27:
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to secure or create dignified and fulfilling work over the period 2018–2030, with a financial commitment of $ 500 million over the course of the strategy, of which $ 200 million in five-year commitments were revealed in announcements over the course of 2018 and 2019. The Young Africa Works initiative
208:
For the first two years of operation, while the dividends were accumulating, the foundation was run by a board appointed by
Mastercard Inc., which was replaced by an independent board and leadership in 2008. In 2008, Reeta Roy was hired as the first independent president and CEO, working with the new
204:
As documents of creation dictate that the foundation's
Mastercard shares are not to be sold for 21 years, Mastercard Incorporated committed to an additional $ 40 million in direct cash donations to the foundation over the first four years; the foundation's general charitable donations are funded from
317:
harness opportunities for learning and/or acceleration in economic sectors or program areas key to the EleV strategy. They enhance the work of our regional anchor partnerships and strengthen
Indigenous and youth-led social infrastructure and organizations.
236:
At the
African Green Revolution Forum's presidential summit in 2019, Mastercard Foundation CEO Reeta Roy stated “Our goal is simple. It is to make the invisible visible. It’s to enable young people to create dignified work where it does not exist today”.
161:, expanding access to quality education, increasing the opportunities for decent work, and supporting overall economic growth. Funding is primarily managed with bilateral allocations through post-secondary institutions, research institutes,
492:
321:
In March 2018, the
Mastercard Foundation reset its overall strategy for 2018–2030, creating the Young Africa Works long-term plan. The Young Africa Works strategy aims to help up to 30 million young women and men in
778:
A world-class education at Duke
University, supported by $ 13.5 million in funding from The Mastercard Foundation, fosters growth and development in a select group of students from Sub-Saharan Africa.
276:
Scholars
Program received a $ 13.5 million commitment from the foundation's Scholars Program, among a select group of institutions that has been participating in the program since 2012.
359:, amongst the 10 nations involved in the initial announcements. In all cases, the Young Africa Works programs will see bilateral agreements and funding with in-nation institutions,
1032:
305:
and on to meaningful livelihoods. In 2019, it was expanded with a goal of supporting 30,000 Indigenous youth. The EleV Program engages in two kinds of partnerships:
1000:
331:. Further funding commitments, partners and programs have been announced, including: long-term commitments to create, expand or maintain "Young Africa Works in
791:
1072:
565:
As part of its offering, the company plans to donate about 13.5 million newly issued shares to The MasterCard
Foundation, a private charitable group.
150:, has supported work in 49 countries. In 2018, Mastercard Foundation shifted to a specific focus on Africa, through its Young Africa Works strategy.
1044:
Young Africa Works in
Ethiopia... will seek to create employment opportunities for the youth in partnership with Ethiopia's Jobs Creation Commission
309:
focus on creating sustainable systems change led by
Indigenous communities and youth in partnership with a diverse set of stakeholders including
766:
632:
170:
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in 2006. It is the wealthiest charitable foundation in Canada, and one of the wealthiest in the world, with 2024 assets of $ 47 billion.
1024:
102:
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279:
In 2013, the Mastercard Foundation hosted the first Symposium on Financial Inclusion (SoFI); SoFi was held annually through to 2017.
370:, the Mastercard Foundation provided $ 298.3 million for development in 2019, all in the form of grants delivered during that year.
388:
968:
197:, expected to be worth an initial US$ 600 million (equivalent to US$ 906.8 million in 2023), to a newly created independent
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In 2017, the Mastercard Foundation launched the EleV Program, which seeks to support Indigenous youth in
758:
654:
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411:"Mastercard Foundation launches Toronto-based asset manager to oversee $ 47-billion in investments"
282:
In 2015, the Mastercard Foundation Fund for Rural Prosperity (FRP) was launched. It is set up as a
830:
From 2013–2017, the Mastercard Foundation hosted an annual Symposium on Financial Inclusion (SoFI)
993:"Mastercard Foundation's $ 200m initiative to increase access to funding for Senegalese startups"
314:
265:
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the dividends provided by the 13.5 million shares, which were not allowed to be used until 2008.
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55:
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and the private sector, plus multilateral allocations through organizations like the numerous
1082:
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independent board of directors to set the specific direction of The Mastercard Foundation.
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8:
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732:
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2019; long-term commitments to create, expand or maintain "Young Africa Works in
954:
286:, through which the FRP is able to find and support private sector businesses in
273:
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In September 2012, the Mastercard Foundation Scholars Program was announced at a
194:
283:
257:
166:
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921:"Reeta Roy Remarks at Africa Green Revolution Forum 2019 Presidential Summit"
458:
866:
727:
655:"Graduate and honorary doctorate commencement 2019: Living meaningful lives"
233:. It seeks a world where everyone has the opportunity to learn and prosper.
548:
389:"The richest 100 charitable foundations hold more wealth than 5,800 others"
291:
264:
500 million toward the education of 15,000 African scholars for secondary,
792:"The First MasterCard Foundation Symposium on Financial Inclusion begins!"
434:
429:
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to expand financial services to approximately two million people across
728:"BRAC and MasterCard Foundation Expand Microfinance Services in Uganda"
360:
182:
136:
895:
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that can scale up innovative ideas that expand financial inclusion to
193:
5.6 billion; as part of the IPO, Mastercard Inc. donated 13.5 million
867:"Why Does the Mastercard Foundation Fund for Rural Prosperity Exist?"
336:
327:
was first announced in March 2018, at an overall kickoff ceremony in
302:
218:
582:
Fleischer, Victor (University of Colorado Law School) (2006-12-02).
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The Mastercard Foundation dwarfs the wealthiest charities in Canada
340:
955:"Rwandan youth to benefit from Mastercard job-creation initiative"
352:
344:
332:
310:
147:
143:
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459:"Young Africa Works | Mastercard Foundation Strategy: 2018-2030"
1025:"Mastercard Foundation to help Ethiopia create 10 million jobs"
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The foundation develops programs primarily focused on reducing
928:
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26:
493:"Development Co-operation Profiles: Mastercard Foundation"
59:
577:
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430:"Reeta Roy – president and CEO, Mastercard Foundation"
703:"Reeta Roy Remarks at AGRF 2019 Presidential Summit"
584:"The Mastercard IPO: Protecting the Priceless Brand"
245:
In 2008, the foundation launched a partnership with
570:
759:"About the Mastercard Foundation Scholars Program"
217:The Mastercard Foundation's mission is to advance
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763:Duke Office of University Scholars & Fellows
871:Mastercard Foundation Fund for Rural Prosperity
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171:United Nations Sustainable Development Group
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16:International non-governmental organization
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623:"Honorary Doctorate Receipient: Reeta Roy"
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25:
1073:Non-profit organizations based in Toronto
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946:
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387:Rocha, Roberto; Zhu, Kayla (2023-08-04).
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201:to be named the Mastercard Foundation.
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307:EleV Anchor Collaborative Partnerships
427:
541:
142:The organization, which is based in
918:
393:Investigative Journalism Foundation
315:Catalytic and Learning Partnerships
229:and to support Indigenous youth in
13:
816:"Symposium on Financial Inclusion"
544:"MasterCard IPO: Not so priceless"
14:
1094:
1068:Organizations established in 2006
953:Bizimingu, Julius (2018-03-23).
843:"Rural and Agricultural Finance"
1035:from the original on 2020-09-24
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971:from the original on 2018-03-23
935:from the original on 2020-11-01
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769:from the original on 2020-06-17
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740:from the original on 2020-11-20
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653:Muller, Jennifer (2019-05-31).
646:
635:from the original on 2019-05-09
556:from the original on 2018-06-29
469:from the original on 2020-11-01
615:
592:Harvard Negotiation Law Review
535:
511:
421:
409:Bradshaw, James (2024-05-02).
402:
380:
189:(IPO) that valued it at about
163:non-governmental organizations
1:
790:Pierre-Charles (2013-07-19).
659:American University of Beirut
628:American University of Beirut
373:
133:non-governmental organization
260:special session, committing
7:
1078:Foundations based in Canada
428:Versi, Anver (2019-08-15).
347:2019; and announcements in
176:
39:; 18 years ago
10:
1099:
542:Wong, Grace (2006-05-18).
301:on their journeys through
241:Major funding partnerships
212:
919:Roy, Reeta (2019-09-04).
294:farmers and rural areas.
272:levels. For example, the
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187:initial public offering
183:Mastercard Incorporated
56:Charitable organization
1029:New Business Ethiopia
925:Mastercard Foundation
900:Mastercard Foundation
847:Mastercard Foundation
820:Mastercard Foundation
707:Mastercard Foundation
683:Mastercard Foundation
523:Mastercard Foundation
463:Mastercard Foundation
199:charitable foundation
129:Mastercard Foundation
20:Mastercard Foundation
227:developing countries
131:is an international
363:and organizations.
223:financial inclusion
169:entities under the
159:economic inequality
21:
415:The Globe and Mail
288:Sub-Saharan Africa
19:
657:(Press release).
366:According to the
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119:Mastercardfdn.org
107:President and CEO
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1031:. 2019-10-31.
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796:MicroWorld.org
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736:. 2009-11-18.
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519:"Our Approach"
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329:Kigali, Rwanda
284:challenge fund
258:United Nations
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679:"Our Mission"
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1083:Scholarships
1043:
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709:. 2019-09-04
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648:
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626:
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88:Area served
997:Ventureburn
435:New African
413:. Toronto:
391:. Toronto:
361:governments
292:smallholder
1063:Mastercard
1057:Categories
1039:2020-01-21
1007:2020-01-21
975:2020-01-21
939:2020-11-19
905:2022-01-26
881:2020-11-19
852:2020-01-21
825:2020-01-21
801:2020-01-21
773:2020-01-21
744:2020-01-21
713:2020-01-21
688:2020-01-21
664:2020-11-19
639:2020-11-19
560:2020-01-21
528:2020-01-21
504:2020-11-19
473:2020-11-19
441:2020-01-21
374:References
137:Mastercard
98:Key people
549:CNN Money
337:September
311:educators
303:education
219:education
185:held its
103:Reeta Roy
92:Worldwide
1033:Archived
1001:Archived
969:Archived
933:Archived
875:Archived
767:Archived
738:Archived
633:Archived
631:. 2019.
554:Archived
467:Archived
341:Ethiopia
177:Creation
79:, Canada
66:Location
353:Nigeria
345:October
333:Senegal
270:masters
213:Mission
148:Ontario
144:Toronto
114:Website
77:Ontario
73:Toronto
42: (
34:Founded
965:Kigali
896:"EleV"
605:888923
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357:Uganda
324:Africa
299:Canada
251:Uganda
231:Canada
195:shares
155:gender
929:Ghana
587:(pdf)
349:Ghana
733:BRAC
609:SSRN
601:SSRN
597:2007
498:OECD
368:OECD
355:and
268:and
262:US$
247:BRAC
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