2013 Q2 Board Book (Staff)

The June 17-18th, 2013 Board Meeting, focused on expanding financial inclusion and economic opportunities for youth, primarily in Africa, while also strengthening its internal capacity and building thought leadership. The Foundation is focused on developing signature programs, strategic partnerships and learning.

Key activities and initiatives include:

1) Strategic Program Development: The Foundation continued to refine its strategies for financial inclusion and economic opportunities for youth, with key papers presented at the Q2 Board meeting. A Financial Inclusion Symposium is scheduled for July in Turin, Italy. The Foundation is also developing its Scholars Program.

2) Project Approvals: The Board approved several new projects, including those with African Universities, FAWE, Harambee, SNV, Catholic Relief Services and One Acre Fund. These projects reflect the Foundation's commitment to expanding access to education and financial services.

3) Scholars Program Expansion: The Foundation announced the addition of three Canadian universities (McGill, University of British Columbia, and University of Toronto) to the Scholars Program, committing $75 million to educate 270 African scholars. The first global convening of MasterCard Foundation Scholars was held in Arizona.

4) Financial Inclusion Initiatives: The Foundation is shifting its focus from microfinance to financial inclusion, reflecting a broader understanding of the needs of African youth. The Foundation is also working to scale financial inclusion in Africa and is investing in programs that offer financial services and livelihood skills to young people.

5) Economic Opportunities for Youth: The Foundation is developing a strategy to increase employment and entrepreneurship opportunities for young people in Africa, with a focus on key growth sectors. The Foundation has invested $193 million in 25 projects that benefit more than 500,000 young people in Africa.

6) Thought Leadership and Convening: The Foundation presented at three global forums in Q2 and held a roundtable discussion with the Governor General of Canada on education partnerships.

7) Evaluation and Learning: The Foundation is managing 13 midterm and two final project evaluations in 2013. A midterm review of the BRAC Uganda program was completed.

8) Internal Development: The Foundation is developing its staff, hiring a HR director, and interviewing for communications and learning director positions. The Foundation is also working to improve its systems and processes.

The Mastercard Foundation's activities in Q2 2013 demonstrate a commitment to strategic program development, innovative partnerships, and a focus on learning and impact, with a particular emphasis on expanding opportunities for youth and promoting financial inclusion in Africa.