The MasterCard Foundation

The MasterCard Foundation

December 12, 2013 08:00 ET

News Release: Dr. Jendayi E. Frazer Joins the Board of The MasterCard Foundation

TORONTO, ONTARIO--(Marketwired - Dec. 12, 2013) - The MasterCard Foundation announced today the appointment of Dr. Jendayi E. Frazer to its Board of Directors.

Dr. Frazer is an accomplished policy leader and academic with an extensive understanding of issues facing Sub-Saharan Africa. She currently serves as Director of the Center for International Policy and Innovation and Distinguished Public Service Professor at Carnegie Mellon University. Previously, she held several positions in the U.S. government including the Assistant Secretary of State for African Affairs, U.S. Ambassador to South Africa, Special Assistant to the President for African Affairs at the National Security Council, and Director of African Affairs at the National Security Council.

"Dr. Frazer's in-depth knowledge of Sub-Saharan Africa combined with her personal commitment to the continent's development makes her a valuable addition to the Foundation's Board of Directors," said Lois Juliber, Chair of the Board of The MasterCard Foundation.

During her tenure in government, U.S. assistance to Africa quadrupled reaching an historic high of $6.7 billion by 2008. Dr. Frazer was instrumental in establishing some of the U.S. government's signature initiatives including the President's Emergency Plan for AIDS Relief (PEPFAR), the African Education Initiative, as well as the Millennium Challenge Account.

Dr. Frazer is an Adjunct Senior Fellow for Africa Studies at the Council on Foreign Relations, the Founder, President, and CEO for 50 Ventures, LLC, and Managing Partner of Africa Exchange Holdings Company (AFEX). She also has worked with the Mo Ibrahim Leadership Fellows Program.

"I am both honoured and excited to join The MasterCard Foundation's Board of Directors," said Dr. Frazer. "The Foundation's programs provide access to education and finance to empower Africans to improve their lives and build Africa's prosperity. I look forward to contributing to this important work."

Dr. Frazer studied at Stanford University where she earned a PhD in Political Science, two Master's Degrees and a Bachelor's Degree. She was also presented with the Secretary's Distinguished Service Medal, the highest honour bestowed by the Secretary of State in recognition of her public service.

About The MasterCard Foundation

The MasterCard Foundation is an independent, global organization based in Toronto, Canada, with more than $9 billion in assets. Through collaboration with partner organizations in 46 countries, it is creating opportunities for all people to learn and prosper. The Foundation's programs promote financial inclusion and advance youth learning, mostly in Africa. Established in 2006 through the generosity of MasterCard Worldwide when it became a public company, the Foundation is a separate and independent entity. The policies, operations, and funding decisions of the Foundation are determined by its own Board of Directors and President and CEO. To learn more about The MasterCard Foundation, please visit

The members of The MasterCard Foundation Board of Directors are:

  • Lois Juliber, Chair, retired Vice-Chair and Chief Operating Officer of Colgate-Palmolive Company
  • Phillip Clay, former Chancellor and Professor of City Planning at Massachusetts Institute of Technology
  • Jendayi Frazer, Distinguished Public Service Professor and Director of the Center for International Policy and Innovation at Carnegie Mellon University
  • James Leech, President and Chief Executive Officer of the Ontario Teachers' Pension Plan
  • Festus Mogae, former President of the Republic of Botswana
  • Don Morrison, former Chief Operating Officer of Research in Motion
  • Hutham Olayan, Principal and Director of The Olayan Group
  • Paul Ostergard, former Chairman and Chief Executive Officer of Citigroup Foundation
  • Marguerite Robinson, former Professor, author, and independent consultant on microfinance
  • Theodore Solso, retired Chairman and Chief Executive Officer of Cummins Inc.

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