The MasterCard Foundation Fund for Rural Prosperity aims to improve the lives of 1,000,000 people living in poverty by enabling businesses to begin or expand financial services in rural areas of Sub-Saharan Africa.
If you are an organization with a proven innovative financial product, service or delivery platform which is capable of increasing financial access for people living in poverty in Africa, then you can apply for support in
the Scaling Competition today.
The Foundation thanks all organizations that submitted applications in the recent Innovation Competition 2015. Entries are being reviewed, and organizations selected to receive support from the Fund for Rural Prosperity will be announced in early October.
The Scaling Competition is open from 20 July 2015 to 30 September 2015.
Once existing ideas have been proven, businesses can apply for financial support to scale financial products, services or processes in order to benefit more people currently living in poverty in rural Africa.
The MasterCard Foundation Fund for Rural Prosperity is a US$50 million challenge fund to extend financial services to people living in poverty. Read More
Why The Fund?
Sub-Saharan Africa is growing rapidly but the pattern of growth has increased inequality and not led to substantial poverty reduction. Read More
How will The Fund help?
The Fund will ensure 1,000,000 people in rural Africa have access to appropriate savings, credit and insurance services. Read More
Transforming Lives by Supporting Financial Innovation
The majority of rural households in Sub-Saharan Africa remain financially excluded. Over 70 percent of these families derive a large portion of their income from agricultural activities. Many financial service providers lack the knowledge and capacity to develop appropriate products and services that would enable the rural poor and smallholder farmers to become financially included.