The Mastercard Foundation works with visionary organizations to enable young people in Africa and Indigenous youth in Canada to access dignified, meaningful, and fulfilling work.
Soilless Farms Labs is building a new model for Nigerian agriculture
Soilless Farm Lab started with the thesis that farming works better without soil, leading to the establishment of 800 greenhouses across 36 hectares. The company employs over 100 people, with 70% under the age of 35, and has trained 13,000 young Nigerians in hydroponic and aeroponic agriculture.
Mastercard Foundation picks Sewit Ahderom as new CEO, beginning January 2026
Sewit Ahderom has been appointed as the next President and CEO of the Mastercard Foundation, effective January 1, 2026. Outgoing CEO Reeta Roy will assist Ahderom during the transition in 2025.
Condia Insider: Mastercard Giveth, 54 Collective…?
54 Collective is facing liquidation after allegedly misusing over $42 million from a Mastercard Foundation grant. The group rerouted $4.59 million to its for-profit counterpart Founders Factory Africa without permission.
“Mastercard Foundation’s agreement was not terminated due to a breach,” Bongani Sithole, 54 Collective’s CEO
54 Collective, an early-stage venture studio, shut down in February 2025, laying off over 40 employees. Mastercard Foundation withdrew funding due to concerns over 54 Collective's rebranding and potential conflicts of interest.
African venture firm, 54 Collective, forced into liquidation over misused grant
The South African High Court provisionally liquidated 54 Collective following allegations of serious financial misconduct. The Mastercard Foundation disbursed over $42 million to the firm, which was initially registered as Africa Founders Ventures NPC.
