The Mastercard Foundation is a Canadian non-profit organization that empowers youth in Africa and Indigenous communities in Canada. It partners with innovative groups to provide access to dignified and meaningful employment opportunities.
Based in Toronto with $40 billion in assets, the foundation has impacted over 50 million people and their households. The goal is to help 30 million youth secure meaningful jobs by 2030.
1. Mastercard Scholarship at University of Pretoria
Since 2014, the University of Pretoria (UP) has offered scholarships with the Mastercard Foundation for excellent African undergrad and postgrad students. From 2024, the focus is on economically disadvantaged African youth with disabilities, displaced persons, or refugees showing academic excellence and leadership potential.
- Program: Undergraduate and Postgraduate degrees
- Location: University of Pretoria
- Benefits: Full funding, accommodation, meals, laptop, living stipend
- Eligibility: Africans
- Deadline: September 30, 2024
2. Mastercard Scholarship at Gondar University
This fully-funded master’s scholarship is for African students from Ethiopia, Somalia, Eritrea, Djibouti, and South Sudan at Gondar University. It covers tuition, accommodation, stipends, laptop, flights, and meals.
It develops scholars’ leadership and professional skills to impact socioeconomic development. Requirements include transcripts, recommendations, nationality proof, resume of academic/volunteer work, and criminal record check by June 30, 2024.
- Program: Master’s degree
- Institution: Gondar University
- Benefits: Full funding, accommodation, stipends, laptop, flights, meals
- Eligibility: Ethiopia, Somalia, Eritrea, Djibouti, South Sudan
- Deadline: June 30, 2024
3. Mastercard Foundation Africa Growth Fund
This $200 million “Fund of Funds” collaborates with African investment funds to back early-stage, growth-oriented small and medium enterprises (SMEs) across the continent, especially those led by female entrepreneurs. The aim is to provide employment for African youth, particularly women.
4. Mastercard Foundation Scholarship at KNUST, Ghana
This fully-funded undergraduate scholarship at Kwame Nkrumah University of Science and Technology in Ghana is for outstanding yet financially constrained African students. It provides accommodation, stipends, and mentorship.
Applicants must have A-level/WASSCE qualifications or equivalent, meet KNUST admission criteria, and not be enrolled elsewhere. Preference is given to females, persons with disabilities, and displaced persons.
- Program: Undergraduate
- Institution: KNUST, Ghana
- Benefits: Full funding
- Eligibility: Africans
5. Mastercard Agribusiness Fund
This fund provides $500,000 – $2.5 million grants to small and medium enterprises in agriculture and the digital economy across 20 Sub-Saharan African countries.
It enabled over 5.3 million people to access financial services, exceeding the 1 million target. Applications must be submitted by November 22, 2024.
- Program: Entrepreneurship
- Benefits: $500,000 – $2.5 million grants
- Eligibility: 20 Sub-Saharan African countries
- Deadline: November 22, 2024
6. Wema Bank/EDC Mastercard Transforming Nigerian Youth Program
This Nigerian program aims to build a network of entrepreneurial and managerial leaders, targeting youth and women in micro, small and medium enterprises (MSMEs).
In partnership with Wema Bank, EDC at Pan-Atlantic University, and the Mastercard Foundation, it provides ₦500,000 funding, market access, support services for existing young entrepreneurs, and innovative learning methods for ages 18-35.
The diverse Mastercard Foundation opportunities include scholarships, internships, mentorship, leadership development, tutoring, career services, tuition assistance and cost-of-living support.
Given the competitive applications, candidates must provide comprehensive and compelling documents showcasing exceptional academics, leadership, volunteerism, research, publications, citizenship proof, and a clean criminal record.
