2016 Q1 Board Book (Staff)

The March 15-16th, 2016 Board Meeting focused on the Foundation's program development, strategic decision-making, and initiative expansion, while continuing its work in financial inclusion, education, and youth livelihoods. This period saw significant efforts to streamline internal processes, approve new projects, and expand the reach of existing programs across Sub-Saharan Africa, with a focus on rural and agricultural finance, as well as the Scholars Program.

Key activities and initiatives during this quarter include:

1) Program Development and Management: The Foundation undertook a review of its program development and management processes, aiming to delegate less risky decisions to the CEO, streamline decision-making documents, and approve projects more quickly. The goal is to increase strategic engagement, speed up impact, and enhance program quality. A pilot program is underway to stratify partners based on risk, systemize market and business intelligence gathering, and implement a new knowledge management strategy.

2) Project Approvals and Updates: The Board approved several projects across its key focus areas, including new and renewal funding for universities such as Arizona State University, Carnegie Mellon University in Rwanda, and the University of Edinburgh. Projects in financial inclusion include the KCB Group, KIVA Microfunds, and Root Capital. Youth Livelihoods projects include the CAP Youth Empowerment Institute, Child & Youth Finance International, and Swisscontact. Additionally, pipeline projects such as the Education Development Center in Senegal and the Regional Universities Forum for Capacity Building in Agriculture (RUFORUM) were also considered.

3) Initiative Expansion: The Foundation is increasingly programming by initiative, with eight key initiatives, including the Scholars Program, Innovations in Secondary Education, Scaling Access to Savings, Next-Generation Mobile Financial Services, Rural and Agricultural Finance, Youth Employability and Entrepreneurship, Teacher Education, and the Rwanda Initiative. The Rural and Agricultural Finance initiative aims to increase access to financial services for smallholder farmers in Africa. The Scholars Program represents almost half of the Foundation's current portfolio, with plans for growth in this area as well as in Rural and Agricultural Finance.

4) Rural and Agricultural Finance: This initiative focuses on increasing access to financial services for smallholder farmers in Africa. The Foundation is innovating in product design, leveraging technology, and offering technical support to improve farming methods and financial capability. Key partners in this area include KCB Group, Kiva Microfunds, and Root Capital. The Mastercard Foundation Fund for Rural Prosperity launched its second Innovation Competition in February, and a Scaling Competition in 2015 led to the selection of multiple projects.

5) The Scholars Program: The Foundation approved projects for Arizona State University, Carnegie Mellon University – Rwanda, and University of Edinburgh. These programs aim to provide comprehensive scholarships, support services, and leadership development for scholars. The Scholars program also aims to strengthen institutional capacity at partner universities.

Overall, the Mastercard Foundation's activities in the first quarter of 2016 demonstrate a commitment to its mission through strategic program development, significant project approvals, and a focus on scaling programs and initiatives. The Foundation is focused on enhancing access to education, promoting financial inclusion, and creating economic opportunities, with a particular emphasis on agriculture, rural areas, and youth in Africa.