The Mandela Rhodes Foundation was launched in February 2002 during the centenary celebrations of the Rhodes Foundation.

The Mandela/Rhodes partnership affirms the commitment to the reconciliation of different, and at times opposed, historical traditions, which is central to the philosophy and practice of the new South Africa. The linking of Nelson Mandela and Cecil Rhodes in symbolic partnership affirms once more that commitment to the reconciliation of different historical traditions.

The Mandela Rhodes Foundation aims to give expression to the legacies of leadership, education, reconciliation and entrepreneurship. Along similar lines, it has indicated its willingness to support the Thabo Mbeki Leadership Scholarships.

The Thabo Mbeki Leadership Scholarships will be made available to young and talented graduands from any country in Africa, allowing them to pursue postgraduate study at the University of Cape Town. UCT and the Mandela Rhodes Foundation will identify and select outstanding young Africans who have shown exceptional leadership potential and commitment to the African continent and its development.

It is envisaged that the Thabo Mbeki Leadership Scholars will over time form a vital leadership cadre in southern Africa, and more broadly on the African continent, through the bringing together of Nelson Mandela's legacy of leadership, the exceptional educational tradition of excellence embodied by the Rhodes Scholarships and Thabo Mbeki's renewed vision of African development and prosperity.