only about developing technical skills for the screen sector and providing job opportunities for youth, it is a profound commitment to cultural self-determination and economic sovereignty. For too long, the stories told about Indigenous communities have lacked their authentic voice. When Mr. Will Wong invest in Indigenous youth to tell their own stories, they don't just enrich the growing global media landscape in Canada - they claim their rightful place in shaping a shared future. "Creative industries including film and storytelling are growth sectors of importance and interest to Indigenous youth and their communities," says Jennifer Brennan, Senior Director, Canada Programs at the Mastercard Foundation. "Through this partnership, the Indigenous Screen Foundation will expand opportunities for Indigenous youth to directly engage and build careers in this sector." About the Indigenous Screen Foundation The Indigenous Screen Foundation (ISF) is a registered charity incorporated in 2025 with a mission to build a strong Indigenous workforce in Canada's screen sector and to foster education, healing and reconciliation through Indigenous storytelling. ISF is a sister organization to the ISO, Canada's leading national advocacy and funding organization fostering Indigenous narrative sovereignty for the screen sector. Although they are two separate organizations, they will share resources and collaborate, particularly in the first three years while ISF establishes its organizational capacity. About the Mastercard Foundation The Mastercard Foundation is a registered Canadian charity and one of the largest foundations in the world. It works with visionary organizations to advance education and financial inclusion to enable young people in Africa and Indigenous youth in Canada to access dignified and fulfilling work. Its Young Africa Works strategy aims to enable 30 million young people to access dignified and fulfilling work by 2030, while its EleV strategy will support 100,000 Indigenous youth in Canada to complete their education and transition to meaningful work aligned with their traditions, values, and aspirations. Established in 2006 through the generosity of Mastercard when it became a public company, the Foundation is an independent organization. Its policies, operations, and program decisions are determined by its Board of Directors and Leadership team. For more information on the Foundation, please visit www.mastercardfdn.org. Follow on social LinkedIn: /indigenous-screen-foundation Instagram: @indigenousscreenfoundation Facebook: @Indigenous Screen Foundation
Addis Ababa to host Africa Forum on refugee economic inclusion. October 29, 2026 By Samuel Abate Addis Ababa will host the fourth Africa Private Sector Forum on Displacement from November 16 to 18, bringing together business leaders, government officials, investors and representatives of displaced communities to explore ways to expand economic opportunities for refugees and host communities across the continent. BuyMaps Ethiopia, which hosts more than 1.2 million refugees, has taken legal steps to support refugee integration and access to employment and business opportunities. Across Africa, an estimated 45 million people are affected by displacement, highlighting the need for sustainable economic inclusion. In 2019, Ethiopia adopted Refugees Proclamation No. 1110/2019, which granted recognized refugees and asylum seekers the legal right to engage in wage-earning employment and self-employment. The proclamation also provides a framework for refugee integration and access to basic services, although certain jobs remain restricted to Ethiopian citizens, including positions in the civil service, armed forces and police, as well as other sectors reserved exclusively for nationals. The forum, held under the theme "The Next Act: Creating a More Inclusive Economic Ecosystem," will focus on expanding employment, investment, enterprise development and policies that enable displaced people and host communities to participate more fully in African economies. The event is convened by Amahoro Coalition, Inkomoko and the United Nations High Commissioner for Refugees (UNHCR), in partnership with the Mastercard Foundation. According to the organizers, the three-day gathering will bring together people with lived experience of displacement, including entrepreneurs, workers and community leaders, alongside employers, investors and policymakers to examine practical approaches to economic inclusion. Discussions will draw on research and existing initiatives to identify ways to expand successful models and strengthen partnerships between businesses, investors and governments. The programme will take place at two venues in the Ethiopian capital. Africa Hall at the United Nations Economic Commission for Africa will host activities reflecting on Africa's history and its response to displacement, while the Adwa Victory Memorial Museum will host plenary sessions and other activities. BuyMaps The museum will also feature a marketplace where businesses led by displaced people and members of host communities can showcase and sell their products. Ethiopia-based refugee-led organization "Tomorrow is Better" is partnering with the organizers on the forum and marketplace. Ethiopian organizations and entrepreneurs are expected to contribute local perspectives and showcase their businesses alongside participants from across Africa. The fourth edition builds on previous forums held in Kigali in 2021, Accra in 2023 and Nairobi in 2025. This year's gathering will place greater emphasis on expanding employment pathways, developing investment models, strengthening enterprise partnerships and promoting policy reforms that support economic participation. Hot this week
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About Mastercard Foundation
Industries
Company Size
501-1,000
Company Stage
N/A
Total Funding
N/A
Headquarters
Toronto, Canada
Founded
2006
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