2014 Q3 Board Book (Staff)

The September 18-19th, 2014 Board Meeting focused on the Foundation's scaling of successful programs, deepening its impact, and solidifying its role as a thought leader in financial inclusion and youth development in Africa and other developing regions.

Key activities and initiatives during this period include:

1) Financial Inclusion: The Foundation advanced its financial inclusion program by providing financial products and training to more than 3.9 million individuals, indirectly impacting another 15.6 million people. The MasterCard Foundation Symposium on Financial Inclusion in Turin, Italy, fostered collaboration among stakeholders. The Foundation also continued to explore mobile financial services and savings groups as effective ways to reach underserved populations. Additionally, the Foundation is working to expand access to financial services for smallholder farmers.

2) Youth Learning: The Foundation expanded its Youth Learning Program, focusing on access to secondary and tertiary education and transitions to employment. The Scholars Program was further developed, with a second annual Scholars Convening held at the University of British Columbia. The Foundation also supported four Regional Leadership Centers for the Young African Leaders Initiative (YALI).

3) Economic Opportunities for Youth: The Foundation continued to explore market-driven training programs. A review highlighted the need for greater private sector engagement in youth employment. The Foundation is also supporting initiatives to provide digital skills and employment to young people.

4) Strategic Partnerships: The Foundation strengthened its partnerships with various organizations, including CGAP, GSMA, Opportunity International, and Save the Children. It also increased its engagement with African organizations, aiming to increase the percentage of African partners from 14 to 30 percent by 2017.

5) Knowledge Sharing and Thought Leadership: The Foundation disseminated knowledge through various channels, including publications and reports, such as "Change that Matters: Learning from our Partnerships". The Foundation also participated in global events like the World Economic Forum and the United Nations General Assembly.

6) Program Development: The Foundation is conducting research initiatives to understand client needs and developing new channels to reach target audiences. The Foundation is also measuring progress by strengthening the capacity of partner institutions and influencing sectors and systems in-country.

7) Commitment to Innovation: The Foundation is allocating 10-15 percent of its annual commitments to funding new ideas and models. It also sought to promote client-centricity by recognizing innovation in that area.

8) Financial Commitments: The Foundation is projecting $1.1 billion in commitments between 2015-2017 and $840 million to be disbursed in the same period.

Overall, the Mastercard Foundation's activities in the third quarter of 2014 demonstrate a commitment to its strategic goals through program expansion, innovative partnerships, and a strong focus on learning and impact. The Foundation is working to enhance opportunities for youth, promote financial inclusion, and influence policy and practice in developing countries.