Reeta Roy, the president and CEO of the Mastercard Foundation, has announced her decision to step down from her role. She will continue to lead the organization until 2025, ensuring a seamless transition while a successor is appointed.
Zein Abdalla, chair of the Foundation’s board of directors, emphasized the importance of this transition, 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. I look forward to working with Reeta to identify and onboard her successor and deliver another exceptional year for the Mastercard Foundation.”
Roy was brought on board to lead the Mastercard Foundation in 2008, just two years after it was founded in Canada as an independent entity separate from Mastercard. Under her leadership, the Foundation has expanded significantly, becoming one of the most prominent philanthropic organizations in the world. Managing assets exceeding $50 billion, the Foundation has allocated more than $10 billion toward initiatives in Africa and Indigenous communities in Canada, profoundly impacting the lives of millions of young people.
Reflecting on her tenure, Roy shared, “Serving the mission of the Mastercard Foundation has been life-changing. 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. Most of all, I am proud of our values and for walking this journey with young people, our African partners, and Indigenous communities in Canada.”
Roy’s personal background is deeply connected to her work in education and empowerment. She was born in Malaysia to an Indian father, Durgadas, a doctor, and a Chinese-Thai mother, Emily, who was a nurse. Following the passing of her father when she was 14, she was raised by her mother, who instilled in her a strong belief in education and self-sufficiency, particularly for young women.
Roy’s Vision for Africa
Early in her tenure, Roy made a pivotal decision to direct the Foundation’s resources toward Africa, believing in the vast potential of the continent’s youth. She fostered enduring partnerships with African business leaders, educators, and institutions, reinforcing the Foundation’s dedication to empowering young people through education and economic opportunities.
One of the most impactful initiatives launched under her leadership was the Mastercard Foundation Scholars Program in 2012. This program has facilitated higher education for more than 40,000 young Africans, helping them transition into successful careers. In 2018, the Foundation introduced the Young Africa Works strategy, with the ambitious goal of enabling 30 million young people to access meaningful employment by 2030. Today, 13 million young individuals have secured jobs through this initiative, with women making up 53 percent of the workforce supported by the program.
Commitment to Indigenous Communities
Beyond Africa, Roy also championed initiatives that addressed challenges faced by Indigenous communities in Canada. Following the 2015 report from Canada’s Truth and Reconciliation Commission, the Foundation established partnerships with Indigenous communities to enhance youth education and economic empowerment. This led to the creation of the EleV Program, which has supported 38,000 Indigenous young people in pursuing higher education and securing stable livelihoods.
Leadership During the COVID-19 Pandemic
Roy’s leadership proved crucial during the COVID-19 pandemic, particularly in addressing vaccine distribution challenges in Africa. She played a key role in a $1.5 billion collaboration between the Mastercard Foundation and the Africa Centres for Disease Control and Prevention (Africa CDC) to improve vaccine accessibility across the continent. This initiative resulted in the training and deployment of 40,000 healthcare workers, dramatically increasing adult vaccination rates from 3 percent to 53 percent.
Securing the Future of Philanthropy
In 2024, Roy and the Foundation’s Board took a significant step to ensure the long-term sustainability of its philanthropic mission by launching Mastercard Foundation Asset Management (MFAM). As an independent investment arm, MFAM was established to preserve and grow the Foundation’s resources, making it one of the most substantial greenfield investment ventures of its kind.
Roy’s departure marks the end of a transformative chapter for the Mastercard Foundation. Under her leadership, the organization has expanded its reach, creating lasting change in both Africa and Canada. While a successor has yet to be named, her legacy will continue to influence the Foundation’s work for years to come.