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Saturday, May 25, 2024

6 Ongoing Mastercard Foundation Scholarships (2024 UPDATE)

To fully capitalize on available opportunities, the Mastercard Foundation offers various platforms either independently or in collaboration with other foundations. This platform aims to assist ambitious students and graduates seeking lucrative employment opportunities.

The Mastercard Foundation, a Canadian non-governmental charity organization which ranks among the largest foundations worldwide. Through partnerships with innovative organizations, it empowers youth in Africa and Indigenous communities in Canada, providing them with access to dignified and meaningful employment opportunities.

The Mastercard Foundation has its headquarter at Toronto, Canada with other offices in Africa. Reeta Roy is the President and CEO of the private organization with $40 billion assets. The foundation has positively impacted over 50 million individuals and their households. In the future, the goal is to help 30 million young people secure meaningful employment by 2030.

Apply for the Ongoing Mastercard Foundation Scholarships:

1. Mastercard Scholarship at UP (University of Pretoria)

Since January 2014, the University of Pretoria (UP) has collaborated with the Mastercard Foundation to provide scholarships for accomplished African students at both undergraduate and postgraduate levels. Beginning in January 2024, the program will focus on economically disadvantaged African youth with disabilities, as well as internally displaced persons or refugees, who demonstrate academic excellence and leadership potential.

Essential elements of the program include community service and internships. Selected students receive full scholarships for postgraduate studies at UP and are expected to return to their home countries after graduation to contribute to their communities.


  • Program: Undergraduate and Postgraduate degrees
  • Location: University of Pretoria
  • Benefits: Fully funded, Accommodation, Meals, Laptop and living stipends
  • Eligibility: Africans
  • Deadline: September 30, 2024

APPLY: 2024 Mastercard Scholarship at UP (University of Pretoria) | Fully Funded

2. Mastercard Scholarship at Gondar University

A fully funded scholarship for African Students from Ethiopia, Somalia, Eritrea, Djibouti, and South Sudan. Sponsored by the Mastercard Foundation at Gondar University covering tuition, accommodation, living stipends, a laptop, flight expenses, and meals.

The Graduate Mastercard Foundation Scholars Program aims to develop scholars’ leadership and professional skills to influence global, regional, national, and local socioeconomic development.

Prospective applicants must provide transcripts from their school(s), letters of recommendation, proof of nationality, a resume detailing their academic and voluntary contributions, and a criminal record check letter by June 30, 2024.


  • Program: Master’s degree
  • Institution: Gondar University
  • Benefits: Fully funded, Accommodation, Stipends, Laptop, Flight expenses, and meals
  • Eligibility: Africans (Ethiopia, Somalia, Eritrea, Djibouti, and South Sudan)
  • Deadline: June 30, 2024

APPLY: Mastercard Scholarship at Gondar University 2024 | Step-by-Step Process

3. Mastercard Foundation Africa Growth Fund

The aim of the Mastercard Foundation Africa Growth Fund is to offer employment opportunities for young people especially women. The Fund attracts additional capital for African entrepreneurs, especially female entrepreneurs. It reinforces and reduces the risks of investment funds in Africa dedicated to promoting gender equality in entrepreneurship.

The program is a USD$200 million initiative known as a Fund of Funds. It collaborates with African investment funds to back early-stage, growth-oriented small and medium-sized enterprises (SMEs) across the continent.


  • Program: Entrepreneurship
  • Benefits: USD$200 million grants
  • Eligibility: Africans 

APPLY: 2024 Mastercard Foundation Africa Growth Fund | Step-by-Step Process

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4. Mastercard Foundation Scholarship at KNUST in Ghana

This fully funded undergraduate scholarship, supported by the Mastercard Foundation, is available at Kwame Nkrumah University of Science and Technology in Ghana. It is open to African students who demonstrate outstanding academic achievement and face financial constraints. The scholarship covers accommodation, stipends, and mentorship.

Candidates must possess a valid A level or WASSCE qualification, or equivalent, and should not be enrolled in any tertiary institution at the time of application. Additionally, they must meet the admission criteria of KNUST, with preference given to females, individuals with disabilities, and displaced persons.


  • Program: Undergraduate
  • Institution: Kwame Nkrumah University of Science and Technology, Ghana
  • Benefits: Fully funded
  • Eligibility: Africans

APPLY: 2024 Mastercard Foundation Scholarship at KNUST in Ghana | Fully Funded

5. Mastercard Agribusiness Fund

The program offers grants ranging from US$ 500,000 to US$ 2,500,000 to assist Small and Medium-sized Enterprises in the agriculture and digital economy sectors across 20 countries in Sub-Saharan Africa.

The Mastercard Foundation Agribusiness Fund assisted 38 participants from 15 African countries in developing and expanding financial products and services tailored for rural populations, particularly in agriculture. Notably, it enabled over 5.3 million individuals to access financial services, surpassing the initial target of 1 million.

Applicants interested in the program must finish the application procedure by November 22, 2024, and visit the website for details on the challenge and selection procedures.


  • Program: Entrepreneurship
  • Benefits: US$ 500,000 to US$ 2,500,000 grants
  • Eligibility: 20 selected Sub-Saharan African countries
  • Deadline: November 22, 2024

APPLY: Mastercard Agribusiness Fund 2024 | How To Apply

6. Wema Bank/ EDC Mastercard Transforming Nigerian Youth Program

This program seeks to establish a network of entrepreneurial and managerial leaders, particularly targeting youths and women in the Micro, Small, and Medium Enterprises (MSMEs) sector in Nigeria. It is introduced to Nigeria through a collaboration between Wema Bank, the Enterprise Development Centre at Pan-Atlantic University, and the Mastercard Foundation.

The scheme aims to foster entrepreneurial mindset among Nigerians between ages 18-35 with #500,000 fund, market access and support services to existing young entrepreneurs and innovative learning methods in Nigeria.


  • Program: Entrepreneurship
  • Location: Nigeria
  • Benefits: #500,000
  • Eligibility: Nigeria

APPLY: 2023 Wema Bank/ EDC Mastercard Transforming Nigerian Youth Program


The Mastercard Foundation Programs is far beyond scholarship opportunities only, it extends to internship placements, mentorship, leadership skills enhancements, tutoring, career services covering tuition and sustainability costs. These diverse opportunities could assist prospective Mastercard beneficiaries in leveraging or maximizing their potential for greater achievements.

Given the competitive nature of applications for the Mastercard Foundation scholarship, candidates must ensure their documents are not only comprehensive but also compelling to convince the scholarship committee. This includes demonstrating exceptional academic performance, robust leadership abilities, active involvement in voluntary services, research experience, publications and conference participation, as well as providing proof of citizenship and a clean criminal record.

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