2022 Q3 Board Book (Staff)

The September 21-22nd, 2022 Board Meeting focused on advancing financial inclusion and youth learning, particularly in Africa, with a goal of enabling young people to achieve their full potential. The main focus is on the Young Africa Works strategy, which aims to enable 30 million young people to access dignified work by 2030. The Foundation is working towards this goal by focusing on key sectors including agriculture, manufacturing, and the digital economy.

Key activities and initiatives from this quarter include:

1) Young Africa Works in Ethiopia: A new envelope of $650 million is being requested to reach 4.6 million youth in work by 2025, with a focus on agriculture, agro-processing, and the digital economy. This builds on an initial investment of $300 million in 2019 which enabled 519,000 youth to find work. The program is focused on strengthening markets, enhancing technological solutions, increasing financial inclusion, and building individual capabilities. The Foundation has also enabled the development of national strategies for digital innovation, tourism, and job creation in Ethiopia.

2) Young Africa Works in Uganda: A new envelope of $320 million is being requested to enable 1.2 million young people to access dignified work by 2026, with a focus on agriculture and the digital economy. This is building on an initial investment of $200 million in 2019 which set a target of 850,000 young people in work by 2025. The program is focused on MSME interventions, market systems and linkages and inclusive finance. The Foundation is also exploring the potential of the Parish Development Model (PDM) to reach rural and vulnerable young people.

3) Scaling Proven Programs: The Foundation is seeking approval to scale four partnerships: Shining Hope for Communities (SHOFCO) in Kenya, the African Entrepreneurship Collective (AEC) & Amahoro Coalition (AC) in multiple countries, the Jiinue Growth Program (JGP) in Kenya (implemented by Grassroots Business Fund (GBF), GROOTS, 4G Capital and Powered by People), and the Women Farmers Advancement Network Enterprises (WOFAN) in Nigeria. These programs focus on supporting vulnerable populations, particularly in informal settlements and refugee communities, and are aimed at providing access to skills, finance, and employment opportunities. These scaling efforts include previewing a pipeline of similar partnerships within the Scholars Program and Young Africa Works country programs.

4) Saving Lives and Livelihoods Initiative: The program has delivered approximately 3.2 million vaccine doses across 12 countries. Implementation is underway in Ethiopia, Kenya, Namibia, Nigeria, Rwanda, and Lesotho. Africa CDC is working to reallocate doses to countries with demand and is refining its processes to expedite approvals and implementation. The Foundation is also supporting the development of the Partnerships for African Vaccine Manufacturing (PAVM) program to increase local vaccine production.

5) Technology Services Industry: The Foundation is exploring the potential for creating work opportunities through technology-focused outsourcing platforms. Research indicates a significant opportunity for job creation in Africa's technology services sector, with a need to address challenges related to infrastructure and managerial talent.

6) Reimagining Agri-food Systems: The Foundation is exploring strategic options to accelerate job creation in the agriculture sector, which is the largest employer in Africa. The focus is on increasing productivity, value addition, and leveraging climate-smart solutions.

7) Partnerships: The Foundation is working with local organizations with a deep understanding of the context. It is also focusing on integrated approaches, scaling successful models and partnering with organizations with an appetite for scale.

These activities demonstrate the Foundation's efforts to create sustainable impact by investing in key sectors, strengthening local organizations, and scaling successful programs across the continent. The Foundation is also committed to adapting its approach in response to new information, challenges, and opportunities.