The Mastercard Foundation FAST Program 2026 has officially opened applications for eligible and qualified African entrepreneurs.
The initiative offers up to $15,000 in funding, alongside business development training and mentorship, to support alumni entrepreneurs in transitioning their ideas into sustainable ventures.
Program Summary
- Host: Mastercard Foundation
- Partners: CCHub Nigeria | MDF Global | Concree | Scale Up | Savannah Innovations Lab | Center for Enterprising Organizations | Inkomoko | African Leadership Academy
- Category: Competitions | Training
- Eligible Countries: African Countries
- Reward: $15,000 Grant | Access to Funding | Business Development Training | Mentorship
- No IELTS Required
- Deadline: March 20, 2026
Scholarship Details
The Mastercard Foundation, in collaboration with CCHub Nigeria, MDF Global, Concree, Scale Up, Savannah Innovations Lab, the Center for Enterprising Organizations, Inkomoko, and the African Leadership Academy (ALA), has launched the Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST) Program. This initiative is designed to strengthen and empower the next generation of African entrepreneurs by providing structured financial and technical support.
As one of the world’s largest charitable foundations, the Mastercard Foundation partners with visionary institutions to promote education and financial inclusion, enabling young people across Africa and Indigenous youth in Canada to secure meaningful and sustainable livelihoods.
The FAST Program specifically targets alumni from the Young African Leaders Initiative (YALI), African Leadership Academy (ALA), Anzisha Prize, and the Mastercard Foundation Scholars Program. It supports aspiring entrepreneurs and those at the early stages of building their businesses, offering them an opportunity to scale innovative ideas into viable enterprises.
Eligibility Criteria
To qualify for the Mastercard Fund for Alumni Startups in Transition (FAST) Program, applicants must:
- Own a business (proposed or already established)
- Operate a for-profit business (Not-for-profit organizations are not eligible)
- Be majority-owned by alumni of at least one of the following programs:
- Mastercard Foundation Scholars Program
- African Leadership Academy (ALA)
- Anzisha Prize
- Young African Leaders Initiative (YALI)
- Be located in one of the eligible African countries (refer to the official application form for the complete list)
Program Benefits
Successful participants in the Mastercard Foundation FAST Program will receive support in two structured phases:
- Idea Phase:
- Up to $5,000 to refine and validate early-stage business ideas
- Build Phase:
- $10,000 to $15,000 to develop and scale viable business models
Participants will also gain:
- Access to funding opportunities
- Business development training
- Mentorship from experienced professionals
- A strong network of fellow entrepreneurs and industry experts
Selection Procedure
- The FAST Program typically runs for 3 to 6 months, depending on the implementing partner.
- The duration may vary based on the development stage of your business (Idea or Build phase).
- Selected participants are expected to actively participate in all required program activities to successfully complete the program.
How to Apply
To apply for the 2026 Mastercard Foundation FAST Program:
- Visit the official application webpage
- Complete and submit your application before the deadline
- Await further communication regarding the selection process
Interested and qualified applicants should use the official link provided on the program webpage to submit their applications.
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