Tapping into Africa’s Refugees: Economic Opportunity Hiding In Plain Sight 

By Reeta Roy, President and CEO, Mastercard Foundation

I recently visited Kakuma, one of Kenya’s largest refugee settlements in preparation for the Africa Forum on Displacement conference.  It was a welcome return. The first time I went there, I visited a bustling wholesale store.  I can still see the owner, Mesfin Getahun, moving confidently among towering stacks of bulk goods, directing his staff of over 40 people, both refugees and Kenyans. 

Twenty-four years ago, Mesfin arrived in Kakuma as a refugee with nothing. He worked tirelessly and saved every shilling, started a bakery and eventually opened a small shop. Today, his wholesale business supports dozens of refugee-run enterprises throughout the settlement, and his philanthropy supports churches, mosques, orphans’ education, and hospital bills for those in need.

Across Africa, through our work, I’ve witnessed many examples of success stories like Mesfin’s that ripple through both refugee and host communities, creating opportunity where many see only crisis. At Okapi Green Ltd in Kakuma, young refugees train in solar system installation, powering the camp while building marketable skills. In Rwanda’s Mahama camp, refugee-led cooperatives supply vegetables to markets throughout the eastern province. These dynamic individuals, who have been displaced, have refused to be defined by their displacement.  They have demonstrated remarkable resilience, tenacity to rebuild their lives, and contribute to their communities.  

Today, Africa hosts 45 million forcibly displaced people—over a third of the global total. They represent Africa’s unrealized economic opportunity.

That’s why the Mastercard Foundation is committing $300 million to expand a partnership with the United Nations High Commissioner for Refugees (UNHCR). Over five years, this initiative will enable over half a million refugees and displaced youth across Africa to complete their education and support 200,000 young people—70% of them women—to transition into dignified work.

Through our Young Africa Works strategy—which aims to get 30 million young Africans in dignified and fulfilling work by 2030– we are scaling high-impact partnerships that enable young people to access the necessary education and skills needed to get a job or build their own businesses. This new commitment to UNHCR  is a continuation of that approach. 

Central to this shift is the recognition that those most affected – refugees and displaced people — must lead the solutions.  That’s why we are strengthening 100 local and refugee-led organizations to co-implement programs and influence policy, ensuring interventions are grounded in their lived experience.

At a time when global humanitarian and development aid are under immense pressure, we must reimagine fresh approaches, which build long-term education and economic pathways that benefit everyone.

For host governments managing complex refugee situations, this approach transforms settlements from isolated “waiting rooms” into dynamic economic centers where refugees contribute as consumers, entrepreneurs, and job creators. For local economies, it means expanded markets and productive workforces. 

The progress we seek requires an “all in” approach.  Host governments must create enabling policy environments recognizing refugees’ right to work, movement, and credential validation. Development funders should pivot toward long-term investments in education and economic inclusion that deliver higher returns and sustainable outcomes. 

The private sector has the most transformative role—not through charity but through meaningful economic inclusion. When businesses integrate refugees into workforces and supply chains, they access untapped markets and talent pools. For philanthropists, the opportunity is to co-invest in scaling proven approaches. 

Our commitment will go further when others join us.   

What’s at stake isn’t just refugee wellbeing—it’s Africa’s economic future. Refugees like Mesfin are already demonstrating what’s possible, strengthening communities, economies, and the continent itself.  When we invest in their future, everyone benefits.

 About our Partnership with UNHCR

We at Mastercard Foundation are redoubling our investment in what works.  Since 2019, our partnership with UNHCR has demonstrated remarkable results.  A recent investment in Sudan helped 30,000 young people return to secondary education and enabled 68,000 youth—62% women—to access work opportunities in just six months. 

UNHCR’s unique position—with operations across the continent and decades of expertise—allows us to scale these proven approaches beyond individual countries to address displacement’s cross-border nature.