Mastercard to pump USD500m into African education
DEVELOPMENT| Sept. 27, 2012, 10:46 a.m.
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.
MORE DEVELOPMENT NEWS
Airtel to offer mentorship programmes to Good Samaritan Orphans and Destitute centreBharti 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 onlineBharti 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 2014The 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 LibraryHuawei 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” CampaignVodafone 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
Schneider Electric announces creation of Algerian-French centre of excellenceSchneider Electric has announced the signing of a three-way partnership agreement with the Algerian Ministry for Vocational Training and Education and the French Ministry for National Education for Education and Research. Read More
MTN Ghana Foundation marks seven years of CSI in GhanaMTN Ghana Foundation is marking seven years of outstanding and impactful Corporate Social Investments in Ghana. Read More
ICTs: Gabon tops Francophone AfricaMany analysts were hoping that countries such as Senegal and Morocco would top the French-speaking list in the ITU's 2014 ICT Development Index (IDI). But it was not to be because oil-rich and less populated Gabon grabbed the gold medal. Read More
45 learners graduate from Dimension Data Saturday SchoolDimension Data, the USD6 billion ICT solutions and services provider, has announced that 45 learners have graduated from its innovative Saturday School Programme. Read More
African telcos partner with AU to ‘kick Ebola out of Africa’Telecommunication companies across Africa have united to partner with the African Union (AU) Commission to garner resources in support of Ebola affected countries in West Africa. Read More
FEATURED STORYPWC: Optimism abounds but a bumpy journey ahead for some
PwC’s ‘Capital Projects & infrastructure in East Africa, Southern Africa and West Africa,’ report says infrastructure spend in the region is projected to reach $180bn per annum by 2025.
BEST READ NEWS
IN DEPTHAfrica lags on digital migration
Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.