Mastercard Foundation Appoints New Member to its Board of Directors

Toronto, Ontario, June 26, 2018 – Today, the Mastercard Foundation announced the appointment of Jennifer Fonstad to its Board of Directors.

“I’m thrilled to welcome Jennifer to the Foundation,” says Jim Leech, Chair, Mastercard Foundation Board of Directors. “Technology continues to revolutionize the future of work around the world. Jennifer’s insight will be invaluable in our effort to achieve our goal of enabling 30 million young people in Africa to secure dignified and fulfilling employment.”

Fonstad, a serial entrepreneur and veteran venture investor, has more than two decades of experience in early stage technology. Most recently, Fonstad was Co-Founder and is currently Managing Partner at Aspect Ventures, a mobile-focused investment firm in Silicon Valley. Prior to this, she was a Managing Director at Draper Fisher Jurveston for 17 years.

The Mastercard Foundation recently launched its 2018-2030 strategy, Young Africa Works. The strategy unifies the Foundation’s work around the challenge of youth unemployment in Africa. Using youth employment as a measure of success, the Foundation is working with governments and the private sector to reduce poverty through improving education and vocational training, connecting employers to job seekers, and expanding access to financial services for entrepreneurs and small businesses.

“I am delighted to join a Board that is committed to searching for new and innovative ways to empower young people, especially young women,” says Fonstad. “The Foundation has set an ambitious goal and I look forward to contributing to their success. There is a lot we can do to support the young entrepreneurs and future leaders in Africa.”

The Mastercard Foundation Board of Directors currently includes:

Jim Leech, CM, is Chancellor of Queen’s University, Senior Advisor with McKinsey and Company, and Special Advisory to the Prime Minister of Canada on the Canada Infrastructure Bank. He was formerly President and Chief Executive Officer of the Ontario Teachers’ Pension Plan
Zein Abdalla, former President of PepsiCo, Inc.
Valerie Amos, CH, Director of SOAS, University of London
Doug Baillie, former Chief Human Resources Officer of Unilever
Craig Calhoun, Professor of Social Sciences, Arizona State University
Jendayi Frazer, Managing Partner, African Exchange Holdings Company and President of 50 Ventures, LLC
Jay Ireland, President and CEO, GE Africa
Festus Mogae, former President of the Republic of Botswana
Hutham Olayan, Principal, Director, and senior executive of The Olayan Group

About the Mastercard Foundation

The Mastercard Foundation seeks a world where everyone has the opportunity to learn and prosper. The Foundation’s work is guided by its mission to advance learning and promote financial inclusion for people living in poverty. One of the largest foundations in the world, it works almost exclusively in Africa. It was created in 2006 by Mastercard International and operates independently under the governance of its own Board of Directors. The Foundation is based in Toronto, Canada. For more information and to sign up for updates from the Foundation, please visit www.mastercardfdn.org. Follow the Foundation @MastercardFdn on Twitter.