2022 Q4 Board Book (Staff)

The December 15-16th, 2002 Board Meeting focused on the Foundation's continued commitment to its Young Africa Works strategy, alongside other key initiatives like the Scholars Program and Saving Lives and Livelihoods, with a focus on scaling impact and deepening its understanding of systems change. The Foundation has also prioritized internal improvements in operational excellence and talent development.

Key activities and initiatives include:

1) Young Africa Works Implementation and Expansion: The Foundation has committed $4.3 billion to the Young Africa Works program, with $2 billion already disbursed. The program has reached 4.5 million young people in dignified and fulfilling work with 98.3 million people reached overall. Regional programs are identified as the main driver of outreach. The program is shifting to a portfolio approach with all country teams completing outcome-based portfolio planning. The leading sectors for youth employment are agriculture (49%), MSMEs (31%), and the digital economy/technology (8%). A new $850 million envelope is proposed for the Senegal and West African Economic & Monetary Union (WAEMU) region to enable 6.2 million work opportunities by 2030. The Foundation is also working to front-load activities and intentionally prioritizing crops with high job potential for women.

2) Data-Driven Approach and Impact Measurement: The Foundation has completed baseline assessments and reviews by Impact Partner Organizations (IPOs). Country baselines are underway with Rwanda completed. Baselines of youth participants in Foundation programs are paused until data privacy can be assured. The Foundation has also engaged Young Impact Associates (YIAs) to work with IPOs in defining and measuring change.

3) Pan-African Initiatives: A Pan-Africa Strategy on Agriculture was approved, and other strategies are underway including: Human Capital Development, Digital Economy, Financial Instruments and the African Continental Free Trade Area (AfCFTA). A $156.4M Mastercard Foundation Fund for Resilience and Prosperity is being launched with KPMG, across 20 countries in Africa, aiming to create 250,000 direct jobs for young people. A $350 million partnership with AGRA is being launched to reach ten million unemployed and underemployed youth in the agriculture and food system.

4) Strengthening Partnerships: 63% of the Foundation's partners are African organizations, representing 50% of all funds committed. $2.2 billion has been committed to African organizations. The Foundation is focusing on working with more African organizations. A cross-boundary partnership in Ghana aims to create and scale entrepreneurship and employment opportunities for young people with the help of African banks.

5) Saving Lives and Livelihoods Initiative: The Foundation has purchased 67.7 million vaccines under the Saving Lives and Livelihoods (SLL) program. The program has expanded to include the vaccination of children. The Foundation is supporting the development of the continental vaccine manufacturing strategy, and will support the MADIBA Project in Senegal.

6) Scholars Program and EleV: The Scholars Program celebrated its 10th Anniversary in 2022, with 45,805 scholarships committed to date (72% female). The EleV program has supported 10,817 Indigenous youth across Canada.

7) Operational Excellence and Talent Development: The Foundation is working to strengthen enterprise capabilities, implement a technology roadmap, and strengthen its data strategy. There is also an emphasis on empowering leaders and developing talent within the organization.

8) Policy and Thought Leadership: The Foundation is seeking Board approval for its Policy and Thought Leadership strategy which will be a key lever to strengthen preconditions for sustainable access to livelihoods. The Foundation will invest 50% of the function's resources in young people as directly as possible.

9) COVID-19 Recovery and Resilience Program: The Foundation's COVID-19 response was effective in building resilience for MSMEs and young learners. Many of these partnerships have transitioned into Young Africa Works programs.

These activities demonstrate the Foundation’s ongoing work to achieve its goals, and a commitment to learning, adaptation, and collaboration with diverse partners to drive sustainable change.