The MasterCard Foundation, with a $360 million purse, is expanding its long-standing partnerships with the Campaign for Female Education (CAMFED) and the Forum for African Women Educationalists (FAWE) to support over 70,400 young women and girls who face significant financial and social barriers to education.

Ultimately, the Foundation stated that these efforts are likely to impact 3.3 million young women and men.

With a $360 million commitment over the next seven years, the MasterCard Foundation will support young women in their educational, entrepreneurial, and career paths.

The Foundation stated that the investment in CAMFED over the next six years will help 62,000 females in Tanzania, Zambia, Zimbabwe, Ghana, and Malawi move into secondary and tertiary education, employment, and entrepreneurship, while also working to strengthen education systems for millions of young people.

In the case of the extended seven-year FAWE-MasterCard Foundation partnership, the organisation said this will improve access to tertiary education, post-secondary technical vocational and educational training (TVET), and job opportunities for over 10,500 young people, primarily in Uganda, Rwanda, Zambia, Ethiopia, Malawi, Ghana, Liberia, Tanzania, Zimbabwe, and Senegal.

The initiative, according to the Foundation, provides bursaries for individuals who start new businesses or innovate inside existing ones.

MasterCard Foundation said the expanded partnership will increase the number of post-secondary school programs supported by FAWE to over 500 accredited tertiary institutions in Africa, benefiting an estimated 1.2 million young women.

Tina Muparadzi, executive director of education and transitions at the Mastercard Foundation, commented: “Currently contributing just 11 percent of Africa’s GDP, the continent’s young women have huge potential to drive its economic transition. We believe this partnership will be pivotal in establishing the inclusive and equitable environment required to fully unlock this opportunity, enabling the most vulnerable and underserved girls in society to thrive.”

According to the parties, this partnership builds on the Mastercard Foundation and CAMFED's more than a decade of collaboration to increase access to secondary and higher education for over 35,000 young women facing the most severe financial and social challenges.

It has also provided opportunity for another 35,000 young women to find dignified and fulfilling work, the Foundation said.

Angeline Murimirwa, CEO, CAMFED, said: " This investment supercharges our ambitious vision for 2030 as we support millions more girls in rural Africa to thrive in secondary school, graduate into secure livelihoods and leadership, and in turn, mentor and support the next generation, multiplying partner investment. 

"With the commitment of every member of our global movement, we can transform education systems and economies across Africa, driving progress towards the Sustainable Development Goals.”

For Martha Muhwezi, executive director of FAWE Africa, this collaboration reaffirms her organisation’s shared vision with the Foundation’s Young African Works strategy and the Africa Union strategy for employment of the youth.

She said: “We are particularly thrilled to see this program expand from three countries to 10, a clear testament of its impact and potential. 

"We are confident, with support from partners such as the Foundation; we will scale to reach all our 34 chapters across Africa. 

"Education, skills development, and leadership will remain our priority to prepare the current generation to lead, innovate, and drive positive change across the continent.”