The Mastercard Foundation is one of the world’s largest private foundations, advancing education, financial inclusion, and employment to enable young people in Africa and Indigenous youth in Canada to access dignified work.
The Foundation aims to expand access to education, skills, and financial services so young people—particularly in Africa and Indigenous communities in Canada—can access dignified, meaningful work and contribute to inclusive, sustainable prosperity.
The Mastercard Foundation was established in 2006 by Mastercard International at the time the company became publicly traded. It was endowed with cash and company shares and structured as an independent private foundation. In 2008, the Foundation launched its first microfinance program in Africa, marking an early phase of its work in financial inclusion. Over time, the Foundation expanded its geographic presence, partnering with governments, educational institutions, and civil society organizations, and developed a global operating model focused primarily on Africa and Canada.
The Mastercard Foundation works with partner organizations to design and implement programs that advance education and financial inclusion for young people. Its programming approach is based on understanding young people’s aspirations, needs, and lived realities, with a focus on achieving equitable and sustainable impact at scale. The Foundation collaborates with governments, educational institutions, civil society organizations, and other partners to support pathways through education and into meaningful work. Programs are developed and delivered through partnerships aligned with the Foundation’s strategic priorities and geographic focus.
Young Africa Works: A Foundation-wide strategy with the objective of enabling 30 million young people in Africa, particularly young women, to access dignified and fulfilling work by 2030 through education, skills development, and financial inclusion.
Since its establishment in 2006, the Mastercard Foundation has committed more than USD 13.7 billion to advance education and financial inclusion across 74 countries, primarily in Africa, and to support Indigenous youth in Canada. The Foundation’s work has supported young people in accessing education, skills training, and pathways to work. Through initiatives such as the Scholars Program and the Young Africa Works strategy, the Foundation has contributed to large-scale efforts focused on education systems, workforce development, and financial inclusion. Its activities have informed broader discussions related to youth employment and inclusive economic growth in its regions of focus. The Foundation also works with universities and training institutions through initiatives such as the Mastercard Foundation Scholars Program, which is implemented through partner institutions and organizations.
The Mastercard Foundation works with partners across education, employment, agriculture, digital development, and Indigenous youth pathways. In digital skills and connectivity, it participates in the Partnership for Digital Access in Africa (PDAA), whose partners include Nokia, SpaceX, HMD Global, Smart Africa, and the International Finance Corporation (IFC), among others. Mastercard Foundation In Canada, the EleV Program works with 45+ partner organizations supporting Indigenous youth transitions through post-secondary education and into livelihoods.
The Mastercard Foundation operates offices in multiple locations across Africa, including Kigali, Nairobi, Lagos, Accra, Kampala, Dakar, and Addis Ababa, in addition to its headquarters in Toronto, Canada. The Foundation’s work includes a focus on young women, refugees and displaced persons, and young people living with disabilities. It operates independently from Mastercard Incorporated, with separate governance and decision-making structures. The Foundation emphasizes accountability, learning, and evidence-informed program development across its activities.
