2022 Q1 Board Book (Staff)

The March 30-31st, 2022 Board Meeting focused on the Foundation's commitment to its "Young Africa Works" strategy and a focus on scaling its impact across the African continent, with an emphasis on creating dignified and fulfilling work opportunities for young people, especially women. The Foundation is also prioritizing digital transformation, strategic partnerships with African organizations, and strengthening its internal capacity.

Key initiatives and progress include:

1) Young Africa Works: The Foundation is working to implement its roadmaps in Kenya and Rwanda, with approved budget envelopes of $300 million and $220 million, respectively. The focus is on MSMEs, agriculture, and the digital economy as key sectors for job creation. The Foundation is also developing a pan-African program approach to drive innovation and scale across the continent, with a focus on areas such as trade, the digital economy, agriculture, climate action, and renewable energy.

2) Centre for Innovative Teaching and Learning (CITL): The CITL is expanding its focus to include learners and instructors at all levels, working with Tech Hubs to scale the impact of EdTech companies. The Foundation has allocated a $120 million budget for CITL's roadmap over the next four years.

3) Saving Lives and Livelihoods (SLL): The Foundation's partnership with the Africa CDC is progressing, with approximately 11.8 million vaccine doses delivered to 22 countries and over 1.4 million doses administered. The SLL initiative is also focused on strengthening vaccine manufacturing in Africa.

4) African Leadership Group (ALG): The partnership with ALG is focused on developing 3 million ethical and entrepreneurial African leaders by 2035. The ALG has made significant progress, exceeding its 2021 targets for work opportunities by 170% and its outreach targets by 255%.

5) Regional Programs: The Foundation has a growing portfolio of regional programs, with a total Board approved envelope of $3.02 billion. These programs focus on health, education/skilling, access to finance, and agriculture. The Foundation is also working to improve its approach to governance and partnership management.

6) Organizational Health: The Foundation has conducted an Organizational Health Index (OHI) survey to assess its internal practices and identify opportunities for improvement. The survey results show strong alignment to the Foundation’s mission and strategy, with opportunities to improve in areas such as role clarity, performance management and operational processes.

7) Financial Commitments: The Foundation is continuing to invest in African organizations and initiatives.

In Q1 2022, the Mastercard Foundation is focused on implementing its Young Africa Works strategy, scaling its programs, and on building strategic partnerships. The Foundation has also prioritized gender equality and is working to improve its internal capacity and processes. The Foundation is also seeking to measure its impact across various sectors and to promote inclusivity across its initiatives.