MICROCAPITAL BRIEF: Apply by June 5 for The MasterCard Foundation’s $150k “Clients at the Centre” Prize

The MasterCard Foundation, which is based in Canada, is accepting applications through June 5 for its 2017 “Clients at the Centre” Prize, which includes a cash award of USD 150,000. The prize is awarded annually to a financial services company operating in low- and middle-income countries that demonstrates a commitment to its customers through programs deemed “inclusive” and “client-centric.”

A panel selected by The MasterCard Foundation will nominate three finalists, and the winner will be selected by the audience of financial inclusion industry professionals at The MasterCard Foundation’s Symposium on Financial Inclusion in Accra, Ghana on November 8 and November 9, 2017. Institutions such as commercial banks, microfinance institutions, insurance providers and technology companies are eligible to apply for the prize.

The goal of The MasterCard Foundation is to enable people living in poverty to improve their lives with increased access to financial services and education, primarily in Africa. The foundation was established in 2006 by a gift of shares from US-based payment processor MasterCard Worldwide during that company’s initial public offering. As of 2015, The MasterCard Foundation reported approximately USD 9 billion in assets.

By Christian Chartier, Research Associate

Sources and Additional Resources:

[1] “The MasterCard Foundation Launches 2017 Clients at the Centre Prize”, MicrofinanceGateway.org. http://www.microfinancegateway.org/announcement/mastercard-foundation-launches-2017-clients-centre-prize

[2] “The MasterCard Foundation Clients at the Centre Prize”, The MasterCard Foundation. https://mastercardfdn.innocentive.com/page.php?page=termsandconditions

MicroCapital coverage of The MasterCard Foundation, January 19, 2017

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