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

Airtel beneficiary wins best practices award

Food for All Ghana Campaign, a food wastage and food recovery project by Chefs for Change Ghana Foundation in partnership with SAVE FOOD, (an FAO Global Initiative for the reduction of food loss and wastage) has been recognized with an award for “Best Practices” by the Government of Dubai.  Read More

Airtel funded biogas plant wins regional award

Airtel has received regional recognition for the CSR Initiative of the year nearly a year after the company commissioned the Immanuel Afrika’s (I-Afrika) biogas project in Kikuyu, Kenya. Read More

Fairscape Precinct recognised for excellence, innovation and technology

Botswana Development Corporation’s headquarters, Fairscape Precinct, has been awarded two Fulton Awards by the Concrete Society of South Africa.  Read More

Dimabi School renovated By Tigo Shelter 4 Education project

Tigo Ghana has presented its fourth school block to the management of Dimabi Nursery and Primary School in Tolon Kumbumgu of the Northern Region.  Read More

Tigo Rwanda and Reach for Change launch the Changemakers Hub

Tigo Rwanda and Reach for Change have launched the Changemakers Hub. This hub, located at the Tigo Headquarters in Muhima, will provide office space and resources for applicants and current Digital Changemakers. Read More

Airtel employees mentor Kinder Paradise Home students

Airtel Ghana, has organized a motivational mentorship seminar for students of the Kinder Paradise Home at Prampram near Accra. Read More

Obeng Yaw L/A School benefits from Tigo’s Shelter 4 Education project

Obeng Yaw, a community in the Upper West Akyem district of the Eastern region is the latest to benefit from Tigo’s Shelter for Education project.  Read More

Vodafone supports deployment of SnooCode for Ghana Ambulance Service

Ghana National Ambulance Service teams across the length and breadth of the country will now find it easy tracking the location of victims during emergencies using SnooCode’s “CodeRed” mobile application. Read More

MTN Foundation supports health campaigns in Cameroon

The MTN Foundation in Cameroon has handed a considerable stock of medication and medical equipment to ASCOVIME to improve medical treatment provided to rural communities.  Read More

Kumasi set to host Tigo Yensor Nkoaa Grand finale.

After 90 days of giving away generators, power banks, rechargeable lamps and power invertors, the Tigo “Yensor Nkoaa “ promo is inching closer to the grand finale. Read More

PRESS OFFICES

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

FEATURED STORY

Young innovators shine during pitch sessionsYoung innovators shine during pitch sessions

Botswana saw an array of upcoming tech wizards selling their ideas during the Vendors’ Day pitch sessions this week.

IN DEPTH

High tech homes: Just press playHigh tech homes: Just press play

High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.