2018 Q4 Board Book (Staff)

The December 18-19th, 2018 Board Meeting, focused on implementing the Foundation's "Young Africa Works" strategy, with a strong emphasis on youth employment, education, and financial inclusion across the African continent. This period is marked by the approval of country-specific programs, a focus on research and learning, and the expansion of key initiatives.

Key activities and initiatives include:

1) Country Program Approvals: The Board approved five-year budgets totaling $700 million for programs in Ghana, Senegal, and Kenya. These programs aim to enable 11 million young people to access dignified and fulfilling work by 2030, with a focus on young women. The strategies for each country focus on strengthening entrepreneurship and small businesses, linking youth to labour markets, and improving education and training. The programs also aim to align with each country’s national development plans.

2) Research and Evaluation: The Foundation is developing a new research approach to build its own independent point of view, and has requested $70 million to support Foundation-led research and evaluation activities for the next five years. This includes country learning and measurement plans, research partnerships, and a focus on understanding "dignified and fulfilling work" from the perspective of young people. The Foundation is also aiming to support young African researchers.

3) Digital Economy: The Foundation is exploring opportunities to spur and scale innovation in the digital economy, with a focus on accelerating regional innovation and strengthening digital economy leadership among African policymakers. This involves addressing digital skills gaps and supporting the development of national digital strategies.

4) Scholars Program Expansion: The Foundation is expanding the Mastercard Foundation Scholars Program with an initial envelope of $250M, aiming to enroll and graduate an additional 15,000 young people in tertiary education by 2030. The program will focus on transformative leadership and supporting scholars’ transitions to economic opportunities. There is also consideration for strengthening African higher education institutions to drive economic transformation.

5) Financial Inclusion: The Foundation is actively working with financial institutions like Equity Bank and KCB Bank in Kenya, and Ecobank and Access Bank in Ghana to provide affordable loans to MSMEs. This approach includes providing loan guarantees, training to bank staff, and pre- and post-loan support for entrepreneurs.

6) Operational and Organizational Development: The Foundation has increased its staff to 121 employees with 12 employees based in Africa. An employee engagement survey was completed and showed 82% engagement, although there were areas for improvement including professional growth and work-life balance.

Overall, the Mastercard Foundation's activities in the fourth quarter of 2018 demonstrate a strong commitment to its "Young Africa Works" strategy, with significant investments and strategic initiatives aimed at creating opportunities for young people across Africa. The Foundation is focused on building partnerships, leveraging technology, generating evidence, and supporting transformative leadership to achieve its ambitious goals for youth employment and economic development.