Mastercard Foundation appoints new member to its board of directors

The Mastercard Foundation announced Tuesday the appointment of Jennifer Fonstad to its board of directors.

“I’m thrilled to welcome Jennifer to the Foundation,” says Jim Leech, chair, Mastercard Foundation board of directors.

“Technology continues to revolutionize the future of work around the world. Jennifer’s insight will be invaluable in our effort to achieve our goal of enabling 30 million young people in Africa to secure dignified and fulfilling employment.”

Fonstad, a serial entrepreneur and veteran venture investor, has more than two decades of experience in early stage technology. Most recently, Fonstad was co-founder and is currently managing partner at Aspect Ventures, a mobile-focused investment firm in Silicon Valley. Prior to this, she was a Managing Director at Draper Fisher Jurveston for 17 years.

The Mastercard Foundation recently launched its 2018-2030 strategy, Young Africa Works. The strategy unifies the foundation’s work around the challenge of youth unemployment in Africa. Using youth employment as a measure of success, the Foundation is working with governments and the private sector to reduce poverty through improving education and vocational training, connecting employers to job seekers, and expanding access to financial services for entrepreneurs and small businesses.

“I am delighted to join a Board that is committed to searching for new and innovative ways to empower young people, especially young women,” says Fonstad. “The Foundation has set an ambitious goal and I look forward to contributing to their success. There is a lot we can do to support the young entrepreneurs and future leaders in Africa.”