Africa: Mastercard Foundation Commits $500 Million to Transform Higher Education

What the report says

AllAfrica reported on 30 July 2026 that the Mastercard Foundation plans to commit US$500 million over the next decade to support transformation in African higher education. In an interview with AllAfrica’s Melody Chironda, Dr. John Nkengasong, the foundation’s Executive Director for Higher Education, Collaboratives and Strategic Initiatives, said universities are central to building the skills, research capacity, innovation and leadership needed for economic change across the continent.

The commitment comes as the report notes that international development funding for Africa is tightening while pressure is growing to create work for a large youth population. Nkengasong linked the higher education push to the foundation’s Young Africa Works strategy, which aims to help 30 million young people access dignified and fulfilling work by 2030. He said the Africa Higher Education for Transformation, or AHEFT, Prize is intended to strengthen universities as catalysts for talent development and inclusive growth.

According to the interview, the prize is not designed as a ranking system. Applications were assessed on factors including institution-wide impact, alignment with African development needs, community engagement, inclusion, student experience and collaboration. Nkengasong said the focus is on change embedded across teaching, research, entrepreneurship and pathways into employment, rather than excellence in only one department.

The report said winning institutions will receive more than financial awards, including programmatic support, opportunities to collaborate and visibility through the foundation’s network of more than 200 African higher education institutions. AllAfrica also reported that an inaugural Higher Education for Transformation Convening is scheduled for 22 September in Accra, and that the foundation has referred to supporting at least 150 institutions over ten years.