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The Mastercard Foundation

Manager: Elizabeth Colello
Priority: none

BACKGROUND

About The MasterCard Foundation

The MasterCard Foundation works with visionary organizations to provide greater access to education, skills training and financial services for people living in poverty, primarily in Sub-Saharan Africa. As one of the largest, private foundations, its work is guided by its mission to advance learning and promote financial inclusion to create an inclusive and equitable world. Based in Toronto, Canada, its independence was established by MasterCard when the Foundation was created in 2006.

FIELDS OF INTEREST

education, financial inclusion, economic opportunities

LIMITATIONS

Grants must target at least one of these problem

  • Financial 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.

FINANCIAL DATA

Grants range from $5 Million to $500 Million

SELECTED GRANTS

$13 million over nine years started in 2011 Ashesi University

To provide scholarships to financially disadvantaged students to complete university education

$3.4 million over six years started in 2011 University of Minnesota

To fund tests and support the development of holistic approaches for enabling economic opportunities for disadvantaged youth