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Mastercard Foundation Unveils $500 Million African University Prize

The Mastercard Foundation has inaugurated the Africa Higher Education for Transformation Prize, pledging $500 million over the next decade to bolster institutions across the continent. Five universities from Ethiopia, Burkina Faso, Ghana, Uganda, and Rwanda are the first recipients, each securing $3 million to scale local research and employment initiatives.

Mastercard Foundation Unveils $500 Million African University Prize

Addis Ababa University, 2iE in Burkina Faso, Kwame Nkrumah University of Science and Technology, Muni University, and the University of Rwanda were selected for their distinct contributions to societal development. Foundation CEO Sewit Ahderom noted that these awards aim to catalyze economic opportunity by identifying institutions that effectively bridge the gap between academic research and market needs.

Each winning institution addresses specific national challenges. Addis Ababa University earned its award for integrating medical research with clinical care at Tikur Anbessa Specialized Hospital. In Burkina Faso, the International Institute for Water and Environmental Engineering demonstrated success in workforce integration, with 70% of its graduates finding employment within twelve months. Meanwhile, Ghana’s KNUST is being credited for transforming scientific output into commercial startups and tangible business solutions.

Support extends to social inclusion and public health as well. Muni University’s Refugee and Host Community Youth Empowerment and Transformation Initiative has successfully placed 70% of its participants in jobs within three months of training. Simultaneously, the University of Rwanda has scaled its impact by training over 26,000 health professionals and providing care to nearly 500,000 people. The foundation intends to recognize at least 150 institutions over the coming decade, with the inaugural cohort set to receive their formal awards in Accra on September 22, 2026.

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