2013 Q3 Board Book (Staff)

The September 19-20th, 2013 Board Meeting focused on the Foundation's strategic focus on scaling successful programs, fostering partnerships, and establishing thought leadership, particularly in the areas of financial inclusion and youth learning in Africa. The Foundation is dedicated to creating opportunities for disadvantaged youth through access to education, financial services, and economic empowerment.

Key activities and initiatives include:

1) Scholars Program Expansion: The Foundation continued to invest in the MasterCard Foundation Scholars Program, which aims to enable disadvantaged students to complete their education. The program is on track to support 120 scholars at EARTH University in Costa Rica. The program is focused on gender parity with 50% female scholars and with 40 scholars from Africa, and 80 from Latin America. The Foundation is working with EARTH to address challenges such as language training for African students and the cost of health care.

2) Financial Inclusion Initiatives: The Foundation continued to promote financial inclusion, with a focus on youth. The Foundation co-hosted a symposium on Financial Inclusion in Turin, Italy, focused on putting "Clients at the Center". The Foundation also launched a $12.7 million partnership with FINCA to expand financial services in Malawi, Tanzania, and Zambia. Additionally, the Foundation's Agrifinance initiative coordinates stakeholders in the agricultural value chain.

3) Youth Employment and Learning: The Foundation prioritized youth employment and workforce development, recognizing the need to sustain economic growth in Africa. The Foundation is also building a network of universities and secondary schools to prepare young people for the workforce.

4) Strategic Convenings and Partnerships: The Foundation hosted a Global Convening of Scholars Program partners to discuss monitoring, evaluation, and learning. The Foundation also co-chaired a meeting with university presidents and global foundations, promoting civic leadership in higher education. Partnerships with African institutions, such as Camfed, BRAC, Ashesi, and Makerere University were also developed.

5) Knowledge Sharing and Thought Leadership: The Foundation published an article in the Stanford Social Innovation Review highlighting its partnership with BRAC. It is also developing Foundation-branded publications and commissioning surveys to generate data for policy makers. The Foundation aims to differentiate its programs, catalyze innovation, and develop thought leadership in its areas of focus.

6) Internal Development: The Foundation is reviewing its risk management framework, and is also assessing its internal capacity, and structure.

The Foundation's activities in the third quarter of 2013 reflect its 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. The Foundation is increasing its efforts in knowledge sharing and thought leadership as it grows its impact.