Mastercard to pump USD500m into African education

DEVELOPMENT

|
Image: By BiztechAfrica
Mastercard to pump USD500m into African education

The MasterCard Foundation has announced the launch of The MasterCard Foundation Scholars Program, a  USD500 million education initiative that will provide talented yet economically disadvantaged students from developing countries – particularly from Africa – with comprehensive support for secondary and university education. 

Over the past decade, Africa has been the second-fastest growing region in the world. Seventy percent of the continent's population is under the age of 30, and millions of them will need to enter the workforce.  However, the region still lags the world in secondary and higher education completion rates.  In order to sustain the continent's rapid growth, it will be essential that its young people have the skills needed to participate in a competitive global economy. 

Reeta Roy, President and CEO of The MasterCard Foundation, announced the Scholars Program at a United Nations Special Session marking the launch of Education First.  This initiative led by Secretary-General Ban Ki-moon and Special Envoy for Education Gordon Brown seeks to ensure all children have access to quality, relevant, and inclusive education. The Scholars Program illustrates the values of the Education First initiative and was highlighted as an innovative model for educating young people and encouraging citizenship.

"An education does more than liberate people from poverty, it is the foundation of social and economic progress," said Reeta Roy. "The MasterCard Foundation Scholars Program is a network of extraordinary educational institutions, non-governmental organizations, and young people.  Together, they will contribute to the emergence of a more equitable, dynamic, and prosperous Africa."

Special Envoy Gordon Brown, the former Prime Minister of the United Kingdom, added, "The MasterCard Foundation's significant commitment to provide today's youth with the values, attitudes, and skills to give back and contribute to their societies through education demonstrates the values at the heart of Education First."

The Scholars Program is designed to enable successful entry into secondary school, as well as transitions from secondary school to university, and, ultimately, into the workforce.  At all points, young people will have access to financial, academic, social, and skills-building supports. The Scholars Program will create a peer network of alumni who share a 'give-back' ethos. 

"The MasterCard Foundation scholarship is more than just school fees to me; it's the fuel, it's inspiration, it's courage and confidence," said Joseph Munyambanza, a former refugee from the Democratic Republic of Congo who, at the age of 14, set up COBUR WAS, a non-profit organization that provides nursery and primary school for orphans.  Munyambanza, a graduate of African Leadership Academy, added: "I feel that I am in the right hands because I get support and inspiration, and I have confidence that I will achieve my two big dreams for Africa; better health for my people and better education that changes lives."

The network includes: American University of Beirut – Faculty of Health Sciences, Arizona State University, Ashesi University, Duke University, EARTH University, Michigan State University, Stanford University, University of California – Berkeley, andWellesley College. The Program also includes a partnership with African Leadership Academy to develop an African-based careers network for the Scholars to access internships and jobs across the continent.

 



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE DEVELOPMENT NEWS

Samsung inspires soccer students with ‘I See Your Dream’ campaign in Ghana

Samsung has come out in support of youth football development in Ghana with a coaching camp for 44 young soccer students selected from two junior high schools from Accra Metropolis. Read More

Sustainable Energy Fund for Africa to support 72 MW solar PV power plant in Cameroon

The Sustainable Energy Fund for Africa (SEFA) approved at the end of 2014 a USD 777,000 preparation grant for JCM Greenquest Solar Corporation to support the development of a 72 MW Solar Photovoltaic (PV) power plant as the first renewable energy Independent Power Producer (IPP) in Cameroon.  Read More

One primary school pupil, one tablet: Dakar mayor

Khalifa Sall, the mayor of the Senegalese capital Dakar, has an ambitious plan to equip all the pupils of primary schools of his city with tablets. Read More

Tigo brightens Christmas for over 3,000 children and head porters

As part of its Corporate Social Responsibility (CSR) drive, mobile network operator, Tigo Ghana has climax its Christmas party for less privileged children and female head porters in Accra. Read More

Airtel, Rotary Club to provide clean water for school in Kajiado County

Bharti Airtel has partnered with Rotary Club of Nairobi East for a safe water harvesting project that will provide clean drinking and cooking water Enkeriyan Primary School in Kajiado County and the neighbouring community.    Read More

Airtel to offer mentorship programmes to Good Samaritan Orphans and Destitute centre

Bharti Airtel will offer mentorship programmes to the Good Samaritan Orphans and Destitute Centre in Kayole’s Soweto. The programme is part of the Airtel spirit where Airtel staff voluntarily give both time and expertise at individual and corporate level to positively impact the community. Read More

Airtel enables students in Siaya County to freely access learning materials online

Bharti Airtel now provides free data connectivity to Sigweng Karuoth Primary School in Siaya County, Kenya, as part of its efforts to support Kenya’s education system.         Read More

Nescafe inspires African bloggers at Start Conference 2014

The Nescafe Start Conference 2014 has ended in Accra with a call on young tech entrepreneurs to use their creative ideas and skills to generate innovative business enterprises that would help create job opportunities.  Read More

Huawei Ghana refurbishes Accra Central Library

Huawei Ghana has officially presented a new state of the art library to the Minister of Communication, Dr. Edward Omane Boamah, on behalf of the Ghana Library Authority.  Read More

Vodafone Ghana Foundation ends 2014 with “Bring a Cheer to Your Community” Campaign

Vodafone Ghana says it is receiving proposals from Non Governmental Organisations whose focus is on contributing to the quality of life in rural communities across the country. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

UCC launches 2015 ACIA awardsUCC launches 2015 ACIA awards

Uganda has launched the fifth Annual Communications and Innovation Awards, which celebrate and foster ICT innovation and achievement.

IN DEPTH

Kenya’s digital TV battle hots up Kenya’s digital TV battle hots up

Kenya’s journey to Digital TV broadcasting took a new turn this week, when the Communication Authority of Kenya (CAK) accused three local media firms of intent to disrupt the process.

COMPANY NEWS

Albany CTG, Microsoft, collaborate on School of Government Program

The University at Albany’s Center for Technology in Government (CTG) has announced its collaboration with Microsoft Corporation to deliver executive level training to government leaders in Africa ...

VMware reports fourth quarter and full year 2014 results

VMware, the global leader in virtualisation and cloud infrastructure, has announced financial results for the fourth quarter and full year of 2014.