2010 Q2 Board Book (Staff)

The June 15, 2010, Board of Directors meeting focused on strategic initiatives, program approvals, and administrative matters. A key topic was the Foundation's reputation and positioning, with a presentation on initial findings from interviews with board members, staff, and external stakeholders. The goal was to define the Foundation's niche and identity, emphasizing its independence, significant assets, and focus on microfinance and youth education. The Foundation aims to be seen as innovative, collaborative, and transformative, with a focus on achieving systemic impact and scalable solutions.

The meeting included the review and approval of several programs, including a $11.9 million grant to the UN Capital Development Fund (UNCDF) to expand microfinance access for low-income youth in Sub-Saharan Africa. Another key program was a $10.1 million investment in CAMFED to scale secondary and financial literacy education for girls and young women in Ghana and Malawi. The board also reviewed a $5 million investment in Digital Opportunity Trust (DOT) to expand its ICT and entrepreneurship training programs in Kenya and Rwanda, as well as a $1.65 million investment in the African Leadership Academy to establish an Entrepreneurship Centre.

Administrative matters included the approval of the 2009 audited financial statements, the appointment of Pricewaterhouse Coopers as the auditor for 2010, and the approval of an internal process for selling MasterCard shares. The Board also formalized the election of Hutham Olayan to the Board. The Foundation's approach to disaster response was also reviewed, focusing on supporting long-term recovery efforts. The Board also received updates on current programs in microfinance and youth learning, including progress made by Opportunity International, Microfinance Opportunities, Making Cents, and the Aga Khan Foundation.