The MasterCard Foundation has announced a 10-year, $500 million commitment to enhance educational opportunities for Africans. The foundation, based in Toronto, has established a global network of institutions that will bring African students to their campuses under full scholarships. The students will also receive mentoring and leadership development and life skills support. Some 15,000 students are expected to benefit from the program over the next decade.
Reeta Roy, president of the MasterCard Foundation states, “An education does more than liberate people from poverty, it is the foundation of social and economic progress.” She notes that the new MasterCard Foundation Scholars Program is “a network of extraordinary educational institutions, nongovernmental organizations, and young people. Together, they will contribute to the emergence of a more equitable, dynamic, and prosperous Africa.”
Among the partnering institutions in the United States are Arizona State University, Michigan State University, Stanford University, the University of California Berkeley, Duke University, and Wellesley College. As an example, Michigan State will receive $45 million over 10 years for the education 100 undergraduates and 85 graduate students.
Here is a video containing more information about the program.