The MasterCard Foundation pledges $10 million support for Young African Leaders Initiative (YALI)
The MasterCard Foundation together with the White House, has announced a commitment towards supporting The Obama administration‚Äôs Young African Leaders Initiative (YALI). YALI is a signature effort to invest in the next generation of African leaders. President Obama launched YALI in 2010 to support young African leaders as they spur growth and prosperity, strengthen democratic governance, and enhance peace and security across Africa.
The MasterCard Foundation is making an initial commitment of $10 million over the next 5 years to help YALI reach nearly 10,000 young men and women in Africa. The announcement was made during a conference dubbed ‚ÄėThe Presidential Summit of the Washington Fellowship for Young African Leaders‚Äô, held at the Omni Shoreham Hotel in Washington. The three-day conference, July 28-30, is bringing together 500 of sub-Saharan Africa‚Äôs most promising young leaders to meet with U.S. entrepreneurs, government officials, and civil society representatives. The Presidential Summit follows six weeks of academic study at 20 institutions across the United States as part of the Washington Fellowship.
President Obama is also expected to unveil plans to create a network of YALI Regional Leadership Centers across Africa. The four new Centers will be located in leading universities in Ghana, Kenya, South Africa and Senegal. The Centers will provide practical training and development opportunities for emerging leaders on the continent, as well as a platform for their voices to be heard.
The YALI Regional Leadership Centres are part of a larger investment by the MasterCard Foundation in ‚ÄúEconomic Opportunities for Youth‚ÄĚ initiatives. The Foundation has already made commitments totalling to $177 million in 17 countries to initiatives that are providing young people with demand-driven job skills, life skills, mentorship, and access to financial services. These skills and services enable young people to find more secure and productive forms of employment or establish successful micro-enterprises.