2020 Q4 Board Book (Staff)

The December 14-15th, 2020 Board Meeting, focused on the Foundation's strategic partnerships, digital transformation, and adapting to the ongoing COVID-19 pandemic while continuing to advance its "Young Africa Works" strategy, the Scholars Program, and other initiatives. The Foundation is also actively working on reimagining work and strengthening its internal operations and impact measurement frameworks.

Key activities and initiatives include:

1) Strategic Partnerships: The Foundation is engaging in major partnerships with the African Leadership Group (ALG), and Carnegie Mellon University-Africa (CMU-Africa). The ALG partnership aims to place 2 million young Africans in dignified work by 2030. The CMU-Africa partnership is a $265 million initiative to drive inclusive digital transformation in Africa by producing skilled digital talent and fostering digital entrepreneurship.

2) Young Africa Works: The Foundation remains committed to its goal of enabling 30 million young people to access dignified and fulfilling work by 2030. The "reimagine work" process is ongoing, aiming to sharpen strategies in light of the shifts caused by COVID-19. The program is focused on key sectors such as agriculture, the creative industry, and the digital economy, and the Foundation is developing country-specific roadmaps, including in Ghana.

3) Scholars Program: The Foundation has invested $1.2 billion through 36 partners, supporting 39,560 scholars, with 11,942 having completed their studies. The program conducted its first comprehensive alumni survey, providing insights into scholar pathways and outcomes. The Foundation has also expanded the Baobab Platform to facilitate alumni engagement and leadership development.

4) COVID-19 Response: The Foundation continues its COVID-19 Recovery and Resilience Program, focusing on providing access to finance for MSMEs and entrepreneurs, supporting healthcare workers, and promoting e-learning and training. A public awareness campaign was launched in seven countries, reaching over 140 million people.

5) Digital Transformation: The Foundation is prioritizing digital transformation across its programs and initiatives. This includes developing a digital economy strategic framework, supporting digital entrepreneurship, expanding e-learning and training opportunities, and building digital platforms. The CMU-Africa initiative is a major component of this digital transformation strategy.

6) Impact Measurement and Learning: The Foundation is focusing on tracking outcomes and impact, using data from surveys, digital diaries and other sources. There is emphasis on the quality of work and measuring the impact of programs on individuals, communities, and systems.

7) Financial Commitments and Disbursements: The Foundation has made significant financial commitments across its programs. Cumulative commitments since inception total $4.4 billion, with $2.45 billion disbursed. The Foundation has also committed funds to specific countries such as Nigeria ($192.4 million), Rwanda ($106.5 million), and Ghana ($163 million).

8) Internal Operations: The Foundation is working to strengthen its controls and processes and is leveraging technology to enhance operations. There is also a focus on promoting diversity and inclusion across its programs and initiatives.

9) Focus on Women: The Foundation is prioritizing initiatives that support young women through financial services, training, and access to entrepreneurship opportunities. The CMU-Africa initiative has a goal to enable 50% of scholars to be women by 2025.

Overall, the Mastercard Foundation in Q4 2020 is strategically focused on scaling its impact through partnerships, driving digital transformation, and responding to the ongoing challenges of COVID-19. The Foundation is demonstrating a commitment to its core goals of enabling young people to access dignified and fulfilling work while also building the capacity and resilience of communities and institutions across Africa and Canada.