Welcome to CENFACS’ Online Diary!
26 October 2022
Post No. 271
The Week’s Contents
• FACS, Issue No. 77, Autumn 2022, Issue Title: Financial Security for the Poor
• “A la une” (Autumn Leaves of Action for the Upkeep of the Nature in Existence) Campaign – In Focus for Week Beginning 24/10/2022: Preservation of Dwarf Honeyguide
• Medium-term Actions/Service under the Campaign to End Poverty Induced by Rising Costs of Living
… And much more!
Key Messages
• FACS, Issue No. 77, Autumn 2022, Issue Title: Financial Security for the Poor
How to reduce financial worries and stresses for the income poor at this challenging time of the cost-of-living crisis
• • Abstract for the 77th Issue of FACS
The lingering effects of the coronavirus and the current cost-of-living crisis are making worried and stressed many ordinary and poor people and families. They are making them worried and stressed as prices of goods and services keep rising while people’s incomes and financial support do not match the level and scale of soaring cost of living. These people and families need some form of financial security if one needs to avoid the current crisis to become a humanitarian one.
The 77th Issue of FACS, CENFACS bilingual newsletter, will help not only to understand their financial worries and stresses, but also to explore with them positive coping strategies and mechanisms to calm their mind and find peace of mind. In this respect, the Issue provides some tips and hints to avert the transformation of the cost-of-living crisis they are experiencing into a humanitarian one.
Many of those making our community are looking for financial security in order to make ends meet or just to cover their basic life-sustaining needs. There are income deficit and indebted amongst them; those having their amount of income falling short of their spending. They all need financial security to avoid that the current crisis pushes them to the brink of humanitarian catastrophe or collapse.
The 77th Issue explores ways of building financial security with and for these people and families. Although the Issue does not list organisations and institutions that provide financial security cover, it bundles a number of financial security fixes with and for them.
At the current challenging time of the cost-of-living crisis, the 77th Issue of FACS is a journey with those people and families on how they can raise the finances they need and erect the basic foundations of financial security. Through the 77th Issue, it is in the best interest of users to try together to identify the levels of financial security they need, whether high or low or medium.
Financial security is not only about our closer community, CENFACS Community. It is also about our extended community; that is the people with whom our Africa-based Sister Organisations (ASOs) work in Africa. For these distant communities and people, financial security is about how they are trying to develop their coping financial strategies (for example, if they got any financial bailout) in order to mitigate the combined side effects of the coronavirus and other diseases, the cost-of-living crisis and changing climate.
The 77th Issue goes further miles in exploring how these ASOs are adjusting their not-for-profit or charitable model in order to continue to serve their communities in this context of spiralling prices of money, food, energy and other goods and services.
Likewise, it contains an appeal for a portion of financial dividend created (e.g., from illicit financial flows in Africa) to be channelled to ASOs working with poor people and communities. In appealing in this way, this could provide a starting point or a new development in connecting the above-mentioned poor people and families with financial niches that are supposed to help them, but they are not doing it at the moment.
Finally, the 77th Issue of FACS provides some constituents or elements a foundation for a programme of work with our community on ways of building and developing financial security with these people and families.
To get a glimpse of the subjects discussed in the Autumn Issue of FACS in order to make financial security happen or to reduce financial worries and stresses for the income poor, please read the summaries presented under the Main Development section of this post.
• “A la une” (Autumn Leaves of Action for the Upkeep of the Nature in Existence) Campaign – In Focus for Week Beginning 24/10/2022: Preservation of Dwarf Honeyguide
Dwarf Honeyguide, which is a species of honeyguides in the indicatoridoe family, is found in the Democratic Republic of Congo, Rwanda, Uganda and Burundi. Its scientific name is indicator pumilio. Research on Dwarf Honeyguide suggests that their number is under-recorded. They are near threatened species that need preservation. What does their preservation mean?
• • Preservation of Dwarf Honeyguide
It is about saving Dwarf Honeyguide from loss and keeping it safe from danger and death. As the ‘mynextbird.com’ (1) puts it
“Bird preservation refers to efforts to protect bird populations and their habitats from human impacts. This is an important endeavour for a number of reasons. First, birds are incredibly diverse, with a wide range of species occupying different niches in the ecosystem. Indeed, some birds play critical roles as pollinators, seed dispersers, and predators”.
For example, many studies on honeyguides infer that the population of Dwarf Honeyguide is declining due to the destruction, degradation and fragmentation of the Albertine Rift montane forests. The latter is a tropical moist broadleaf forest ecoregion in East-central Africa which covers the Western portion of Rwanda and Burundi, the Eastern edge of the Democratic Republic of Congo, and the portions of Western Uganda and Tanzania.
Dwarf Honeyguide is a species that is near threatened by shifting agriculture and illicit logging, just it suffers from the impact of pollution and human conflicts. There are documented studies that indicate that during the first and second wars (1996-1997 and 1998-2003) in the Democratic Republic of Congo, the montane forests of Eastern sector of this country suffered from degradation. This suffering also affected Dwarf Honeyguide population and habitat.
Because of that, actions need to be taken to deal with the situation. As “A la une“ Campaign is about actions not words, we are going to take actions with the community and the rest of the community.
• • Actions to preserve Dwarf Honeyguide
The kind of actions we are going to list below comes from Birdlife International (2). They include the following:
√ Help in the survey of the total population of Dwarf Honeyguide since its number is under-recorded
√ Tackling illicit logging through patrols by local rangers
√ Increasing the area of suitable habitat or protected areas
√ Tracking its umbers through population trends
√ Monitoring of rates of habitat loss and degradation.
Besides these actions, one needs to consider actions of better way of preserving Dwarf Honeyguide, to choose the right preservation methods and the cost of preservation.
Regarding for instance the cost of preservation, one may also include fundraising actions. Concerning the right preservation methods, one can consider education as a way to acquiring knowledge and skills. One can as well think of planting trees as this is an important aspect of the dynamics of Dwarf Honeyguide populations. Fruiting trees are attractive to them.
To sum up, these actions will be useful in keeping away from harm and danger, the rescue, rehabilitation and survivorship of Dwarf Honeyguide.
The above actions will indeed assist in preserving and conserving Dwarf Honeyguide, which is near endangered bird species in Africa.
To take actions and/or find out more about this third composed note and/or the entire “A la une” Campaign, please contact CENFACS.
• Medium-term Actions/Service under the Campaign to End Poverty Induced by Rising Costs of Living
In order to tackle any crises, one may need short-, medium- and long-term actions. These actions can be taken at the same time. In other words, there is no need to wait until the end of one action (e.g., short-term action) in order to start the other one (e.g., medium-term action).
So, while we are taking short-term action, we can still work with those members of our community who need medium-term service or action. This second level of actions (medium-term service) is designed to avoid that the cost-of-living crisis settles in with the time and becomes a humanitarian issue or crisis. Amongst actions to be taken, which will run between 6 and 24 months, include these ones listed below:
Assess with users about how the cost-of-living crisis is affecting them and their needs as a result of crisis effects
Develop with the applicants to the medium-term service an action plan to come out of the cost-of-living crisis in medium term
As part of the plan, encourage them to develop or learn skills that are adapted with the evolving time and help them navigate out of the cost-of-living crisis
Support them to build energy and food security systems in the medium term and beyond.
The service is available for those members of our community who need it and who would like to ask for it. To request and/or access the service, please contact CENFACS.
Extra Messages
∝ Happening this Week: Making Memorable Positive Difference Project
∝ Sustainable Trajectories for the Nature
∝Back-to-school Project: Integrated Training Centre in Doutchi, County of Dosso in Niger
• Happening this Week: Making Memorable Positive Difference Project
In Focus: Managing and Maintaining Infrastructures to Reduce Poverty in Africa
The 14th Event of Making Memorable Difference Project will start on 27/10/2022 as scheduled. It will be the celebration of African Abilities, Talents, Skills, Legacies and Gifts to Africa and the world.
For those who would like to make contribution to our Two Days of African History, they are welcome to do so. They can contribute to the following:
a) Heritage/Patrimony Day on 27 October 2022, day which will focus on Infrastructure Development as a Connector and Service Provider to Poverty Reduction
b) Legacies and Gifts Day on 28 October 2022; day which will concentrate on History of Infrastructures in Africa through Infrastructure Managers of the History.
• • To engage and or contribute to the history days
You can tell and share with us what they know about Managing and Maintaining Infrastructures to Reduce Poverty in Africa. Your telling or sharing could be in the form of:
texts, documents, references, comments, audio and visual materials, oral communications, art objects and any other historical resources.
• • To donate
For those who can, they could support CENFACS’ Two History Days and Making Memorable Positive Difference Project with a donation to acknowledge our efforts, to help us recover costs of organising such eventful days and to build forward better African History.
To engage with this year’s Making Memorable Positive Difference theme and or support this project, please contact CENFACS on this site.
• Sustainable Trajectories for the Nature with…
Actions to Reduce and or Stop Rising Temperatures
Sustainable Trajectories for the Nature (STN), which is part of the “A la une” Campaign, is also an environmental campaign on its own. This is because its contents are intertwined with some of the aspects of the “A la une” Campaign.
Under the STN, we are looking at Sustainable Trajectories in terms of the following trajectories:
∝ Temperature
∝ Sea levels
∝ Wildlife population
∝ Greenhouse gas emissions.
During COVID-19 lockdowns, there were some good results and news about the reduction of air pollution, electricity, transport use, industrial activity and noise in some big cities of the world including London and Kinshasa. Many confined places (in countries such as China) recorded low levels of energy demand and CO2 emissions.
However, do these good results suggest the decreasing pattern of temperatures in relation to the climate goal of reducing the global temperature to 1.5 degrees Celsius or it was just an exception due to the COVID-19 confinement? Are we moving towards the net zero emissions by 2050 (that is, not adding to the amount of greenhouse gases in the atmosphere)?
Indeed, the Paris Agreement central aim is about strengthening the global response to the threat of climate change by keeping a global temperature rise this century well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius.
Our work under STN is about searching on actions taken so far to reduce rising temperatures by checking if we are moving towards a net-zero carbon emissions world in the post-coronavirus recovery period and beyond. In this respect, we are looking at the above trajectories (that is temperature, sea level, wildlife population and greenhouse gas emissions trajectories in terms of rising temperature) if they are moving in the way of the Upkeep of the Nature.
The above is the key message about the campaign for Sustainable Trajectories for the Nature. To enquire about it and or to add your input, please do not hesitate to contact CENFACS.
• Back-to-school Project: Integrated Training Centre in Doutchi, County of Dosso in Niger
The Young People of the rural area of Doutchi want you to fund their project!
The centre aims at harmoniously integrating young people in their rural area and fighting against poverty through local sustainable development.
This project, which has been selected and highlighted as part of CENFACS‘ back-to-school programme of work, is unfunded,
We know that at this current time of the cost-of-living crisis, things are difficult for many people including small individual donors. However, for those who may be interested in this project, this is an opportunity to make a world of difference.
For those who would like to donate no direct cash, they can use any of the ten-themed ways of giving without directly donating cash, themed ways we have mentioned in our previous posts.
For those who prefer to donate cash, they can do it and their cash will be accepted.
Please, be one of our generous givers by helping to integrate young people in their rural area of Doutchi and fighting against poverty through local sustainable development.
Please do not wait to donate as the needs are pressing and urgent NOW.
To donate cash and/or no direct cash, please do not hesitate to contact CENFACS.
Further details about this project can be found at www.cenfacs.org.uk/supporting-us/
We look forward to your support to make helpful difference for the young people in their rural area of Doutchi and for fighting against poverty through local sustainable development there.
Thank you for your generosity.
Message in French (Message en français)
Se déroulant cette semaine: Projet ‘Faire une différence positive mémorable’
Gros plan: Gérer et entretenir les infrastructures pour réduire la pauvreté en Afrique
Le 14e événement du projet ‘Faire une différence positive mémorable’ débutera le 27/10/2022 comme prévu. Ce sera la célébration des capacités, talents, compétences, héritages et dons africains à l’Afrique et au monde.
Pour ceux ou celles qui voudraient contribuer à nos deux jours d’histoire africaine, ils/elles sont invité(e)s à le faire. Ils/elles peuvent contribuer à ce qui suit:
a) Journée du patrimoine le 27 octobre 2022, journée qui mettra l’accent sur le développement des infrastructures en tant que connecteur et fournisseur de services pour la réduction de la pauvreté
b) Journée des legs et dons le 28 octobre 2022; journée qui se concentrera sur l’histoire des infrastructures en Afrique à travers les gestionnaires d’infrastructures de l’histoire.
• • S’engager et/ou contribuer à ces Journées
Vous pouvez dire et partager avec nous ce que vous savez sur la gestion et l’entretien des infrastructures pour réduire la pauvreté en Afrique. Votre récit ou votre partage pourrait prendre la forme de:
textes, documents, références, commentaires, matériel audio et visuel, communications orales, objets d’art et toute autre ressource historique.
• • Faire un don
Pour ceux ou celles qui le peuvent, ils/elles pourraient soutenir les deux journées de l’histoire et le projet ‘Faire une différence positive mémorable’ du CENFACS avec un don pour reconnaître nos efforts, pour nous aider à recouvrer les coûts de l’organisation de ces journées mouvementées et pour construire une meilleure histoire africaine.
Pour participer au thème ‘Faire une différence positive mémorable’ de cette année ou soutenir ce projet, veuillez communiquer avec le CENFACS sur ce site.
Main Development
• FACS, Issue No. 77, Autumn 2022, Issue Title: Financial Security for the Poor
How to reduce financial worries and stresses for the income poor at this challenging time of the cost-of-living crisis
The contents and key summaries of the 77th Issue of FACS are given below.
• • Contents and Pages
I. Key concepts relating to Financial Security (Page 2)
II. Africa-based Sister Organisations and Financial Security fixes for income poor families (Page 3)
II. How People in Need can Erect the Basic Foundations of Financial Security (Page 3)
III. Financial Security, Net Worth and Poverty Line (Page 4)
III. Tips and Hints for Building a Successful Financial Security (Page 4)
IV. Ajustements de modèles à but non lucratif africains face à l’insécurité financière (Page 5)
IV. Appel de charité concernant les fonds internationaux récupérés (Page 5)
V. Comment les organisations sœurs basées en Afrique organisent la sécurité financière avec leurs adhérent(e)s (Page 6)
V. Créations et innovations en matière de sécurité financière par des organisations sœurs basées en Afrique (Page6)
VI. Survey, E-questionnaire and E-discussion on Financial Security (Page 7)
VII. Support, Top Tool, Information and Guidance on Financial Security Matters (Page 8)
VIII. Workshop, Focus group and Enhancement Activity about Financial Security (Page 9)
IX. Giving and Project (Page 10)
• • Key Summaries
Please find below the key summaries of the 77th Issue of FACS from page 2 to page 10.
• • • Key Concepts Relating to Financial Security (Page 2)
There are four concepts that will help the readers of FACS to better understand the contents of the 77th Issue. These concepts are financial security, country financial security index, financial poverty and financial security number. These concepts also shape the 77th Issue of FACS.
Let us briefly explain them.
• • • • Financial Security
Financial security can have different meanings depending on the way in which one wants to approach it. In the context of the Autumn 77th Issue of FACS, Financial security has to be viewed from the perspective of what ‘quicken.com’ (3) argue about it, which is:
“Financial security refers to the peace of mind you feel when you aren’t worried about your income being enough to cover your expenses. It also means that you have enough money saved to cover emergencies and your future financial goals. When you are financially secure your stress level goes down, leaving you free to focus on other issues”.
The above-mentioned definition is the one we are referring to in the Autumn 77th Issue of FACS. Financial security here has to be differentiated from the financial instruments (like shares, bonds, stocks, gilts, bills of exchange, treasury bills, etc.) issued by firms, financial institutions (e.g., pension funds, investment funds, banks and insurance companies) and government. We are approaching financial security from the perspective of ordinary and poor people and families, those who do not financially have.
• • • • Financial Security Number
The website ‘capablewealth.com’ (4) explains that
“To find your financial security number, you need to add up all of [these] monthly costs, and then multiply by 12 in order to find the annual cost. This will show you exactly how much passive income you need annually, so you never have to worry about these expenses again”.
The costs this website is talking about include foundational expenses such as rent or mortgage, food, utilities (electricity, gas, water, phone, etc,), transportation, insurance expenses and so on.
The concept of financial security number will help to work with our users to determinate their financial security number.
• • • • Country Financial Security Index
According to ‘countryfinancial.com’ (5),
“Country Financial Security Index is a bi-monthly measure of Americans’ sentiments toward their overall financial security. It is an aggregate of various factors comprising financial security including savings and investments, financial planning, retirement, education and asset protection”.
Although this tool was designed to deal with Americans’ sentiments or feelings, it can be nevertheless applied to other nationals regarding their feelings towards financial security.
• • • • Financial Poverty
Poverty comes in various ways and has different manifestations. One of its manifestations is through finances. This is why some people speak about financial poverty. What is financial poverty? There could be many responses. One of the responses is from the Anglican Diocese of Gloucester (6), which argues that
“Where a household’s income is less than 60% of the UK average (identified by an annual government survey), that household is considered to be living in poverty. Poverty can be the result of issues around low income, unemployment and debt to ill-health and poor education”.
This definition of financial poverty will help to understand why some households struggle to have peace of mind, happiness and joy, while others do not have the same problem.
The above-mentioned concepts will be used in understanding the way in which ASOs are trying to make financial security happen to their users and communities. These concepts will as well be useful to find out why some of our users are able to reduce their financial worries and stresses while others are not at this challenging time of the cost-of-living crisis.
• • • Africa-based Sister Organisations and Financial Security Fixes for Income Poor Families (Page 3)
There are households that are unbanked and cannot resort to banks and capital markets in Africa in order to raise the finances they need. Africa-based Sister Organisations (ASOs) are working with these families and households to build some financial security. They work with them in the following:
√ Helping them to access financial services in order to build financial security instead of keeping their little cash money at home
√ Improving financial literacy amongst them through training to enhance financial security
√ Advocating with them and on their behalf so that they can have an extension for the maturity of financial services they are looking for
√ Supporting them to avoid destructive and irreversible coping mechanisms and strategies such as selling their assets or productive capacities in order to raise fonds
√ Assisting them to get digitally included and to use their phone to receive and send money through mobile money app
Etc.
All these initiatives contribute to peace of mind of their users as they help reduce worries and stresses in terms of finances.
• • • How People in Need can Erect the Basic Foundations of Financial Security (Page 3)
The basic foundations of financial security can come from knowledge, learning and the history of those who were financially insecure and how they navigated their way out of it.
Since we are in the October History Month and the Year of Knowledge at CENFACS, one can undertake a bit of some research work or do history to find out what financially insecure did in the past in order for them to get out of their financial insecurity problems. This knowledge of history of financially insecure people can help us to resolve our own financial security problem in the world of today’s cost-of-living crisis.
For example, one can find out how foundational expenses were dealt with in order to establish their own financial security.
From the knowledge of that past and the economic conditions of today’s world, one can start to build their own foundations of financial security today and tomorrow.
Briefly, to erect the basic foundations or foundational economy of our financial security it may require knowing and learning how the experience of yesterday’s financially insecure people would inspire poor people today. It is through this knowledge or learning that the foundations and fences of financial security can be built and developed today and tomorrow.
• • • Financial Security, Net Worth and Poverty Line (Page 4)
It is possible to make an assumption that financial security for the poor could be about the poor having a net worth at or above the poverty line. If one makes such an hypothesis, then one could work with poor people so that they live at or above the poverty line. But what it is the value of this line?
According to the World Bank (7),
“The new extreme poverty line is $2.15 per person per day based on 2017 purchasing power parities”.
From the above measure and value of poverty, Africa-based Sister Organisations can work with their users who are experiencing poverty and hardship so that they can be at or above this line. In this respect, those users who will be having a net worth of not less than £2.15 per person per day could be said are having some sort of financial security.
However, to truly argue that they are financially secure they need to have peace of mind and do not worry about their income being enough to cover your expenses
• • • Tips and Hints for Building a Successful Financial Security (Page 4)
To become financially secure, it is not a matter of luck only. It could be the result of every day’s effort that one can make by following the tips and hints relating to financial security. What are those tips and hints for a successful financial security?
There are various resources both online and in print regarding tips and hints to build and succeed in one’s financial security. Without going into the full list of these tips and hints, let us name few of them: creating financial goals, budgeting, developing an emergency fund, better handling your financial security indicators, etc.
Let us pick up one of them, which is the financial security indicator like the liquidity ratio. How can this ratio help to build financial security?
This ratio can show the household ability to fulfil current liabilities through liquid assets. It can provide information in terms of the household ability to meet unexpected cash needs.
The more those having financial security problem, and amongst them our members, can use the tips and hints to build their financial security; the more they are likely able to improve their peace of mind and have happiness. These tips and hints can be found and accessed within our Financial Security Analysis Project; project which we will allow us to work with the community so that our members can build and/or develop a successful financial security.
• • • Ajustements de modèles à but non lucratif africains face à l’insécurité financière (Page 5)
Les crises de ces dernières années (telles que le changement climatique, les épidémies et les crises du coût de la vie) signifient que le modèle de fonctionnement de nombreuses organisations à but non lucratif nécessite des ajustements structurels tant sur le plan de la forme que sur le fond. Le modèle qui a longtemps compté sur l’aide internationale s’est essoufflé. Parce que l’origine de l’aide internationale connaît aussi des crises financières. En plus, les marchés de capitaux internationaux ont resserré leurs étaux ou conditions, de même que les organisations non gouvernementales multinationales.
Cependant, les organismes sans but lucratif doivent se réinventer pour trouver d’autres moyens de financer ou de refinancer leurs opérations ou activités. Il en est résulté un besoin croissant d’ajustements au fond ou une remise en question de leurs modèles de financement et de fonctionnement pour mobiliser des fonds au niveau local, national, africain et pan-africain.
Bien qu’au début cela soit difficile, ces ajustements permettront de s’approprier leur travail et leur destin. C’est en s’ajustant qu’ils réduiront l’insécurité financière à laquelle ils sont confrontés aujourd’hui.
• • • Appel de charité concernant les fonds internationaux récupérés (Page 5)
Cet appeal consiste à demander qu’une partie des fonds récupérés dans le cadre de la lutte contre le blanchiment d’argent, la contrebande financière et le transfert illicite de capitaux soit affectée aux besoins de financement des organismes à but non lucratif.
C’est un appel pour qu’une partie du dividende financier créé (par exemple, à partir de flux financiers illicites en Afrique) soit canalisée vers les organismes travaillant avec les personnes et les communautés pauvres.
Mettre une partie de ces fonds récupérés à la disposition d’organismes sans but lucratif peut améliorer la sécurité financière de ces organismes. Toutefois, cette mise à disposition de fonds récupérés ne doit pas devenir un moyen permanent de financer leur travail de réduction de la pauvreté. Cette partie ne devrait être qu’une exception à la règle.
Pour soutenir cet appel, veuillez contacter le CENFACS.
• • • Comment les organisations sœurs basées en Afrique organisent la sécurité financière avec leurs adhérent(e)s (Page 6)
Elles le font de plusieurs manières en fonction de leur taille, de leur spécialité et du secteur dans lequel elles sont engagées. Il y a toute une gamme d’activités qu’elles exercent dans le contexte de la sécurité financière. En bref, nous pouvons compter les opérations suivantes.
Celles qui sont engagées dans des opérations de crédit à des taux bas ou à des taux d’emprunt concessionnels prêtent de l’argent à ceux/celles de leurs membres qui veulent s’engager dans des activités génératrices de revenus pour résoudre le problème de la pauvreté auquel ils sont soumis.
Celles qui se spécialisent dans le conseil conseillent leurs membres et leurs bénéficiaires afin d’éviter les stratégies d’adaptation ou de survie négatives qui consistent à s’endetter alors qu’ils n’ont pas de moyens de rembourser leurs dettes.
En gros, il existe une variété de services que les organisations sœurs basées en Afrique entreprennent pour répondre aux besoins de sécurité financière auxquels elles sont confrontées, bien que les deux exemples seulement ci-dessus aient été cités.
• • • Créations et innovations en matière de sécurité financière par des organisations sœurs basées en Afrique (Page 6)
La sécurité financière peut être créée et innovée. C’est possible de créer et innover avec nos adhérent(e)s distant(e)s/lointain(e)s à travers leurs représentant(e)s. C’est pourquoi nos organisations soeurs basées en Afrique travaillent avec des adhérent(e)s, leurs usagers, à travers de petits projets de création et d’innovation de securité financière.
Parmi ces petits projets ou programmes, on citer les suivants:
√ petits programmes pour prévenir les pertes d’argent
√ agir comme garantie du paiement des sommes dues par leurs bénéficiaires dans des circonstances définies
√ les aider à bien gérer les fonds formés en mettant périodiquement de l’argent de côté pour le remboursement progressif d’une dette ou le remplacement d’un actif gaspillé
√ le droit de tirage d’un montant limité sur l’instrument financier que l’organisation a mis en place
Etc.
A travers ces petits projets ou programmes, cela permettra de renforcer la solidité financière des pauvres et de leur permettre trouver ou retrouver le chemin de la sécurité financière.
• • • Survey, E-questionnaire and E-discussion on Financial Security (Page 7)
• • • • Financial Security Survey
The purpose of this survey is to collect information from a sample of our user households on their assets and liabilities in order to measure their liquidity ratio. This benchmark measure will enable to determine their financial health. Participation to this survey is voluntary.
As part of the survey, we are running a questionnaire which contains some questions. Three of these questions are:
√ How do you feel in terms of financial security?
√ How confident are you to cover any unexpected expenses?
√ Is your emergency/reserve fund enough for the next 3 months?
You can respond and directly send your answer to CENFACS.
To help people respond, they can think of any coping strategies to achieve the aim of financial security. Coping strategies are defined by the Food and Agriculture Organisation of the United Nations and the World Food Programme (8) as
“Activities to which people resort in order to obtain food, income and/or other essential goods or services when their normal means of livelihood have been disrupted or other shocks/hazards affect their access to basic needs” (p. 40).
These strategies can be crisis-, emergency- and livelihood-coping.
You can refer to this definition and respond by putting it into the context of financial security. Your response can help shape our campaign about Zero Income Deficit.
• • • • E-questionnaire on Actionable Financial Security Information
Do you have enough information on financial security?
If your answer is NO, CENFACS can work with you via its Bridging-Financial-Information-Gap Service (service which we offer to the community) to help you find the information you need on financial security.
• • • • E-discussion on Financial Skills, Diligence, Prudence, Foresight and Financial Poverty Reduction
To reduce financial poverty, it requires a degree of financial skills, diligence, prudence and foresight from the poor.
For those who may have any views or thoughts or even experience to share with regard to above-mentioned items (i.e., financial skills, diligence, prudence and foresight) making financial security, they can join our e-discussion to exchange their views or thoughts or experience with others.
To e-discuss with us and others, please contact CENFACS.
• • • Support, Top Tool, Information and Guidance on Financial Security Matters (Page 8)
• • • • Ask CENFACS for Financial Security Support
Under CENFACS’ Advisory Support for the Impacted of the Cost-of-Living Crisis, you can ask for support to deal with the struggle you are having to meet rising costs of living. CENFACS does not provide funding or financial support to individuals or households. However, CENFACS can advise them on the existing support available on the market in terms of financial security.
• • • • Top Tool of the 77th Issue: Financial Security Index
One can use this tool to measure their feelings concerning their financial security. They can even explore further ways of using this tool so that they can navigate toward financial security.
To discuss the relevancy of this tool and its application for your personal financial circumstances, please contact CENFACS.
• • • • Information and Guidance on Financial Security
You can request from CENFACS a list of organisations and services providing help and support in the area of financial security, although the Issue does not list organisations and institutions that provide financial security cover. Before making any request, one needs to specify the kind of organisations they are looking for.
Also, one should bear in mind that the kind of financial security we are dealing with is slightly different from the financial instruments or securities like shares, bonds, stocks, gilts, bills of exchange, treasury bills, etc.) issued by firms, financial institutions (e.g., pension funds, investment funds, banks and insurance companies) and government.
To make your request, just contact CENFACS with your name and contact details.
• • • Workshop, Focus Group and Enhancement Activity about Financial Security (Page 9)
• • • • Mini Workshop
Boost your knowledge and skills about financial security via CENFACS.
To enquire about the boost, please contact CENFACS.
• • • • Focus Group on Inequality in Financial Security
You can take part in our focus group on widening inequality in financial security since the cost-of-living crisis began.
To take part in the focus group, please contact CENFACS.
• • • • Summer Financial Security Enhancing Activity
How to use Financial Security Risk Index to work out your own household financial security risk
The index will help you find out your risk-aversion and vulnerability to rising costs of living and to work out your own sentiment towards your overall financial security.
To take part in this activity, please contact CENFACS.
• • • Giving and Project (Page 10)
• • • • Readers’ Giving
You can support FACS, CENFACS bilingual newsletter, which explains what is happening within and around CENFACS.
FACS also provides a wealth of information, tips, tricks and hacks on how to reduce poverty and enhance sustainable development.
You can help to continue its publication and to reward efforts made in producing it.
To support, just contact CENFACS on this site.
• • • • Financial Security Analysis Project (FSAP)
With prices of goods and services keep rising while people’s incomes and financial support not matching the level and scale of soaring cost of living, it is become obvious that many of our users are financially struggling. They are financially struggling as their assets are below their liabilities. In technical terms, they are financially insecure.
To address the level of insecurity and threat posed by financial insecurity to these struggling people, there is a need to develop appropriate response.
FSAP, which may not be a financial support in terms of cash or assets convertible into cash, can help to work with financial insecure people so that they can progressively navigate their way towards financial security.
For example, through this project we can carry out an express analysis of the financial security of our household users from their data. The analysis will help to determine the financial position of a given household user of our project. The analysis can provide some valuable information to potentially avoid financial poverty. In this respect, FSAP will help to level up those who are looking for sustainable solutions to financial crisis they are facing.
To support or contribute to FSAP, please contact CENFACS.
For further details including the Financial Security Analysis Project, please contact CENFACS.
The full copy of the 77th Issue of FACS is available on request. For any queries and comments about this Issue, please do not hesitate to contact CENFACS.
FACS Bilingual Newsletter / Issue Title: Financial Security for the Poor / Issue No.: 77 / Month & Year of Publication: October 2022 / Publisher: CENFACS
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• References
(1) https://mynextbird.com/how-to-preserve-dead-bird (Accessed in October 2022)
(2) datazone.birdlife.org/species/factsheet/dwarf-honeyguide-indicator-pumilio/text (Accessed in October 2022)
(3) https://www.quicken.com/what-financial-security (Accessed in September 2022)
(4) https://www.capablewealth.com/find-financial-freedom-number/(Accessed in October 2022)
(5) https://www.rasmussenreports.com/public_content/business/indexes/country_financial_security_index/country_financial_security_index (Accessed in October 2022)
(6) https://www.gloucester.anglican.org/support-service/financial-poverty/ (Accessed in October 2022)
(7) https://www.worldbank.org/en/news/factsheet/2022/05/02/fact-sheet-an-adjustment-to-global-poverty-lines (Accessed in October 2022)
(8) WFP and FAO, 2022, Hunger Hotspots, FAO-WFP early warnings on acute food insecurity: October 2022 to January 2023 Outlook, Rome (accessed in August 2022)
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• Help CENFACS keep the Poverty Relief work going this year
We do our work on a very small budget and on a voluntary basis. Making a donation will show us you value our work and support CENFACS’ work, which is currently offered as a free service.
One could also consider a recurring donation to CENFACS in the future.
Additionally, we would like to inform you that planned gifting is always an option for giving at CENFACS.
Donate to support CENFACS!
FOR ONLY £1, YOU CAN SUPPORT CENFACS AND CENFACS’ NOBLE CAUSES OF POVERTY REDUCTION.
JUST GO TO: Support Causes – (cenfacs.org.uk)
Thank you for visiting CENFACS website and reading this post.
Thank you as well to those who made or make comments about our weekly posts.
We look forward to receiving your regular visits and continuing support throughout 2022 and beyond.
With many thanks.
