2021 Q3 Board Book (Staff)

The September 20-21st, 2021 Board Meeting focused on the Foundation achieving its goal of enabling 30 million young people, particularly young women, to access dignified and fulfilling work, with the Young Africa Works strategy as a central driver. The Foundation is also committed to building the capacity of African organizations and promoting inclusivity across all its programs.

Key initiatives and progress include:

1) Reimagining Work: The Foundation continues to develop country-specific roadmaps, with Ghana's roadmap approved and others in progress. The focus is on MSMEs, agriculture, and the digital economy as key sectors for youth employment.

2) Young Africa Works: There are specific programs in Ethiopia, Ghana, Kenya, Nigeria, Rwanda, Senegal, and Uganda, each with a focus on creating work opportunities. The Foundation is working to support vulnerable populations including refugees, people with disabilities, and internally displaced people. The Foundation reports that 1,607,126 youth are now in work.

3) Scholars Program: The Foundation is expanding access to education for talented but disadvantaged youth, with a focus on young women and people with disabilities. The program aims to support 100,000 young people by 2030. There is an emphasis on institutional and systemic change, as well as transitions to employment.

4) Higher Education Collaborative in Health: The Foundation is investing $200 million over 10 years in a new health strategy focused on primary health care and job creation. This collaborative aims to train 30,000+ medical doctors and health workers. The initiative includes a focus on women leaders in public health, health entrepreneurship, and developing sustainable health ecosystems.

5) BRAC Partnership: A five-year regional partnership with BRAC aims to empower 1.2 million poor adolescent girls and young women across seven African countries. The program includes microfinance, skills training, and support for micro-entrepreneurs.

6) Digital Transformation: The Foundation is using technology to support its programs, including through the Innovation Village.

7) Financial Commitments: The Foundation has committed $2.4 billion since 2017, with a focus on investing in African organizations. The Foundation is also requesting an increase in funding from $50 million to $200 million for the Fund of Funds pilot initiative.

8) Impact Measurement: The Foundation is using key performance indicators (KPIs) to measure progress. These include the number of young people reached, the number of young people in dignified work, and the percentage of African partners. The Foundation is also tracking the quality of work, using markers such as reliable income and respect in the workplace.

9) Internal Capacity: The Foundation is focused on building its internal capacity and risk management.

The Mastercard Foundation in Q3 2021 is scaling its impact across various sectors, continuing to adapt to challenges, with a clear focus on gender equality, and on investing in African institutions and partnerships.