2020 Q3 Board Book (Staff)

The September 23-24th, 2020 Board Meeting demonstrated a focus on adapting to the ongoing COVID-19 pandemic while continuing to advance the Foundation's "Young Africa Works" strategy, the Scholars Program, and the EleV program. There's a strong emphasis on reimagining work, integrating lessons from the pandemic, and enhancing resilience within communities and institutions. The Foundation is also implementing a new Impact Framework to better assess its programs.

Key activities and initiatives include:

1) COVID-19 Recovery and Resilience Program (RRP): The Foundation has committed $328.4 million to 111 partners in Africa and $6 million CAD to 17 Indigenous youth and community organizations in Canada. Disbursements are at 48% in Africa and 100% in Canada. The RRP has informed the Foundation's approach to refreshing and reimagining country programs and is focusing on areas such as healthcare, access to finance, e-learning, and digital solutions.

2) Reimagining Work: This initiative aims to adjust the Foundation’s approach to achieving its goal of enabling 30 million young people to access dignified and fulfilling work. It involves assessing existing sectors like agriculture, manufacturing and ICT, while also exploring new sectors like healthcare and education. There is an emphasis on accelerating digitization, improving economic opportunities for women and vulnerable populations, and developing regional programming.

3) Young Africa Works: $860.7 million has been committed to 85 partners, with 21.2% disbursed. The program is focused on building resilience and integrating learnings from the COVID-19 RRP. The Foundation is also developing a framework for reimagining program work that focuses on building resilience.

4) Scholars Program: The Foundation has invested $1.2 billion through 36 partners, including 25 university partnerships. COVID-19 has highlighted the importance of e-learning for the program. The Foundation is also prioritizing Scholars' transition to dignified and fulfilling work with initiatives such as the Scholars Entrepreneurship Fund (SEF) and the development of an Alumni Venture Fund.

5) EleV Program: The Foundation has committed CAD $64.1 million to five partnerships. The program is focused on Indigenous youth education in Canada and will integrate learnings from the RRP into its strategy, with a focus on internet connectivity, e-learning, and digital platforms to support tourism and food sectors. An additional CAD $6 million has been committed to 17 partnerships under the COVID-19 RRP.

6) Impact Strategy Implementation: The Foundation is implementing a new Impact Strategy, which will be measured using the Ghana country strategy as an example. The strategy aims to measure the impact of programs on individuals, families, communities, and institutions, moving beyond simple numerical values to consider holistic changes, like increased resilience and agency.

7) Digital Economy Framework: The Foundation is developing a Digital Economy Strategic Framework to harness digital technology for job creation and economic resilience. The framework focuses on digital skills, digital platforms, and digital entrepreneurship, intending to multiply the impact of the Young Africa Works program.

8) Refugee and Displaced Youth Strategy: The Foundation is developing a strategy to support and build the resilience of refugees and internally displaced youth, as well as their host communities. This will involve developing talent, connecting youth to opportunities, and strengthening institutions and ecosystems.

The Mastercard Foundation in Q3 2020 is actively adapting to the COVID-19 pandemic while also advancing its core programs. There is a strong emphasis on learning, collaboration, and using digital technologies to achieve its goals. The Foundation is also refining its strategies to address systemic challenges and enhance its impact on communities across Africa and Canada.