Launched in 2012, the Mastercard Foundation Scholars Program began as a $500 million initiative to develop the next generation of leaders who would drive social and economic transformation. The Program has supported nearly 40,000 young people and by 2030 will double its reach to 100,000 young people, primarily in Africa.

The Mastercard Foundation Scholars Program identifies talented young people from economically disadvantaged and hard-to-reach communities, primarily in Africa, and supports their secondary and higher education as well as leadership development. Initially, the Program aimed to support 15,000 young people. Over the last decade, the Mastercard Foundation has deployed $1.7 billion through the initiative to benefit nearly 40,000 young people, over 72 percent of whom are young women. To date, 18,544 young people have graduated from secondary and higher education.