WASHINGTON, D.C. – US President Barack Obama on Monday announced
that the U.S will invest more than $38 million toward four regional Leadership
Centers that will train thousands of Africa’s emerging leaders and foster
connections, creativity, and collaboration in sectors critical to Africa’s
growth and development.
The funds which will be channelled through US Agency for International
Development (USAID) was more than matched by African and American companies and
foundations, including a $10-million, five-year commitment by The MasterCard
Foundation, a premier partner.
The President made the announcement during a town hall event
for 500 Mandela Washington Fellows, a program for distinguished African youth
that is part of the President’s Young African Leaders Initiative, or YALI.
The Centers will focus on engaging leaders between the ages
of 18 and 35 from a variety of backgrounds and a diversity of experience and
providing accessible leadership training, incubating organizations and
entrepreneurship, and supporting professional connections among African
leaders.
Based in Ghana, Kenya, Senegal, and South Africa, each center will be
run as a public-private partnership, capitalizing on the ingenuity and dynamism
of the private sector and the programmatic and educational resources of USAID.
Nine private sector partners and foundations are joining USAID in supporting
the effort.
“The MasterCard Foundation is delighted to partner with
USAID on the next stage of the Young African Leaders Initiative. YALI offers
great promise for talented young men and women of Africa, and includes critical
education, entrepreneurship and leadership development opportunities. We are
proud to invest in this next generation of African leaders who are poised to
drive change in their communities, countries and across the continent,” said Reeta
Roy, President and CEO of The MasterCard Foundation.
Other contributers to the cause are,
- The Dow Chemical Company, which will shell out $3 million toward training facilities and equipment at the centers and $1 million in in-kind resources to develop leadership training, sector expertise, and mentoring programs for the centers.
• Atlas Mara: $25 million in
loans for young entrepreneurs, financial training, and leadership development.
• Microsoft: $12.5 million in
propriety business software and hardware.
• Intel Corporation: $5 million
toward training in entrepreneurship basics and technology trends, as well as volunteer
support and coaching.
• McKinsey Corporation: $1.5
million in dedicated consultants to assist with program design, as well as management
support and access to McKinsey's Africa Knowledge and Research center.
• IBM: $500,000 in committed
staff time to serve as volunteers at the centers.
• General Electric: program
design, training and mentoring.
• Procter & Gamble:
leadership training.
• The Mara Foundation: networking
mentorship program.