2017 Q1 Board Book (Staff)

The March 21-22nd, 2017 Board Meeting, demonstrated the Foundation's significant shift towards a more focused and integrated approach, with a strong emphasis on strategic planning, project approvals, and the launch of major new initiatives. This quarter also reflected the Foundation's commitment to addressing youth unemployment in Africa through a comprehensive strategy that spans education, skills development, and economic opportunities.

Key activities and initiatives during this quarter include:

1) Strategic Planning: The Foundation engaged in extensive consultations to develop a new strategy to advance employment for young people across Africa. This involved gathering feedback from young people, staff, board members, partners, and African opinion leaders to craft a vision of success focused on enabling young people from disadvantaged communities to secure decent work. The Foundation is also considering focusing its investments in specific African countries to achieve a more significant impact.

2) Project Approvals: The board approved two major initiatives in Rwanda, totaling $101.7 million, to support employment and enterprise development, as well as a secondary education teachers' initiative. Additionally, the board approved $18.5 million for an Indigenous youth education program in Canada. These projects reflect a commitment to supporting education and economic empowerment.

3) Rwanda Initiatives: The initiatives in Rwanda aim to increase productive employment for young people in the tourism and hospitality sector, as well as improve the quality of secondary education. This includes establishing a Foundation office in Rwanda to oversee implementation and ensure coordination with government and other stakeholders. The Foundation also intends to support small and medium-sized enterprises and improve access to financial services in Rwanda.

4) Indigenous Youth Education: A partnership with the Rideau Hall Foundation was approved to support Indigenous youth in completing their tertiary education and transitioning to employment. The program will provide comprehensive support including tuition, accommodation, and mentoring.

5) The Mastercard Foundation Scholars Program: The Foundation is looking to enhance its learning partnership for the Scholars Program. It is planning a longitudinal study of Scholars to demonstrate their impact on society, as well as shorter term research projects.

6) Financial Inclusion: The Foundation is continuing its work in financial inclusion by supporting projects that improve access to financial services and financial literacy, and promote client-centric practices, as well as through the Fund for Rural Prosperity. The Foundation has committed $2.5 million to the Rwanda Trading Company to support coffee farmers.

7) Youth Livelihoods: The Foundation is focusing on creating opportunities for youth employment and entrepreneurship, particularly within the agricultural sector. It is also working on identifying key sectors within specific countries that offer opportunities for youth employment and entrepreneurship.

Overall, the Mastercard Foundation’s activities in the first quarter of 2017 demonstrate a clear focus on strategic planning and integrated initiatives, with a renewed commitment to addressing youth employment and empowerment through education, financial inclusion, and skills development, with a more concentrated approach in specific countries. The Foundation is also strengthening its internal operations and learning processes to support its strategic goals.