2017 Q4 Board Book (Staff)

The December 7-8th, 2017 Board Meeting focused on the Foundation's strong push towards implementing its new "Young Africa Works" strategy, alongside continued efforts to enhance existing programs and build thought leadership in the field of youth employment in Africa. This period is characterized by strategic planning, project approvals, and a focus on creating sustainable impact through education, skills development and financial inclusion.

Key activities and initiatives during this period include:

1) Strategic Implementation: The Foundation finalized and began implementing its "Young Africa Works" strategy for 2018-2030, with the goal of enabling 30 million young Africans, particularly women, to have dignified and fulfilling work. This strategy involves a country-focused approach, with plans to develop programs in six countries by 2020, and to focus on integrated strategies to address mismatches in labour markets.

2) Program Expansion: The Foundation has continued to expand key programs, including the Scholars Program, which is focusing on tertiary education in African universities, particularly at the undergraduate level. The Foundation is also working to support Scholars' transitions to employment and to strengthen the transformative leadership component of the program. In addition, there are new initiatives in Rwanda focused on employment, enterprise development and teacher training.

3) Financial Inclusion: The Foundation is exploring alternative investment options and development capital (e.g., equity, debt, guarantees) to support MSMEs (Micro, Small, and Medium Enterprises) in Africa. It recognizes that MSMEs are the primary source of increased jobs in Africa, and are constrained by lack of access to finance, weak operations, and lack of access to markets.

4) Innovation and Technology: There is an emphasis on leveraging technology to create employment opportunities and improve access to financial services. This includes a new Innovation Fund that supports staff-led projects that explore new ideas and technologies. The Foundation is also exploring the role of digital technology and automation in shaping the future of work.

5) Knowledge and Thought Leadership: The Foundation is actively sharing knowledge and building thought leadership through events like the Young Africa Works Summit, and through research and publications. There is also an emphasis on supporting African researchers and evaluators, and on learning about the impact of digitization and automation on labour markets. The Foundation aims to position itself as a leading voice on youth employment in Africa.

6) Partnerships and Collaborations: The Foundation is prioritizing partnerships with African organizations, with a goal of 75% of its partners being African organizations by 2030. The Foundation is working closely with government and private sector partners to develop country-specific strategies.

7) Internal Development: The Foundation is focusing on building its internal capacity to effectively implement its new strategy, including new organizational structures, hiring staff, and developing its presence in Africa. The Foundation is also investing in its culture and values, emphasizing ethical leadership, humility, and collaboration.

Overall, the Mastercard Foundation's activities in the fourth quarter of 2017 represent a strategic shift towards a more focused, country-based approach aimed at achieving large-scale impact in youth employment in Africa. The Foundation is working to ensure that young people, particularly young women, have the skills, education, and financial tools they need to achieve dignified and fulfilling work, while also actively contributing to the thought leadership in this field.