The MasterCard Foundation has announced the launch of The MasterCard Foundation Scholars Program, a $500 million education initiative that will provide talented but financially disadvantaged students in developing countries - particularly in Africa - with strong support for secondary and university education.
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.
To enable this, The MasterCard Foundation is building a global network of education institutions and non-profit organisations committed to its vision to educate young people in Africa who will contribute to the growth of their continent. Ashesi has been selected as one of nine world-class pioneer institutions partnering with The MasterCard Foundation to help develop the potential of Africa's talented yet economically challenged youth.
The network also includes: American University of Beirut – Faculty of Health Sciences, Arizona State University, Duke University, EARTH University, Michigan State University, Stanford University, University of California – Berkeley, and Wellesley 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.
"I am excited to welcome our first Scholars this academic year, as we continue to strengthen our commitment to educating African leaders of exceptional integrity and professional ability," said Patrick Awuah, President of Ashesi. "It is a real honor, and a great responsibility, for Ashesi to be part of The MasterCard Foundation's $500 Million Scholars Program. I encourage the Scholars to take advantage of the unique learning opportunity that Ashesi has to offer, which will enable them adapt and innovate appropriately in our dynamic world."
The goal of The MasterCard Foundation Scholars Program is to achieve positive social transformation in Africa. More than 15,000 people participating in the program across the continent will be prepared and empowered to lead, driving economic growth and social transformation.