MasterCard Foundation Pledges $86 Million for African Scholars

MasterCard Foundation Pledges $86 Million for African Scholars

The MasterCard Foundation has announced a commitment of $86.6 million in support of new partnerships with four African universities working to educate a new generation of African leaders.

The commitment of funds to the foundation's Scholars Program will enable an additional twenty-three hundred students to attend college in Uganda (Makerere University), South Africa (University of Pretoria or University of Cape Town), and Ghana (Kwame Nkrumah University of Science and Technology). The four institutions join a global network of twenty-one partners, including institutions in the U.S., Canada, Costa Rica, and Lebanon, that participate in the program.

Launched in 2012, the ten-year, $500 million program aims to inspire young Africans to lead change through education. Students participating in the program receive financial, social, academic, and leadership development support designed to help them graduate and transition to a well-paying job, entrepreneurial opportunity, or further course of study. The foundation expects that roughly three-quarters of the program's alumni will be women.

"The MasterCard Foundation is excited to have these four new partners joining the program," said MasterCard Foundation president and CEO Reeta Roy. "These universities are aligned with the foundation's vision of developing Africa's next-generation leaders who will apply their ingenuity and empathy to drive progress in their communities and countries."

"The MasterCard Foundation Announces New University Partnerships in Africa" MasterCard Foundation Press Release 12/03/2014.