The MasterCard Foundation is an independent foundation based in Toronto, Canada with $10 billion in assets. Their vision is to create the opportunity for all to learn and prosper. They promote financial inclusion and advance youth learning in developing countries, primarily in Africa.
The Foundation was established in 2006 due to the generosity of MasterCard when it became a public company. From inception, the company intended the Foundation to be an independent entity. No company executives serve on the Foundation’s Board of Directors.
The Foundation’s programs are serving more than 6 million people in 57 developing countries. Their funding and partnerships are concentrated in 26 countries in Africa and provide a combination of skills-building, education, employment, and access to financial services.
They have chosen to contribute to the new story of an inclusive, more equitable Africa. They are encouraging collaboration and network-building among their partners so that proven models and approaches can be scaled. They believe this will allow people to create their own pathways out of poverty.
Program AreasFinancial Inclusion
The goal of the Financial Inclusion Program is to improve the wellbeing of people living in poverty by ensuring they have access to financial services.
Education and Learning
The goal of the Education and Learning Program is to enable access to quality, relevant secondary and tertiary education for economically disadvantaged youth and to develop next-generation leaders who will support social and economic transformation.
Economic Opportunities for Youth
The goal of the Economic Opportunities for Youth Program is to enable economically disadvantaged young people who are out of school, unemployed or underemployed to transition into employment.