2022 Q2 Board Book (Staff)

The June 13-17th, 2022 Board Meeting focused on the Foundation scaling its impact and creating opportunities for young people in Africa, particularly young women, to access dignified and fulfilling work, as outlined in its "Young Africa Works" strategy. The Foundation is also committed to strengthening partnerships with African organizations and promoting inclusivity across its initiatives.

Key activities and initiatives include:

1) Young Africa Works: The Foundation is implementing country-specific roadmaps, with a focus on agriculture, MSMEs, and the digital economy. There is a shift towards a portfolio-based approach. The Foundation reports that 2,997,472 youth are in work to date, with 50% being young women. Specific country programs in Ethiopia, Ghana, Kenya, Nigeria, Rwanda, Senegal and Uganda are progressing. A $360 million investment is requested for the Ghana program, and a $250 million investment is requested for the Canada program.

2) Scholars Program: The Foundation is on track to achieving its target of 100,000 scholars by 2030 and is requesting an additional $1 billion for 2022-2025 to commit 30,000 scholarships. The program emphasizes leadership development, entrepreneurship, and smooth transitions to work. The program is expanding through new partnerships, including three new universities and three collaboratives. The program aims to support women, refugees, IDPs and people with disabilities.

3) University Health Collaborative: A $200 million, 10-year initiative will train 30,000+ primary health care workers and launch 2,000+ health ventures to create more than 10,000 work opportunities. The Collaborative includes partnerships with universities such as the University of Toronto, KNUST, and Ashesi University.

4) Saving Lives and Livelihoods (SLL): The partnership with Africa CDC is focused on vaccine procurement and distribution, with 48.6 million doses shipped to date, including 15.9 million Foundation-funded doses. The Foundation is also working to amplify messaging and increase vaccine demand.

5) Africa Growth Fund: A $200 million fund for African SMEs, with $150 million allocated to a Fund of Funds, $25 million to business development, and $25 million to management. A pipeline of 10 investment vehicles have been identified.

6) Digital Entrepreneurship: A $106.5 million initiative with Founders Factory Africa (FFA) aims to create and scale employment opportunities through digitally enabled ventures. FFA will contribute $15 million in venture funding.

7) Gender Equality: The Foundation is focused on gender equality, with 54% of people reached being women, and with a goal to reach 59% women in the future. The "Youth Voices Report (Gender)" was created using a storytelling approach.

8) Organizational Culture: The Foundation is working to reinforce "one culture" through leadership development, talent development, and strengthening enterprise capabilities. Succession planning and development plans for senior and critical roles are ongoing.

9) Financial Commitments: The Foundation has committed $3.4 billion from 2017 to April 30, 2022, with 66% of funds committed to African organizations.

10) Impact Measurement: The Foundation is using key performance indicators (KPIs) to measure progress. The Foundation is also focused on generating, integrating, and leveraging thought leadership.

In Q2 2022, the Mastercard Foundation continues to scale its programs, focusing on strategic partnerships, gender equality, and investing in African institutions and leadership. The Foundation is also prioritizing operational excellence and is working to strengthen its internal capacity.