The MasterCard Foundation Scholars Program (MCFSP) is one of the most ambitious philanthropic efforts focused on Africa’s youth. Launched in 2012, the program provides fully funded undergraduate and graduate scholarships, leadership development, and community engagement opportunities for high-potential young people across Africa. If you dream of gaining a world-class education while receiving mentorship, internships, and travel support — this program could transform your future.
About the MasterCard Foundation
The MasterCard Foundation, established in 2006 and headquartered in Toronto, Canada, originally focused on financial inclusion. Over time it evolved toward youth-centered programming, recognizing that education and leadership development are critical levers to reduce poverty and increase prosperity across African nations. The foundation’s flagship initiative, the MasterCard Foundation Scholars Program, works with leading universities and local partners to deliver fully funded scholarships and holistic support.
Vision and Mission
The foundation’s core mission is to enable young people—especially young women and vulnerable groups—to find dignified pathways into the economy. MCFSP targets academically strong but economically disadvantaged students and equips them with the skills, networks, and resources to become ethical, community-minded leaders.
MasterCard Foundation Scholars Program Overview
MCFSP is not just financial aid. It is a comprehensive model that combines:
- Full scholarship coverage (tuition, accommodation, living stipend)
- Leadership training and professional development
- Mentorship and peer support networks
- Internships, community engagement projects, and entrepreneurship support
Partner institutions run their own selection processes within the foundation’s guidelines. In practical terms, you must both gain admission to a partner university and meet the MCFSP selection criteria.
Partner Institutions
MCFSP partners with universities across Africa, North America and Europe. Examples include:
- Ashesi University (Ghana)
- University of Cape Town (South Africa)
- Kwame Nkrumah University of Science & Technology (Ghana)
- University of Toronto (Canada)
- McGill University (Canada)
- Sciences Po (France)
- Arizona State University (USA)
Each partner university usually advertises its MCFSP application process on its own website. Check the university’s scholarships or financial aid pages for partner-specific deadlines and forms.
Scholarship Coverage and Benefits
A major attraction of the program is that it is fully funded for the duration of the degree. Typical benefits include:
- Tuition and fees: Full coverage of tuition, registration, and program-specific fees.
- Living expenses: Housing, meals, and monthly stipends to cover daily costs.
- Travel: Round-trip airfare to the host institution and in-country travel for internships or projects.
- Study materials: Laptops, textbooks, and learning resources.
- Health insurance: University-sponsored medical coverage during the study period.
- Leadership development: Bootcamps, workshops, mentorship and entrepreneurship grants.
Beyond money, MCFSP invests in your leadership: coaching, exposure to industry leaders, and alumni networks that help amplify your impact post-graduation.
Eligibility Criteria
Eligibility varies slightly by partner institution, but common requirements are:
- African citizenship or strong ties to Africa: Applicants should be nationals or residents of African countries.
- Financial need: Clear evidence that the applicant cannot afford the degree without substantial help.
- Strong academic profile: Competitive grades, standardized test scores if required (SAT, ACT, GRE, etc.), and strong teacher references.
- Leadership potential and community commitment: Documented examples of volunteer work, social initiatives or entrepreneurship.
- Admission to partner university: You must meet the academic admission standards of the host institution.
MCFSP particularly encourages applications from underrepresented groups: young women, refugees, and students from historically marginalized regions.
Application Process
The application process has several steps and can begin as early as a year before your intended start date. Typical timeline:
1. Research Partner Institutions
Identify universities that offer MCFSP seats in your chosen field. Compare program strengths, campus culture, and the application timeline.
2. Apply for University Admission
Submit your academic application through the university portal or centralized systems (such as OUAC in Ontario). Indicate your interest in the MasterCard Foundation Scholars Program where required.
3. Complete Scholarship Materials
Most partners request supplemental scholarship materials: a personal statement focused on leadership and community impact, proof of financial circumstances, and references that speak to your character and service.
4. Interviews and Shortlisting
Shortlisted applicants may be interviewed by the university or foundation panel. Prepare to speak clearly about your leadership examples, impact, and future goals for Africa.
5. Acceptance and Pre-Arrival Support
If selected, the university and MCFSP team guide you through visa processing, travel logistics, and orientation. Many partners provide pre-departure training on academic expectations and cultural adjustment.
Documents You Will Need
- Academic transcripts and certificates
- Proof of African nationality (passport)
- Standardized test results (if required)
- Personal statement or essays
- Letters of recommendation
- Proof of financial circumstances (if requested)
How to Strengthen Your Application
MCFSP seeks leaders with heart and impact. To increase your chances:
- Demonstrate measurable impact: Use numbers when possible (e.g., “tutored 50 students,” “raised $2,000 for a community project”).
- Show continuity: Long-term involvement in a project or cause is more powerful than many short activities.
- Find strong referees: Teachers or community leaders who can attest to your leadership and integrity.
- Connect your academics to community goals: Explain how your chosen field will solve a real problem in your community or country.
- Prepare for interviews: Practice storytelling: be concise, honest, and mission-focused.
Life as a MasterCard Foundation Scholar
Scholars benefit from holistic support:
- Academic tutoring and advising to help meet program challenges.
- Leadership bootcamps and entrepreneurship workshops to build skills.
- Peer networks that create lifelong professional connections across Africa and the world.
- Internship placements that connect learning to practice.
Many scholars describe their cohort as an extended family — providing emotional and professional support through the rigors of study abroad.
Post-Graduation Pathways
MCFSP emphasizes return or sustained engagement with the continent. Common post-graduation routes include:
- Launching social enterprises that address local gaps in health, education, finance, or agriculture.
- Joining NGOs or public institutions to influence development policy and practice.
- Pursuing advanced degrees to deepen technical expertise or research capacity.
- Joining private sector firms to scale innovations and create jobs.
The MCF alumni network offers mentorship, networking events, and potential seed funding for promising ventures.
Success Stories and Impact
Since 2012, thousands of scholars have graduated across diverse fields—medicine, engineering, economics, public policy, and entrepreneurship. Many alumni run impactful projects such as:
- Digital platforms that expand financial inclusion for smallholder farmers
- Health campaigns that increase vaccination and maternal care in rural regions
- Education startups that deliver remote learning in low-connectivity areas
These alumni stories demonstrate the catalytic effect of combining education, leadership training, and targeted funding.
Challenges and Things to Consider
The program is life-changing but demanding. Expect:
- High competition: Selection is rigorous—prepare early and apply to multiple partner institutions.
- Cultural adjustment: Studying abroad includes adapting to new academic norms, climates, and social settings.
- Re-entry realities: Returning home after study may require creative approaches to funding or market-readiness for projects.
Frequently Asked Questions (FAQs)
Is the MasterCard Foundation Scholars Program fully funded?
Yes — at most partner institutions MCFSP offers fully funded scholarships covering tuition, living costs, travel, and leadership development. Coverage specifics can vary by partner.
Can graduate students apply?
Yes. MCFSP supports both undergraduates and some graduate pathways depending on the partner institution.
Do I have to return to my home country after graduation?
The foundation strongly encourages scholars to contribute to African development. While policies differ by partner, many scholars return home, take up jobs, or launch ventures that benefit their communities.
How do I find partner-specific deadlines?
Visit the partner university’s official website and search for “MasterCard Foundation Scholars” or “MCFSP” to find application deadlines and partner-specific requirements.
Action Steps: How to Get Started
- Map your interests: Identify the field you want to study and list partner universities with strong programs in that area.
- Build your leadership portfolio: Document civic projects, volunteer work, or small enterprises with measurable outcomes.
- Prepare documents early: Gather transcripts, referee contacts, and write a compelling personal statement focused on community impact.
- Engage mentors: Teachers, NGO leaders, or community elders who can advise and write strong reference letters.
- Monitor deadlines: Apply to multiple partners to maximize your chances.
Conclusion
The MasterCard Foundation Scholars Program is a powerful pathway for talented, socially-minded African youth to access transformative education and leadership development. The program’s combination of financial support, mentorship, and alumni networks equips graduates to create real change across the continent. If you’re committed to community impact, start preparing now — your leadership journey could begin with MCFSP.