2013 Q4 Board Book (Staff)

The December 11-12th, 2013 Board Meeting, focused on the expansion of Foundation programs, strengthening partnerships, and enhancing its thought leadership, particularly in the areas of financial inclusion and youth economic opportunities in Africa. The Foundation is committed to creating pathways for disadvantaged youth to access education, financial services, and employment.

Key activities and initiatives in the fourth quarter include:

1) Program Expansion: The Foundation expanded its Scholars Program, adding new university and secondary partners. The Foundation also focused on scaling successful models like the TechnoServe STRYDE program, which showed significant increases in participants' incomes and savings. Additionally, the Foundation is developing new initiatives, such as the Economic Opportunities for Youth program, with a focus on rural youth and agricultural employment.

2) Financial Inclusion: The Foundation continued to promote financial inclusion through partnerships with organizations such as Opportunity International. The Foundation is also exploring innovative mobile banking solutions for rural populations. A key area of focus is the development of agricultural finance to support smallholder farmers.

3) Project Approvals: The Board approved new projects including the University of Cape Town and EARTH University for the Scholars Program, Child and Youth Finance International, and Opportunity International for financial inclusion programs. These initiatives are designed to reach a wide range of beneficiaries including children, youth and smallholder farmers.

4) Knowledge Sharing and Thought Leadership: The Foundation actively engaged in knowledge sharing by publishing reports and articles including "Future Forward: Innovations for Youth Employment in Africa" and "Mobiles for Youth Workforce Development". The Foundation also participated in global conferences and convenings, demonstrating its commitment to thought leadership.

5) Strategic Convenings: The Foundation hosted events such as the Annual Partner Appreciation Dinner and meetings, the Foundation Youth Think Tank Convening, and the Annual "Learn, Earn, and Save" Convening.

6) Internal Development: The Foundation has increased its staffing and is focused on developing its people, as well as its capacity to deliver on its mission. This includes hiring new staff and establishing an HR function to support organizational growth.

7) Financial Performance: The Foundation exceeded its financial goals by committing $174 million and disbursing $147 million. The Foundation's total assets grew to $9.2 billion, with cumulative commitments reaching $1.077 billion. The Foundation is focused on effectively managing its disbursements and investments.

8) Program Evaluation: The Foundation is emphasizing monitoring and evaluation of its programs and is working to improve data collection and analysis for its Scholars Program. The Foundation has conducted midterm reviews of several projects to assess progress, identify challenges, and promote continuous learning.

The Foundation's activities in the fourth quarter of 2013 demonstrate a strong commitment to strategic program development, innovative partnerships, and a focus on learning and impact with an emphasis on expanding opportunities for youth and promoting financial inclusion in Africa.