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Mastercard Foundation

From Wikipedia
De MasterCard Foundation
non-governmental organization
Year dem found am2006 Edit
Found byMastercard Edit
CountryCanada Edit
Legal formfoundation Edit
Demma headquarters locationToronto Edit
Dema official websitehttps://mastercardfdn.org/ Edit

De Mastercard Foundation be sam international non-governmental organization wey Mastercard establish for 2006 insyd.

De organization wey dey base for Toronto, Ontario, support work for 49 countries.[1] For 2018 insyd, Mastercard Foundation change say dem go focus for Africa top, through demma Young Africa Works strategy.[2]

De foundation dey develop programs wey mainly focus for reducing gender dneconomic inequality, expand access to quality education, increase opportunities for decent work, den support overall economic growth.[3][4] Dem dey manage de funding mainly plus bilateral allocations through post-secondary institutions, research institutes, non-governmental organizations, den de private sector, plus multilateral allocations through organizations like de plenty United Nations entities wey dey under de United Nations Sustainable Development Group.[3]

Creation[edit | edit source]

For May 2006 insyd, Mastercard Incorporated do demma initial public offering (IPO) wey value am about US$5.6 billion;[5] as part of de IPO, Mastercard Inc. donate 13.5 million shares, wey dem expect say ebe worth US$600 million (wey be US$906.8 million for 2023), give one newly independent charitable foundation wey dem create say dem go bell am Mastercard Foundation.[6]

De creation documents talk say de foundation no fi sell de Mastercard shares for 21 years, so Mastercard Incorporated commit say dem go give additional $40 million for direct cash donations give de foundation for de first four years; de foundation ein general charitable donations be fund from de dividends wey de 13.5 million shares go provide, wey dem no go fi use am till 2008.[6]

For de first two years of operation, as de dividends dey accumulate, de foundation dey run by one board wey Mastercard Inc. appoint, wey dem replace am plus independent board den leadership for 2008.[6] For 2008 inysd, dem hire Reeta Roy as de first independent president den CEO, wey go work plus de new independent board of directors so say dem go set de specific direction of de Mastercard Foundation.[7][8]

Mission[edit | edit source]

De Mastercard Foundation mission be say ego promote education den financial inclusion for developing countries insyd den say ego support Indigenous youth for Canada. Dem wan make world wey everybro go get opportunity learn den prosper.[9]

For de African Green Revolution Forum demma presidential summit for 2019 insyd, Mastercard Foundation CEO Reeta Roy talk say, “Wona goal be simple - (Our goal simple). Ebe say ego make de invisible visible. Ebe say ego enable menners wey be young create dignified work wer eno dey exist today”.[10]

Major funding partnerships[edit | edit source]

For 2008 insyd, de foundation launch partnership plus BRAC so say dem go expand financial services give about two million menners wey dey Uganda.[11]

For September 2012 insyd, dem announce de Mastercard Foundation Scholars Program for one United Nations special session, wey dey commit US$500 million towards de education of 15,000 African scholars give secondary, undergraduate, den masters levels. For example, de Duke University Scholars Program receive $13.5 million commitment from de foundation ein Scholars Program, among sam select group of institutions wey dey participate for de program since 2012.[12]

For 2013 insyd, de Mastercard Foundation host de first Symposium for Financial Inclusion (SoFI) top;[13] SoFI dey hold annually till 2017.[14]

For 2015 insyd, dem launch dr Mastercard Foundation Fund for Rural Prosperity (FRP).[15] Dem set am up as sam challenge fund, through wey de FRP dey fi find den support private sector businesses for Sub-Saharan Africa insyd wey go fi scale up innovative ideas wey go expand financial inclusion give smallholder farmers den rural areas.[16]

For 2017 insyd, de Mastercard Foundation launch de EleV Program, wey dey support Indigenous youth for Canada for demma journey through education den meaningful livelihoods. For 2019 insyd, dem expand am plus de goal say dem go support 30,000 Indigenous youth.[17] De EleV Program get two kinds of partnerships: EleV Anchor Collaborative Partnerships focus for creating sustainable systems change wey Indigenous communities den youth dey lead for partnership plus different stakeholders insyd wey dey include educators den employers; Catalytic den Learning Partnerships dey harness opportunities for learning den/anaa acceleration for economic sectors anaa program areas wey key give de EleV strategy. Dem dey enhance de work of wonna regional anchor partnerships den strengthen Indigenous den youth-led social infrastructure den organizations.

According to OECD, de Mastercard Foundation provide $298.3 million for development for 2019 insyd, all be grants wey dem deliver for dat year insyd.[3]

References[edit | edit source]

  1. ↑ Versi, Anver (2019-08-15). "Reeta Roy – president and CEO, Mastercard Foundation". New African. Retrieved 2020-01-21.
  2. ↑ "Young Africa Works | Mastercard Foundation Strategy: 2018-2030". Mastercard Foundation. Archived from the original on 2020-11-01. Retrieved 2020-11-19.
  3. ↑ 3.0 3.1 3.2 "Development Co-operation Profiles: Mastercard Foundation". OECD. Retrieved 2020-11-19.
  4. ↑ "Our Approach". Mastercard Foundation. Retrieved 2020-01-21.
  5. ↑ Wong, Grace (2006-05-18). "MasterCard IPO: Not so priceless". CNN Money. Archived from the original on 2018-06-29. Retrieved 2020-01-21. As part of its offering, the company plans to donate about 13.5 million newly issued shares to The MasterCard Foundation, a private charitable group.
  6. ↑ 6.0 6.1 6.2 Fleischer, Victor (University of Colorado Law School) (2006-12-02). "The Mastercard IPO: Protecting the Priceless Brand" (pdf). Harvard Negotiation Law Review. 2007. SSRN 888923 – via SSRN.
  7. ↑ "Honorary Doctorate Receipient: Reeta Roy". American University of Beirut. 2019. Archived from the original on 2019-05-09. Retrieved 2020-11-19.
  8. ↑ Muller, Jennifer (2019-05-31). "Graduate and honorary doctorate commencement 2019: Living meaningful lives" (Press release). American University of Beirut. Retrieved 2020-11-19.
  9. ↑ "Our Mission". Mastercard Foundation. Retrieved 2020-01-21.
  10. ↑ "Reeta Roy Remarks at AGRF 2019 Presidential Summit". Mastercard Foundation. 2019-09-04. Retrieved 2020-01-21.
  11. ↑ "BRAC and MasterCard Foundation Expand Microfinance Services in Uganda". BRAC. 2009-11-18. Archived from the original on 2020-11-20. Retrieved 2020-01-21.
  12. ↑ "About the Mastercard Foundation Scholars Program". Duke Office of University Scholars & Fellows. Archived from the original on 2020-06-17. Retrieved 2020-01-21. A world-class education at Duke University, supported by $13.5 million in funding from The Mastercard Foundation, fosters growth and development in a select group of students from Sub-Saharan Africa.
  13. ↑ Pierre-Charles (2013-07-19). "The First MasterCard Foundation Symposium on Financial Inclusion begins!". MicroWorld.org. Retrieved 2020-01-21.
  14. ↑ "Symposium on Financial Inclusion". Mastercard Foundation. Retrieved 2020-01-21. From 2013–2017, the Mastercard Foundation hosted an annual Symposium on Financial Inclusion (SoFI)
  15. ↑ "Rural and Agricultural Finance". Mastercard Foundation. Retrieved 2020-01-21.
  16. ↑ "Why Does the Mastercard Foundation Fund for Rural Prosperity Exist?". Mastercard Foundation Fund for Rural Prosperity. Archived from the original on 2020-10-19. Retrieved 2020-11-19.
  17. ↑ "EleV". Mastercard Foundation. Retrieved 2022-01-26.
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