Mastercard Foundation FAST Program 2026: Apply and get up to $15,000 Grant

The 2026 Mastercard Foundation FAST Program has officially launched, offering a powerful funding opportunity for African entrepreneurs looking to transform their ideas into scalable businesses. Through the Fund for Alumni Start-ups in Transition (FAST) initiative, the Mastercard Foundation will provide up to $15,000 in grant funding, alongside mentorship and business development training.

With applications now open and the deadline set for March 2026, eligible alumni entrepreneurs across Africa are encouraged to apply early.

What Is the Mastercard Foundation FAST Program?

The Mastercard Foundation FAST Program 2026 is designed to empower the next generation of African business leaders. It specifically targets alumni from selected leadership and entrepreneurship initiatives, helping them transition from early-stage ideas into sustainable, revenue-generating ventures.

The program is delivered in partnership with leading innovation and entrepreneurship hubs, including CcHub Nigeria and African Leadership Academy, among others.

As one of the largest foundations globally, the Mastercard Foundation focuses on advancing education and financial inclusion across Africa and Indigenous communities in Canada. Through FAST, it aims to accelerate youth entrepreneurship and job creation on the continent.

Who Is Eligible for the FAST Program 2026?

To qualify for the Mastercard Foundation Fund for Alumni Start-ups in Transition (FAST), applicants must meet the following criteria:

• Own a for-profit business (non-profits are not eligible)
• The business must be majority-owned by alumni of:
  • The Mastercard Foundation Scholars Program
  • African Leadership Academy
  • Young African Leaders Initiative (YALI)
  • Anzisha Prize
• Operate in an eligible African country (as specified in the application form)

Importantly, the program welcomes both aspiring entrepreneurs (Idea Phase) and early-stage founders (Build Phase).

READ ALSO

National Girls in ICT Competition 2026: Apply and win Scholarships, Laptops & Tech Prizes

Abbey Mortgage Bank Entry Level Program: Apply and Earn Salary, HMO & Full Banking Career Benefits

FAST Program Funding Structure: Up to $15,000 in Support

The Mastercard Foundation FAST Program 2026 provides support in two major stages:

Idea Phase – Up to $5,000

Entrepreneurs with innovative concepts can receive up to $5,000 to refine, validate, and develop their business ideas.

Build Phase – $10,000 to $15,000

More advanced startups can access between $10,000 and $15,000 to scale operations, strengthen business models, and accelerate market entry.

Beyond financial support, selected participants will gain:

• Access to expert mentorship
• Business development training
• Networking with other African founders
• Exposure to potential funding pathways

This comprehensive support structure ensures that beneficiaries receive not just funding, but also practical tools for sustainable growth.

Program Duration and Selection Process

The FAST Program typically runs between 3 to 6 months, depending on the implementing partner and the stage of the business.

Participants are required to fully engage in program activities, including training sessions and mentorship meetings, to successfully complete the initiative.

The selection process evaluates:

• Business viability
• Ownership eligibility
• Alignment with FAST objectives
• Growth potential

Only applications that meet the ownership and for-profit requirements will proceed to the final evaluation stage.

How to Apply for Mastercard Foundation FAST Program 2026

Interested and qualified applicants must submit their applications through the official FAST Program portal before the March 2026 deadline.

Application Steps:

1. Confirm alumni eligibility status
2. Ensure business qualifies as for-profit
3. Complete the online application form
4. Submit required documentation before the deadline

Early application is strongly advised due to expected high demand.

Why the FAST Program Matters for African Entrepreneurs

Youth unemployment and limited access to startup capital remain major challenges across Africa. The Mastercard Foundation FAST Program 2026 directly addresses these barriers by offering grant funding without repayment, structured mentorship, and ecosystem support.

By targeting alumni of leadership and entrepreneurship initiatives, the program ensures that funding reaches individuals who already demonstrate commitment, training, and leadership potential.

For many founders, this initiative could be the turning point between an idea and a fully operational enterprise.

FAQ – Mastercard Foundation FAST Program 2026

What is the Mastercard Foundation FAST Program 2026?

The FAST Program (Fund for Alumni Start-ups in Transition) is a grant and entrepreneurship support initiative by the Mastercard Foundation providing up to $15,000 to eligible African alumni entrepreneurs.

How much funding does the FAST Program offer?

The program provides:

• Up to $5,000 for Idea Phase businesses
• $10,000–$15,000 for Build Phase startups

Who can apply for the FAST Program?

Applicants must be alumni of:

• Mastercard Foundation Scholars Program
• African Leadership Academy
• Anzisha Prize
• Young African Leaders Initiative (YALI)

They must also own a majority stake in a for-profit business operating in an eligible African country.

Is IELTS required for the FAST Program?

No. IELTS is not required for this entrepreneurship grant program.

What is the deadline for the Mastercard Foundation FAST Program 2026?

Applications close in March 2026. Applicants are advised to apply early before the official deadline.

Is the FAST Program a loan or a grant?

The funding provided under the FAST Program is a grant, meaning recipients are not required to repay the funds.

How long does the FAST Program last?

The program typically runs between 3 to 6 months, depending on the implementing partner and business stage.

Can non-profit organizations apply?

No. Only for-profit businesses are eligible for funding under the FAST Program.