2017 Q3 Board Book (Staff)

The September 14-15th, 2017 Board Meeting, focused on finalizing the Foundation's new strategy to address youth employment in Africa, while continuing to expand its key programs in education, financial inclusion, and youth livelihoods. This period is marked by significant progress in strategic planning, the launch of new initiatives, and efforts to enhance program effectiveness and impact through knowledge sharing and thought leadership.

Key activities and initiatives during this quarter include:

1) Strategic Planning: The Foundation finalized its new strategy focused on youth employment in Africa, identifying key areas such as micro-, small and medium-sized enterprise finance and education finance within country strategies. The Foundation also developed indicators to measure success and set high-level targets.

2) Program Development and Expansion: The Foundation continued to expand its programs in education, with new programs established with 47 partners in 24 countries, committing over $1 billion. The Scholars Program, representing 45% of the Foundation’s portfolio, has seen an increase in scholarships, enrolment, and graduates. Two major initiatives in Rwanda were launched, focusing on employment and enterprise development and secondary education.

3) Financial Inclusion: The Foundation is working to build the capacity of financial service providers by training staff, with the Mastercard Foundation Financial Inclusion Scholars Program having trained 2,603 staff worldwide. The Foundation is also exploring ways to promote low-balance savings and digital financial services.

4) Youth Livelihoods: The Foundation is supporting impact studies on training and development programs for young people. The Foundation recognizes that young people are most active in entrepreneurship start-up efforts and are more likely to employ younger people in high-growth sectors.

5) Thought Leadership and Convenings: The Foundation held two successful Baobab Summits in South Africa and Ghana, as well as planning for a Symposium on Financial Inclusion in Ghana. The CEO and senior staff spoke at various global forums, and an op-ed by Kim Kerr was published in top-tier African publications. The Foundation is developing a learning framework and research agenda focused on the future of work in Africa, and plans to issue a biennial report on the subject.

6) Internal Improvements: The Foundation staff completed their move to Rwanda, and interviews were underway for three Rwanda-based positions.

Overall, the Mastercard Foundation's activities in the third quarter of 2017 demonstrate a commitment to a strategic and focused approach, with a clear emphasis on addressing youth unemployment in Africa through education, financial inclusion, and skills development. The Foundation is working to enhance its programs and partnerships, and to increase its impact through thought leadership and knowledge sharing. The Foundation is also focusing on ensuring that the Scholars Program has a lasting positive impact, and that graduates are equipped to be leaders and contribute to economic growth in their communities.