2019 Q4 Board Book (Staff)

The December 12-13th, 2019 Board Meeting discussed the Foundation's "Young Africa Works" strategy and focused on implementation, strategic partnerships, and scaling up key initiatives across the continent. There was also significant attention paid to the Mastercard Foundation Scholars Program, including tracking alumni and planning for further expansion.

Key activities and initiatives include:

1) "Young Africa Works" Implementation: The Foundation's "Young Africa Works" program is underway in seven countries, with approximately $580 million committed to 45 partners and $87 million disbursed. The Foundation launched Young Africa Works in Ethiopia with a goal of enabling 10 million young people to secure dignified work by 2030. The initial phase of this program involves $120 million in commitments to generate 1.4 million work opportunities. The program focuses on key growth sectors such as agriculture, digital economy, creative industries, and tourism. Country operations are being established, with offices opening in Ghana, and temporary spaces in Ethiopia, Kenya, Senegal and Uganda. The Foundation is also working to influence national job creation strategies through partnerships with government entities.

2) Mastercard Foundation Scholars Program: The Foundation is expanding the Scholars Program, with a focus on African university partnerships and the goal of increasing the proportion of tertiary-level opportunities at African universities. A $300 million envelope for the expansion of the Scholars Program has been approved. Analysis of return rates to Africa of scholars who studied abroad shows that return rates increase over time, with 64% of those who graduated four to five years ago having returned. The Foundation is working to strengthen pathways for scholars to return to Africa by connecting them to "Young Africa Works" programs and building relationships with employers.

3) Financials and Operations: Disbursements for 2019 are projected to be between $300-$320 million. Operating expenses are projected to be $62.5 million. The Foundation is also focused on its organizational transformation and is continuing the implementation of its new operating model.

4) Strategic Partnerships: The Foundation is continuing to develop strategic partnerships with various stakeholders in Africa including government, private sector, and non-profit organizations. There is emphasis on co-creation with partners and stakeholders.

5) Learning and Evaluation: The Foundation continues to focus on learning and measurement, including tracking alumni, with a focus on understanding program impact and making necessary adjustments. The Foundation is beginning a five-year longitudinal cohort study of scholars to track their post-program transitions.

Overall, the Mastercard Foundation's activities in the fourth quarter of 2019 reflect its commitment to the "Young Africa Works" strategy, with an emphasis on program implementation, strategic partnerships, and a focus on learning and measurement. The Foundation is actively working to create opportunities for young people to access dignified and fulfilling work through education, skills development, and financial inclusion, while also supporting the growth of the private sector and strong institutions in Africa.