Mastercard Foundation Taps Seasoned Kenyan Business Executive Carole Wamuyu Wainaina for Board of Directors

Mastercard Foundation has appointed Kenyan business executive, Carole Wamuyu Wainana to its Board of Directors. Carole joins Mastercard Foundation on the back of a tremendous 35-year career as a business leader in Africa, Europe and the USA.

She joins a board that includes Zein Abdalla, the retired president of PepsiCo, Ellen Johnson Sirleaf, former president of Liberia and 2011 Noble Peace Prize winner, Louise Arbour, CC, the former Justice of the Supreme Court of Canada and Jay Ireland, the retired president and CEO of General Electric Africa among others.

“I am delighted to welcome Carole Wainaina to our Board of Directors. The Mastercard Foundation is executing a bold strategy to create economic opportunities for young people in Africa and Indigenous youth in Canada. Carole’s experience in the public and private sectors, global networks, and knowledge of the African continent will be invaluable,” said Zein Abdalla, Chair of the Board of Directors of the Mastercard Foundation.

After attaining a Bachelor of Business Administration from the University of Southern Queensland in Australia, Carole began her career at PricewaterhouseCoopers in 1989 before serving as Chief of Staff to Dr Richard Leakey for three years. Dr Richard Leakey was the son of famous paleoanthropologists Louis and Mary Leakey who made groundbreaking discoveries at Olduvai Gorge. He followed in their footsteps to uncover hundreds of hominin fossils in Kenya, including the “Turkana Boy” skeleton, while also serving as a conservationist and political figure.

However, Carole is better known for her time at The Coca-Cola Company, where she spent 13 years working in various positions across the globe, including Group Human Resources Director for Europe, Group HR Director for Eurasia & Africa covering 90 countries in Istanbul, Turkey, Chief of Staff to the Chairman and CEO in Atalanta, Georgia, President of The Coca-Cola Africa Foundation, and HR Director for the Africa Group spanning 54 countries and the Northern Africa Division covering 32 countries, based in London and Nairobi.

After leaving Coca-Cola, she worked at Philips, a Dutch multinational conglomerate corporation founded in 1891 for two years then as the Assistant Secretary-General for Human Resources at the United Nations, leading transformational initiatives for the Secretary-General and member states.

For the last seven years, Carole has been working with Africa50, an infrastructure investment platform that was founded in 2012 by the African Development Bank (AfDB) and African states to help bridge Africa’s infrastructure funding gap, first as the Chief Operating Officer for seven years starting in 2017 and then also doubling as a Senior Advisor to the CEO starting in 2020.

She also serves as a non-executive director on the boards of several prominent companies, including the Equatorial Coca-Cola Bottling Company, Helios Towers, and Olam Food Ingredients UK.

“I am honoured to join the Mastercard Foundation’s Board of Directors. I look forward to working with a dynamic team advancing education and financial inclusion to create opportunities for young people, build stronger communities, and contribute to more inclusive economies. This important work benefits all of us, and I am pleased to contribute to the Foundation’s impact in Africa and Canada,” said Carole Wainaina.

The Mastercard Foundation is a registered Canadian charity and one of the largest foundations in the world. Established in 2006 through the generosity of Mastercard when it became a public company, the Foundation is an independent organization separate from the company, with offices across Africa and Canada. The Foundation works with visionary organizations to advance education and financial inclusion, to enable young people in Africa and Indigenous youth in Canada to access dignified and fulfilling work.

The Foundation’s programs in Africa reflect its commitment to creating opportunities for youth. The Mastercard Foundation Scholars Program develops Africa’s next generation of leaders by providing talented students whose financial resources are limited the chance to complete their education. The Young Africa Works initiative partners with governments and the private sector to understand economic priorities and identify growth sectors, working towards systems-level change to drive youth employment.

Guided by its Board of Directors and leadership, the Mastercard Foundation’s policies, operations, and program decisions are designed to create a world where everyone has the opportunity to learn and prosper. Through its diverse initiatives and collaborative approach, the Foundation is making significant strides in advancing education, financial inclusion, and dignified work for young people across Africa and Canada.