Mastercard Foundation

Agency details

Mastercard FoundationThe MasterCard Foundation is an independent, global organization based in Toronto, Canada, with more than $7 billion in assets. Through collaboration with partner organizations in 46 countries, it is creating opportunities for all people to learn and prosper. The Foundation’s programs promote financial inclusion and advance youth learning, mostly in Africa. Established in 2006 through the generosity of MasterCard Worldwide when it became a public company, the Foundation is a separate and independent entity. The policies, operations, and funding decisions of the Foundation are determined by its own Board of Directors and President and CEO.

Private sector development (PSD) policy and strategy

The Foundation’s funding and partnerships are concentrated in Sub-Saharan Africa and provide a combination of skills-building, education, employment, and access to financial services. The Foundation focuses in two programme areas. The goal of the Financial Inclusion Program is to expand access to microfinance and a broad range of financial services in order to improve the quality of life for people of all ages. These partnerships are building sustainable financial institutions, improving access to appropriate financial services for young people, and promoting responsible finance. The goal of the Youth Learning Program is to prepare young people in Sub-Saharan Africa to engage in the economy and lead change in their communities. These partnerships are scaling access to education, developing skills of out-of-school youth, and connecting youth to jobs.

Transparency, effectiveness and results in PSD