The MasterCard Foundation Names President Festus G. Mogae of Botswana to its Board of Directors

President Mogae's career is distinguished by achievements that advanced economic and social progress in Sub-Saharan Africa

TORONTO, Dec. 14, 2010 /PRNewswire-USNewswire/ -- The MasterCard Foundation announced today the appointment of President Festus G. Mogae of Botswana to its Board of Directors. President Mogae's career is distinguished by achievements that advanced economic and social progress in Sub-Saharan Africa, where the Foundation focuses many of its efforts. His experience implementing health and education reforms, growing his country's economy and later serving as an international thought leader on health and climate change issues, make him a dynamic addition to the Board.

"President Mogae's work to fight poverty, HIV/AIDS and unemployment is celebrated throughout Africa," said Lois Juliber, Chair of The MasterCard Foundation Board and retired Vice-Chair and COO of Colgate-Palmolive Company. "His expertise, coupled with regional insights and relationships, will help us scale up microfinance and education programs that prepare young people to compete in the global market."

President Mogae led the Republic of Botswana from 1998 to 2008. In 2009 President Mogae accepted the position of Special Envoy of the United Nations Secretary-General on Climate Change, a role that culminated with his participation in the UN Climate Change Conference in Copenhagen. President Mogae spent the past year as the African President-in-Residence at Boston University's African Presidential Archives and Research Center. Prior to his election in 1998, President Mogae served as Vice President, Minister of Finance and Development Planning, and Permanent Secretary to the President. He previously was the Alternate Governor for Botswana at The International Monetary Fund, The World Bank and The African Development Bank.

"I am delighted to join the board of The MasterCard Foundation, particularly given its belief that young people in the developing world can break the cycle of poverty with access to education, skill building and financial services," said President Mogae. "I have long shared a similar confidence in Botswana and its people."

President Mogae received a number of prestigious awards at the conclusion of his presidency. He was awarded the Grand Cross of the Legion d'honneur by French President Nicolas Sarkozy for making Botswana a model of democracy and good governance. President Mogae also won the Ibrahim Prize for Achievement in African Leadership. His public recognition of and programming on HIV/AIDS earned him commendation from United Nations Secretary-General Kofi Annan. In April 2010, in recognition of his exceptional talent, energy, and commitment to international understanding, President Mogae was named a Trustee of the Rhodes Trust. President Mogae holds a bachelor of arts from Oxford University and a master of arts in development economics from the University of Sussex.

The MasterCard Foundation believes that people have the potential to transform their lives and to improve the lives of their families and their communities. By increasing access to microfinance and youth education to people in developing countries, the Foundation is enabling them to realize their potential and lift themselves out of poverty. It is an independent, private foundation based in Toronto, Canada and was established through the generosity of MasterCard Worldwide at the time of the company's initial public offering in 2006. For more information, see www.mastercardfdn.org.

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, Chancellor and professor of city planning at Massachusetts Institute of Technology
• Hutham Olayan, Principal and Director of The Olayan Group
• Paul Ostergard, former Chairman and Chief Executive Officer of the Citigroup Foundation
• Marguerite Robinson, former professor, author, independent consultant on microfinance
• Festus Mogae, former President of the Republic of Botswana

SOURCE MasterCard Foundation

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