2018 Q3 Board Book (Staff)

The September 13-14th, 2018 Board Meeting, focused on consolidating the Foundation's strategic direction and operational capabilities, while actively implementing its "Young Africa Works" strategy, with a particular emphasis on youth employment, education, and financial inclusion across Africa. This quarter is characterized by detailed project updates, a commitment to learning and evaluation, and a push to establish a robust presence in key African countries.

Key activities and initiatives include:

1) Strategic Frameworks and Country Strategies: The Foundation sought board approval for strategic frameworks in Ghana, Senegal and Kenya. These frameworks are built on the premise that 3 million young people in Ghana will have access to dignified work through job creation in ICT and high-value agribusiness. The labour market in Ghana is largely informal, with 90% of the workforce employed in the informal sector, and entrepreneurship is strong. In Senegal, ICT-related job opportunities are expected to reach 216,000 by 2025. Kenya has a strong track record of digital innovation with a network of tech hubs. The foundation also updated the board on its country strategies for Ethiopia, Nigeria and Uganda, mapping the private sectors and technical training systems in those countries.

2) Program Performance and Expansion: The Foundation is actively monitoring the performance of its various programs, including the Scholars Program, which has reached over 32,000 students. This program aims to develop a cohort of next-generation leaders by enabling students to complete their education and encouraging them to be active contributors to their communities. There is a strong focus on supporting scholars as they transition to employment and entrepreneurship. The Foundation is also supporting projects that provide training and upskilling in sectors like tourism and hospitality.

3) Financial Inclusion and Livelihoods: The Foundation is supporting initiatives that aim to enable smallholder farmers to access financial services. There is also a focus on using digital financial services to reach low-income clients, with training provided to financial service providers. A key finding in the financial inclusion space is that smallholder farmers are a relatively young market, with more than 70% of them being below the age of 44.

4) Learning and Evaluation: The Foundation is placing an increasing emphasis on learning and evaluation, with several projects focused on assessing the impact of its interventions. There is a move towards measuring systemic changes and indirect impacts, and a recognition of the need to integrate job creation into program and policy design. The Foundation is also seeking to determine how to best support youth transitions from education to employment. The Foundation is also working to measure the effectiveness of online and blended learning programs.

5) Partnerships and Collaborations: The Foundation is working to cultivate relationships with organizations across the public and private sectors, as well as with other foundations. A key principle of the Foundation is to maximize job creation with tailored financial return expectations and without distorting markets.

6) Operational Development: The Foundation is in the process of establishing a more robust operational presence in Africa, focusing on legal and tax registrations, and setting up branch offices.

Overall, the Mastercard Foundation's activities in the third quarter of 2018 demonstrate a strategic and operational deepening of its efforts to drive youth employment and economic development across Africa. The Foundation is focused on leveraging its programs, partnerships, and resources to create large-scale, sustainable impact in line with its "Young Africa Works" strategy.