2019 Q2 Board Book (Staff)

The June 17-20th, 2019 Board Meeting, focused on advancing the Foundation's "Young Africa Works" strategy through country-specific program approvals, strategic partnerships, and the expansion of key initiatives. This quarter includes significant investment in Ethiopia, Nigeria, and Uganda and a continued commitment to supporting youth employment, education, and financial inclusion across the continent.

Key activities and initiatives include:

1) Country Strategy Approvals: The board approved five-year strategies for Ethiopia, Nigeria, and Uganda, targeting 23 million young people with dignified work and requesting $800 million in funding. These strategies are built upon co-design workshops, identifying growth sectors, and establishing roadmaps for implementation. Ethiopia aims to create 10 million jobs by 2030, focusing on agriculture, manufacturing, tourism/services, and the digital economy. Nigeria targets 8-10 million jobs with a focus on agriculture, creative industries and technology, beginning in three states. Uganda aims to create 3 million jobs, concentrating on agriculture, tourism, construction/housing, and a catalytic fund for MSMEs.

2) Partnership Development: The Foundation is actively developing partnerships with various organizations to implement its strategies. These partners include financial institutions, training centres, private sector companies, and government agencies. For example, in Ethiopia, the Foundation is partnering with Kifya Financial Technology, the International Centre for Insect Physiology and Ecology (icipe) and the Entrepreneurship Development Centre (EDC). In Nigeria, NIRSAL PLC, Songhai Center and the International Institute of Tropical Agriculture (IITA) are among the prospective partners. The Private Sector Foundation Uganda (PSFU) is identified as an anchor partner in Uganda.

3) Scholars Program Expansion: The Foundation is expanding the Mastercard Foundation Scholars Program to new and existing partners. Four universities were selected to proceed with proposal development: Ashesi University, EARTH University, Kwame Nkrumah University of Science and Technology (KNUST), and the University of California, Berkeley. There is a focus on supporting scholars' transitions to employment and entrepreneurship and increasing the enrollment of refugee and displaced youth. A learning partnership has been established to improve the program.

4) Kenya Program Launch: The Foundation launched its Young Africa Works program in Kenya, announcing partnerships representing 50 percent of its target, with Equity Bank, Kenya Commercial Bank (KCB), Ajira and Moringa School. These partnerships focus on providing financial and training support to MSMEs and creating pathways to digital employment for young people.

5) Learning and Evaluation: The Foundation continues to emphasize learning and evaluation, with a focus on understanding program impact and making necessary adjustments. This includes supporting research projects at various universities and building the capacity of young African evaluators.

Overall, the Mastercard Foundation's activities in the second quarter of 2019 show a strong commitment to its "Young Africa Works" strategy through significant investments, strategic partnerships and a dedication to generating evidence to maximize impact. The Foundation is focused on creating opportunities for young people to access dignified and fulfilling work through education, skills development, and financial inclusion.