Reeta Roy, the President and CEO of the Mastercard Foundation, has announced her decision to transition from her role after nearly 18 years of transformative leadership. Roy, who joined the Foundation in 2008, will continue to lead the organization through 2025 until a successor is appointed. Under her guidance, the Mastercard Foundation has grown into one of the largest and most impactful philanthropic organizations in the world, with a focus on empowering young people in Africa and Indigenous communities in Canada.
A Legacy of Impact and Innovation
Since its establishment in 2006 as an independent entity separate from Mastercard, the Foundation has committed over 10 billion to programs aimed at advancing education, financial inclusion, and economic opportunities for marginalized communities. With assets exceeding 10 billion to programs aimed at advancing education, financial inclusion, and economic opportunities for marginalized communities. With assets exceeding 50 billion, the Foundation has equipped more than 52 million young people with work-enabling skills, supported over 17 million entrepreneurs, and enabled 13 million young people to access meaningful employment.
Roy’s leadership has been marked by bold decisions and a commitment to local solutions. Early in her tenure, she made the unconventional choice to focus the Foundation’s efforts on Africa, inspired by the potential of the continent’s youth. This decision led to the creation of initiatives like the Mastercard Foundation Scholars Program, which has enabled over 40,000 young people, primarily from Africa, to complete higher education and transition into careers or entrepreneurship. Similarly, in Canada, Roy spearheaded the EleV Program, which supports Indigenous youth in accessing post-secondary education and meaningful livelihoods. To date, 38,000 Indigenous young people have benefited from this initiative.
Values-Driven Leadership
Roy’s approach has been deeply rooted in values such as humility, listening, co-creation, kindness, and respect. She prioritized the voices of young people, who are often excluded from education and financial systems, ensuring their perspectives shaped the Foundation’s programs. This values-based leadership has not only guided the Foundation’s operations but also fostered long-term partnerships with local organizations, particularly in Africa and Indigenous communities in Canada.
One of Roy’s most significant achievements was the launch of the Young Africa Works strategy in 2018. This ambitious initiative aims to enable 30 million young people, particularly young women, to access dignified and fulfilling work by 2030. To date, 13 million young people have secured employment through this program, with 53% being young women. Additionally, 67% of the implementing partners are African organizations, reflecting the Foundation’s commitment to local leadership.
Responding to Global Challenges
Roy’s leadership was also pivotal during the COVID-19 pandemic. In an unprecedented move, the Mastercard Foundation partnered with the Africa Centres for Disease Control and Prevention (Africa CDC) to launch the Saving Lives and Livelihoods initiative. This $1.5 billion program trained and deployed 40,000 health workers, increased adult vaccination rates from 3% to 53%, and is now funding the development of a skilled workforce for vaccine manufacturing in Africa.
Building for the Future
In 2024, Roy and the Foundation’s Board established the Mastercard Foundation Asset Management (MFAM) Corporation, a separate entity tasked with managing a diversified investment portfolio to support the Foundation’s mission over the long term. This initiative represents one of the largest greenfield investment start-ups of its kind and underscores Roy’s forward-thinking approach to ensuring the Foundation’s sustainability.
A Seamless Transition
As Roy prepares to step down, the Foundation’s Board of Directors, led by Chair Zein Abdalla, has committed to ensuring a smooth leadership transition. Abdalla praised Roy’s contributions, stating, “Reeta has been an outstanding CEO of the Mastercard Foundation. The results speak for themselves, but it is the strength of the partner network and the talented, values-based organization she has built that are her greatest gift to our future.”
The Board has appointed Heidrick and Struggles to lead the search for the next President and CEO. Abdalla emphasized the importance of finding a leader who aligns with the Foundation’s values and has global experience, particularly in Africa, to continue driving its mission forward.
A Lasting Legacy
Reeta Roy’s tenure at the Mastercard Foundation has been defined by bold vision, transformative leadership, and an unwavering commitment to empowering young people. Her legacy is one of creating opportunities for millions to shape their own destinies and redefine what is possible in their communities. As she transitions from her role, Roy leaves behind a Foundation poised to continue its mission of advancing education, financial inclusion, and economic opportunities for generations to come.
“Serving the mission of the Mastercard Foundation has been life-changing,” Roy reflected. “It has been an honor to build the Foundation and put it on a trajectory to be a force for good in the world. I am immensely grateful to my colleagues and our partners for the impact we have achieved together.”
As the Mastercard Foundation embarks on its next chapter, the world will undoubtedly watch as it continues to empower young people and communities to create a brighter, more inclusive future.