Welcome to CENFACS’ Online Diary!
15 November 2023
Post No. 326
The Week’s Contents
• Pension Project of Poverty Reduction in Old Age (P³ROA)
• Coming This 19 November 2023: The 14th Edition of the Women and Children FIRST Development Day
• Data and Insight Skills to Manage Your Household – Under Consideration from Wednesday 15/11/2023: Data Storing Skills and Predictive Insights
… And Much more!
COMING SOON:
Key Messages
• Pension Project of Poverty Reduction in Old Age (P³ROA)
Our raw story of building sustainable retirement to avoid multi-dimensional poverty in the old age continues with the project proposals for the above-mentioned project. This project was initially thought and discussed when we announced the 80th Issue of FACS which dealt with ‘Pension and the Reduction of the Old Age Poverty in Africa‘.
P³ROA is a poverty-relieving initiative designed to work with unaware beneficiaries about their pension rights and obligations so that they can sort out their pension plans and rights as early as possible in order to avoid or reduce poverty in their old age.
Through this project, it is hoped that beneficiaries will take early and responsible steps both in terms of contributions and benefits so that they can prevent disappointment or surprise in old age that can lead to pension poverty. P³ROA will also motivate them to improve their means of living and contributions towards their retirement while making responsible decisions in terms of pension scheme choices or plans.
To extract more insights into P³ROA and its related proposals, please read under the Main Development section of this post.
• Coming This 19 November 2023:
The 14th Edition of the Women and Children FIRST Development Day with a Focus on Self-efficacy Skills to Refresh Ways of Tackling Crises
This year, our Development Day will still be about skills that can be learnt and developed in order to reduce poverty and enhance sustainable development. The skills we would like to learn and develop in this 14th Edition are those that we will help us to bounce back from the lingering effects of the coronavirus and the enduring cost-of-living crisis. Amongst these skills are Self-efficacy Skills to Refresh Ways of Tackling Crises.
• • Refreshing Ways of Tackling Crises to Bounce Back
Every day, women and children respond to crises and risks they face. Because the nature of crises and risks is changing, there could be a need to refresh ways of tackling these crises. This can be done through three Self-efficacy skills – resilience, flexibility and agility – which are ranked as the third top skills of 2023 in demand, according to the World Economic Forum (1). The 14th Edition of the Women & Children FIRST Development Day will concentrate on these skills in demand on the job market today.
Indeed, economies are trying to bounce back from the effects of polycrises. In this process of bouncing back, employment market is also trying to recover. To grab any opportunities that may come with this process, it requires the possession of some skills, mostly skills adapted to the features of the new or recovering job market.
Amongst these skills are Self-efficacy Skills, which will make our Development Day. Self-efficacy, which belongs to the skill family of attitudes, is made up of three skills: resilience, flexibility and agility skills. Self-efficacy will be thought both as an outcome and as a process for what we believe in terms of expectation of achieving goals, in particular poverty reduction and sustainable development goals.
• • The 14th Development Day as a Fresh Opportunity
The 14th Development Day will provide an occasion to exchange ideas and celebrate our resilience, flexibility and agility to get ready to grab new and emerging opportunities of the employment market to further reduce poverty and enhance sustainable development.
The 14th Edition of our Development Day will provide a window of opportunities to share and Celebrate the Wins in terms of self-efficacy. It will also offer a chance to Improve or Develop our Self-efficacy Skills. Of course, one day of development may not be enough to respond to all the very difficult problems women and children face; but it could be an extra step or turning point for some of them.
• • Celebrating the Wins while Developing Skills
On the Development Day, we are going to celebrate those wins or successes in terms of self-efficacy goals and targets. However, where we failed or fell short to meet our goals and targets, the Development Day can give us the opportunity or mental/moral resources/strengths to think and acknowledge the losses/failures so that we can improve in the future. In this respect, it is also the day of Self-efficacy Skills Development.
• • Working in Hybrid Fashion on the Development Day
How will the Development Day be organised?
The Development Day will be organised in two parts: Thinking and Celebration.
We will be working in hybrid fashion by splitting the two aspects of this year’s Development Day, which are: Thinking and Celebration.
• • • Thinking part
Since we are going to work in hybrid fashion, the participants to the Thinking part can remotely (from their home or office or anywhere else) think and share their thoughts on the Day using their Self-efficacy Skills.
For example, Development Day Thinkers can share with other participants their thoughts and life/work experiences about resilience, flexibility and agility.
• • • Celebratory part
Potential Development Day Celebrators could group themselves in a small health and safety secure working space (let say a group made up of 2 to 10 people including children) to share and recognise the value of poverty reduction and sustainable development amongst women and children. They can make up a Healthy, Safe and Secure Development Day Small Group (HSSDDSG).
• • • • What is a Healthy, Safe and Secure Development Day Small Group (HSSDDSG)?
A HSSDDSG is a number of two to ten adults including children gathered in a healthy, safe and secure space to share their poverty reduction and sustainable development experiences and wins in an informal and unstructured way.
Like in a discussion focus group, the group can systematically collect important information shared for impact monitoring and evaluation, learning and development purposes. The group can as well seize the outputs or outcomes achieved. Finally, the group can report to the community their experience of taking part in a HSSDDSG.
• • Key Terms or Concepts of the Development Day
The Development Day is about Self-efficacy. Self-efficacy, which belongs to the skill family of attitudes, is made up of three skills: resilience, flexibility and agility skills. These skills make up the key terms or concepts of the Development Day. Let us explain them.
(a) Self-efficacy
The definition of self-efficacy to be used during the Development Day comes from the psychologist Albert Bandura (2) who defines it as
“A personal judgement of how well one can execute courses of action required to deal with prospective situations”.
Still, according to Bandura, self-efficacy is
“An individual’s optimistic belief in their innate ability, competence or chances of successfully accomplishing a task and producing a favourable outcome”.
From Bandura’s perspective, self-efficacy is a psychological skill that one can foster and strengthen.
During the Development Day, we shall think of Bandura’s four sources of self-efficacy in our life, which are: mastery experiences, social modelling, social persuasion, and psychological response.
We shall as well reflect on the role of self-efficacy to reduce poverty. Indeed, self-efficacy can play a major role in the reduction of poverty as a goal. Self-efficacy can help develop interest in activities relating to poverty reduction, to commit to the goal of poverty reduction and to deal with potential threats and risks or challenging issues in the process of poverty reduction. From Bandura’s perspective, self-efficacy is a person’s belief in his or her capability to successfully perform a particular task. Here, the particular task is to reduce poverty.
(b) Resilience
The Development Day can take its definition of resilience from many sources. One of these sources or definitions is from Verywellmind (3) which explains that
“Resilience is the ability to cope with and recover from setbacks”.
From this point of view, resilience skills are therefore the abilities to ask for help, to manage situations, and to respond to life challenges (like job loss, financial issues, medical emergencies, etc.).
(c) Flexibility
Flexibility is the capacity to be adaptable to suit circumstances. According to ‘zippia.com’ (4),
“Flexible skills are the skills to be able to adapt to any high-stress situation and this is a situation most employers are looking for”.
From this approach, flexibility is a soft skill that is transferable between jobs, which means you can continually improve and find it relevant across occupations.
(d) Agility
The definition we have selected for agility comes from Verywellmind (5) which states that
“Agility is the ability to move and change the direction and position of the body quickly and effectively while under control. It requires reflexes, coordination, balance, speed, and correct response to the changing situation”.
Having agility skills mean being able to change your body’s direction and position effectively and efficiently to achieve certain goals.
Understandably, the Development Day will be on ways of improving or developing our Self-efficacy Skills to become more resilient, flexible and agile.
• • Have Queries or Enquiries for the Development Day 2023
The above are the main items that will feature this year’s Development Day. For any queries or enquiries about them, please do not to hesitate to contact CENFACS.
At the end of this Main Development section of this post, we have appended a timeline of CENFACS Development Day milestones.
Wishing you a SUCCESSFUL, HEALTHY, SAFE AND SECURE Development Day 2023!
• Data and Insight Skills to Manage Your Household – Under Consideration from Wednesday 15/11/2023: Data Storing Skills and Predictive Insights
To deal with Data Storing Skills and Predictive Insight Skills, we are going to briefly explain data storage and predictive insight in the context of households or families as well as the types of skills that can involve when households or families are trying to store their data and make prediction from the information the data are telling them.
• • Data Storage in the Context of Households/Families
First of all, what is data storage?
The definition of data storage can depend on the form of data and views on this matter. In the context of these notes, we have chosen the definition that relates to digital information. According to ‘purestorage.com’ (6),
“Data storage is the process of storing and preserving digital information for later retrieval and use. It enables computers and other devices to retain and access data in a structured manner, facilitating seamless data management and processing”.
If one refers to this definition, a typical average computer-digitally-literate-and-equipped household or family will store its data using data storage media such as tape storage, flash storage (flash memory stick), optical storage (CDs), cloud storage, etc. So, data storage in the context of households and/or families is simply about what types of and the place where household/family files are kept.
• • • Where household/family files are kept
Most of files we will be dealing with are those households/families can keep themselves. Generally, this data can be stored on premises, in a server, on the internet, data storage server and in cloud service. Other data like medical records are kept by relevant body like health authorities.
Regarding these files that households/families can keep themselves, they may include everything from invoices, tenancy agreements to sensitive files or information like their bank statements.
For example, in today’s digital world households can keep and access digital receipts and bank statements on their mobile phones, lap tops, tablets, etc.
• • • Effective and efficient methods of storing private files
When dealing with these households/families, a question one can ask is the following: Are these files kept in a safe, secure and easy place to access when they need the information containing in these files? Are these files or folders stored on a computer system or in a paper box or shelves of bookcase, etc.?
Depending on the way these households/families choose to store their files, it is possible to work with them so that they can find the effective and efficient methods of storing their private files. This will require some data storage skills.
• • Data Storage Skills in the Context of Households/Families
The question we are trying to answer here is: What skills does a typical household/family need to store data relating to its life?
There is a range of data storage skills that a household/family may use. Without listing all of them, we can mention the following skills that most household/family data storage administrators will need:
√ Organisational skills
√ Problem-solving skills
√ Data collection skills
√ Foundational statistical skills
√ Information and Telecommunication (IT) skills
√ Data entry skills
Etc.
Depending on the task a member of a typical household/family (e.g., household/family data controller or manager or administrator) is doing to store data, they may need a particular type of skills.
For example, if they are inputting the household/family data in a computerised database (e.g., a datastore) at home, they may need IT data entry skills. They may also need to understand a particular software (e.g., any of the versions of Microsoft Excel or Access) if they are using this software. If they are filing their children’s school files or records using a non-computerised filing system, they can manually organise their files in paper or metal box.
Briefly, it all depends on the skills they possess, the resources they can afford and the methods they choose to store their household data. Since, we are all trying to save papers, it will be worth for them to learn how to store some of their data or files using a digital device or a computer instead of keeping everything on papers. Again, this will belong to them whether they can afford it or not.
• • Predictive Insight Skills in the Context of Households/Families
Predictive insight skills come from the mastery of predictive analytics. What is predictive analytics?
There are many definitions of predictive analytics. Using the definition provided by Catherine Cote (7),
“Predictive analytics is the use of data to predict future trends and events. It uses historical data to forecast potential scenario that can help drive strategic decisions”.
Households that are statistically and mathematically skilled enough can take there predictive analytics to a different level by using predictive analytics tools like regression analysis to determine the relationship between two variables (simple linear regression) or more than two variables (multiple regression).
For example, they can check the relationship between their income and food inflation in order to answer the question, “What might happen in the future?”. To do that, they need some predictive insight skills.
• • Predictive Insight Skills in the Context of Households/Families
Predictive insight skills are the skills for turning data into insight. It all depends on the types of insight one wants. In this case, one wants prediction.
For example, Carolyn Sansom (8) provides six skills to turn data into insight, which are commercial acumen, domain knowledge, business partnering skills, ethical principles, creativity and methodical approaches.
Although these skills apply to businesses, they can be extended to households. Amongst them are creativity. One can use their creativity to generate predictive insights.
To sum up data storage and predictive insight skills, let us state that in this process of storing data and generating insights, CENFACS Community members are not left alone. They can work with CENFACS, especially those members who are struggling with data storage and predictive insight skills or who are simply having some problems to store their household/family data.
• • CENFACS Working with the Community Members through Data Storing and Predictive Insight Skills to Manage their Household
We would like to reiterate that the purpose of working with the community members on data and insight skills, here data storage and predictive insight skills, is to help them as follows:
√ to create trust in data and insight systems
√ to learn and build technical skills like statistical literacy skills
√ to enhance a culture of data and insight uses within household
√ to improve household/family the overall data and insight skills
√ to attach value to data and insight to explain and understand what is happening in their households
√ to empower and inform household data users and insight generators
√ to encourage the community members to register their skills on CENFACS Skills Data Bank
√ above all, to reduce poverty linked to poor data and insight skills; yet data and insight skills are necessary to deal with life-saving household/family matters. They are the lifeblood of any household or family.
• • Homework for This Week’s End: Generate Predictive Insights Based on Data Stored and Observed
A household having predictive analytics skills can use the history of their data to foretell, foresee, forecast and predict what could happen to its members.
For example, they can refer to the history of their income and expenses data in the last 12 months to forecast and predict what will happen (or future trends) if they do not take the required step in order to deal with the current costs of living.
They can consider to write a hypothesis to test and predict. The hypothesis can be worded in many ways like this one:
We think that this Christmas, we are (or will be) spending more than 5% of our income on food. Are we?
They can then prove or disprove this initial hypothesis using the data available. They can even predict what might happen in the future. To do that, they need to work out their real disposable income and consider all the probable changes in the rate of inflation and interest.
Those who have any queries about this homework, they can submit their queries to CENFACS.
For those members of our community who will be interested in Data Storing and Predictive Skills to Manage their Household, they can contact CENFACS. CENFACS can work with them to enhance their Data Storing and Predictive Insight Skills to Manage their Household.
Additionally, for those who would like to register their skills on CENFACS Skills Data Bank, they are welcome to do so. This registration will help in matching the support in terms of skills and the needs in the community.
To get further insight into Skills Development Month at CENFACS, please continue to read our weekly posts.
Extra Messages
• Support the Educationally Needy Children, Children Impacted by Crises in Africa
• Impact Monitoring and Evaluation of “A la une” (Autumn Leaves of Action for the Upkeep of the Nature in Existence) Campaign from 13/11/2023 to 20/11/2023
• Help to Build and Develop Financial Capacity and Capability
• Support the Educationally Needy Children, Children Impacted by Crises in Africa
The United Nations Educational, Scientific and Cultural Organisation (9) estimates that
“The out-of-school population in Sub-Saharan Africa increased by 12 million over 2015-21” (p. 19)
Likewise, the United Nations Children’s Fund (10) states that
“One of the first day of the new 2023-2024 academic year in Burkina Faso, 1 in 4 schools or 6,149 remain shut due to ongoing violence and insecurity in parts of the country”.
As a way of keeping education alive for these unfortunate children living in those parts of Africa in conflict crisis (like in the 3 borders area composed of Burkina Faso, Mali and Niger), many types of initiatives have been so far taken to support these children.
These initiatives have been carried out by organisations (such as the United Nations Children’s Fund) and people like you to help. Initiatives such as education by radio programme, back-to-school advocacy, delivery of school kits, etc. have been taken.
However, due to the immense educational challenge posed by the legacies of insecurity and violence, there is still a deep, intense and urgent educational need in many of these areas.
This appeal, which is worded as Every Child in Africa Deserves Education, has already started and will make CENFACS‘ fundraising campaign for Giving Tuesday on 28 November 2023.
We would like people who may be interested in our philanthropic mission to join us in this campaign.
We are asking to those who can to support these Educationally Needy Children, through this campaign, not to wait the Giving Tuesday on 28 November 2023.
They can donate now since the needs are urgent and pressing.
To donate, please get in touch with CENFACS.
• Impact Monitoring and Evaluation of “A la une” (Autumn Leaves of Action for the Upkeep of the Nature in Existence) Campaign from 13/11/2023 to 20/11/2023
Although we finished to compose the five notes or insect themed activities of the “A la une” Campaign during our 5-week campaign, this campaign for the Upkeep of the Nature does not stop with these notes. Our action for the Upkeep of the Nature – under the sub-theme of Protecting Endangered Insect Species delivered via ‘Niamankeke‘ Project -continues.
The five insect themed notes relating to this campaign are:
a) Saving Brenton Blue Butterfly
b) Conserving African Dung Beetle
c) Protecting Dawn Jewell (Chlorocypha Aurora)
d) Preserving Adetomyrma Venatrix (Dracula Ant)
e) Safekeeping Erikssonia Acraeina (Eriksson’s Copper).
The five add-on activities are:
i) Workshop on Insects as Food Providers
ii) Focus Group on Insects as Health Enhancers
iii) E-discussion on Insects as Reducers of Plastic Pollution
iv) A case study on Insects as Upholders of Ecosystems
v) A survey on Insects as Assistants in Disaster Relief.
We are now carrying on with the collection and analysis of information regarding this 5-week campaign in order to get its insights, impact or at least its output. The findings from this Impact Monitoring and Evaluation will help to figure out what has been achieved and what has not been accomplished through this campaign while giving us some flavour about the future direction of this campaign.
As part of this Impact Monitoring and Evaluation exercise, we would like to ask to those who have been following our 5-week campaign to share with us their feelings and thoughts about these three areas:
(a) The overall “A la une” Campaign and the ‘Niamankeke’ project
(b) Any of the insect themed activities you/they followed with us during this campaign
(c) Any of the add-on activities of this weekly campaign.
By sharing with us your feelings and thoughts about “A la une” Campaign, this could suggest that you value our work and show interest in what we are trying to achieve as an organisation generally and or in respect to the Upkeep of the Nature specifically. Your intervention could as well indicate that we share interest and concern regarding the health and wealth of the nature.
You can share your feelings and thoughts with us by:
∝ Phoning
∝ Texting
∝ E-mailing
∝ Completing the contact form with your feelings and thoughts.
When sharing your feelings or thoughts on the matter, please do not make statements to only please us. We do not expect people to please us. Instead, we would like you to give an objective and fair opinion.
We would like to thank in anticipation those who will be giving their opinions about the “A la une” Campaign.
• Help to Build and Develop Financial Capacity and Capability
In the run up to year-end celebrations, many of our project beneficiaries might be looking for ways of either building or developing their financial capacity and capability to help them cope with the financial demand and pressure relating to the Festive Season and beyond.
As part of smoothing their festive preparation and getting the coping and surviving strategies they need to meet the above-mentioned demand and pressure, we have put in place a basic level of support to work with them so that they can better manage their financial affairs and make life-saving financial decisions.
These Festive Season’s preparation resources and services to work with them to Build or Develop Financial Capacity and Capability include the following:
√ Helping our members to make better financial judgement within real-life settings
√ Supporting those who need mental capacity assessment around finances
√ Making our members to understand that the ability to make financial decisions is a life-saving skill
√ Working with the community on the 3 key determinants of financial capability which are knowledge and understanding, skills and confidence and attitudes
√ Bridging Financial Information Gap (a service we provide)
√ Summer Financial Updates (resource which is available)
√ Signposting beneficiaries to low-cost and free financial advice services
√ Zero Income Deficit Campaign
√ Financial data and insight advocacy (e.g., discuss a workable debt repayment plan with creditors)
√ Financial advice on how to create emergency or reserve fund, to set realistic financial capacity and capability goals and targets and so on
√ Working with our members to reinforce financial capacity with other types of capacity such as decisional capacity, understanding capacity, appreciation capacity, reasoning capacity, etc.
√ Help and support in terms of financial capacity and capability planning, budgeting, financial statistical literacy
Etc.
Those who may be interested in this Festive preparation and life-saving support, they can contact CENFACS.
Message in French (Message en français)
• Stimulateur des Revenus pour les Fêtes
Pleins feux sur l’édition 2023: Capacité et Aptitude financières –
Comment gérer vos affaires financières et prendre des décisions financières qui sauvent la vie
Les effets persistants du coronavirus et la crise du coût de la vie qui continuent dans la durée ont mis hors d’état de nuire financièrement de nombreuses personnes, y compris certains membres de la communauté CENFACS. Bon nombre de ces personnes financièrement incapables ont hâte de retrouver leur capacité financière et/ou l’aptitude financière qu’elles avaient avant ces crises et/ou de se doter de nouvelles capacités ou aptitudes.
En plus de ces personnes qui ont perdu leur capacité ou leur aptitude financière, il y en a d’autres qui n’ont pas la capacité ou l’aptitude de prendre des décisions financières sur leur vie. Cette deuxième catégorie de personnes aurait pu être soumise à diverses circonstances de la vie telles que la maladie, la vieillesse, l’accident, etc. Elles aussi doivent trouver la capacité ou l’aptitude financière.
Alors que nous nous dirigeons vers la fin de l’année 2023 et pendant la période des fêtes, le fait d’avoir une sorte de capacité financière et/ou d’aptitude financière peut aider à faire face à la pression financière de la demande des fêtes de fin d’année en termes de bonne gestion de l’argent et de jugement financier approprié. Une bonne capacité financière peut également contribuer à renforcer la santé et le bien-être financiers d’une personne.
L’édition 2023 de Stimulateur des Revenus pour les Fêtes met l’accent sur deux domaines de l’autonomisation financière: la capacité financière et l’aptitude financière. Premièrement, cela aidera les bénéficiaires de nos projets à mieux gérer leur argent et les aspects financiers de leurs événements festifs. Deuxièmement, il leur permettra de développer des connaissances, des attitudes, des compétences et des comportements en matière de gestion de leurs ressources financières.
En bref, l’édition 2023 de Stimulateur des Revenus pour les Fêtes traite de la capacité et de l’aptitude de gérer les finances et de prendre des décisions financières qui sauvent la vie.
Ceux ou celles qui seront intéressé(e)s à ce nouveau numéro, ils/elles peuvent contacter le CENFACS.
Main Development
• Pension Project of Poverty Reduction in Old Age (P³ROA)
The following items provide the key information about P³ROA:
σ Definition of P³ROA
σ The Aim of P³ROA
σ P³ROA Beneficiaries
σ Outcomes
σ P³ROA Indicators
σ Project Funding Status
σ Impact Monitoring and Evaluation.
Let us summarise each of these items.
• • Definition of P³ROA
P³ROA is a poverty-relieving initiative designed to work with unaware beneficiaries about their pension rights and obligations so that they can sort out their pension plans and rights as early as possible in order to avoid or reduce poverty in their old age.
Through this project, it is hoped that beneficiaries will take early and responsible steps both in terms of contributions and benefits so that they can prevent disappointment or surprise in old age that can lead to pension poverty. P³ROA will also motivate them to improve their means of living and contributions towards their retirement while making responsible decisions in terms of pension scheme choices and plans.
• • The Aim of P³ROA
The main aim of this project is to help reduce old age income poverty for those African individuals aged over 65 having an income below half the national median equivalised household disposable income.
The project will support those African people who are chronically poor all their lives, and are unable to save for old age, who become particularly vulnerable when they can no longer work, or if their family cannot support them.
However, the possibility of reducing old age poverty in Africa will depend on many factors in the area where the project will be implemented, as well as on any methodology used to collect and treat data.
• • Potential Beneficiaries of P³ROA
Amongst the types of people in need who could benefit from P³ROA as defined above are listed on the Figure no. 1 below:
Most of the types of people mentioned on the Figure no. 1 will need some form of economic security in old age like any human. For example, older women experiencing discriminatory customary law in property, inheritance and marriage matters need economic security.
• • Outcomes
After the implementation of P³ROA, it is expected that project beneficiaries will be able to realise the following:
√ Older persons will not or less rely on family support
√ There will be less proportion of disadvantaged heads of poorest households
√ Those working in informal economy with insufficient or no social protection coverage would have found solutions to pension poverty
√ The amount of project support towards the excluded from development programmes and discriminated against by service will increase
√ The rate of pension coverage for those poor uncovered members of groups/sections of the community (like domestic workers, farmers, self-employed and other low-income persons) will rise
√ There will be reduction of poverty amongst poor older persons caring for grand children
√ The reduction in poverty, isolation, the lack of protection, social exclusion, discrimination, violence, abuse and economic exclusion amongst the elderly will happen
Etc.
However, to be precise it is better to differentiate outcomes in project beneficiaries from those relating to Africa-based Sister Organisations.
• • • Outcomes in project beneficiaries
By using P³ROA, project beneficiaries will
√ be aware about their pension rights and obligations
√ sort out their pension plans and rights as early as possible
√ avoid or reduce poverty in their old age
√ take early steps both in terms of contributions and benefits
√ avoid disappointment or surprise in old age leading to pension poverty
√ motivate them to improve their means of living and contributions towards their retirement
√ make responsible decisions in terms of pension schemes or plans or even choices
√ improve their aspiration and motivation about pension
√ ameliorate their confidence, trust and self-esteem regarding pension services and products offered to them
√ build or develop their pension capacity skills to understand financial implications from today’s economic decisions for economic security in old age or the future
√ enhance their pension skills and knowledge
√ reform relationships between pension service providers (particularly those dealing with pension for the poor) and project beneficiaries
√ boost people’s perception, competence, knowledge and capability about pension
√ make responsible financial decisions and choices to avoid old age poverty
√ provide independence and choice to them instead of solely relying on their families, communities and next of kin for support
etc.
Briefly, project beneficiaries will have a better opportunity to run their financial matters linked to old age and avoid old age poverty trap.
• • • Outcomes in Africa-based Sister Organisations (ASOs)
Work undertaken by ASOs to help reduce poverty linked to old age should lead to:
√ adaptation of local needs and the needs of beneficiaries in their delivery of service to the elderly beneficiaries (one of these services is helping them to reduce old age poverty)
√ generating better local insights and capacities to create solutions to old age poverty for the needy and the elderly
√ improvement in the risk financial management insight for the elderly locals and local needs
√ assisting in the innovation of solutions to old age poverty for the needy
√ knowledge of financial risk transfer mechanisms between generations (for instance, the transfer of poverty between generations because of lack of or inadequate contribution towards old age)
√ capturing metrics relating to old age poverty and way of improving these metrics
√ increasing financial development in the area of support to the old age within beneficiaries’ community
√ reducing economic deprivation linked to old age
√ improving capability and confidence building in terms of old age contributions
√ reducing mental health problems induced by poor judgement about making contributions for the old age
etc.
• • P³ROA Indicators
The measures below will help find out whether or not the project will reach its desired objectives and progress towards meeting its defined aim:
√ The number of poor people who will be supported
√ The reduction of the number of poor elderly-headed households
√ The number of the elderly who will become less economically dependent on their children
√ The number/percentage of the elderly with social protection or adequate protection
√ The number of elderly Africans not relying on family support
√ The number of elderly living above the poverty line
√ The number of people who become less vulnerable to financial poverty as a result of this project
√ The number of surveyed poor people who are happy (optimistic) or unhappy (pessimistic) to P³ROA support provided or offered to them
Etc.
To conclude, P³ROA is project that will help to reduce old age dependency and poverty gap amongst the income poor Africans. The project will assist in building confidence in them to work on pension issues so that they can be prepared to avoid or reduce old age poverty. Through this project, they can understand the basic pension principles as well as be informed and guided on pension and the reduction of old age poverty.
In the event of their needs are beyond the scope of this project, they will be signposted to turn to low cost or free pension professionals for pension guidance or advice.
They can learn and know the issues surrounding economic security in old age. The project can support those without or with less information and knowledge about old age poverty to gain pension skills, make responsible retirement decisions and choices, and improve their ability to deal with old-age poverty issues.
Through Advice-, Guidance- and Information-giving Service, P³ROA will help make a real difference to poor peoples’ life and help shape their future.
• • Project Funding Status
So far, this project is unfunded. This means we are open to any credible funding proposals or proposition from potential funders or donors. Those who would like to support this project will be more than welcome.
To fully or partly fund this project, please contact CENFACS.
• • Impact Monitoring and Evaluation
As part of impact monitoring, there will be routine and systematic gathering of information on all aspects of the project. In other words, we will systematically collect and analyse information to keep regular checks and balances on the project.
Likewise, we shall assess what the project will achieve in relation to its main aim. This is to say that evaluation will be conducted regarding the efforts spent on this project to find out whether or not these efforts are value for relief as far as poverty reduction is concerned.
In proceeding in this manner, we will be able to measure the impact or at least the outcomes from this project.
The full project proposals including budget are available on request.
To support or contribute to this project, please contact CENFACS.
For further details including full project proposals and budget about Pension Project of Poverty Reduction in Old Age; please contact CENFACS.
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• References
(1) World Economic Forum (2023), Future of Jobs Report 2023: Insight Report May 2023 at https://www.weforum.org/reports/the-future-of-jobs-report-2023/ (accessed in September 2023)
(2) https://envisionyourevolution.com/wp-content/upload/2019/11/Albert-Bandura-concept-of-Self-efficacy-envisionyourevolution.com_pfd.1e548&1e548&12fe&12f5fc (accessed in November 2023)
(3) https://www.verywellmind.com/what-is-resilience-2795059 (accessed in November 2023)
(4) https://www.zippia.com/advice/flexibility-skills/# (accessed in November 2023)
(5) https://www.verywellmind.com/understanding-agility-in-sports-3120338# (accessed in November 2023)
(6) https://www.purestorage.com/knowledge/what-is-data-storage.html (accessed in November 2023)
(7) https://online.hbs.edu/blog/post/predictive-analytics (accessed in November 2023)
(8) https://www.grantthornton.co.uk/insights/six-key-skills-for-turning-data-into-insight/# (accessed in November 2023)
(9) UNESCO (2023), Global Education Monitoring Report Summary 2023: Technology in Education: A tool on whose terms? Paris, UNESCO
(10) https://www.unicef.org/burkinafaso/en/press-releases/burkina-faso-new-academic-year-starts-one-million-children-out-school-due-ongoing# (accessed in October 2023)
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• Appendix
Women and Children FIRST Development Day (WCFDD) Timeline: 2010 to 2022
Since its inception in 2010, the WCFDD provides an opportunity and scope to communicate CENFACS’ anti-poverty work/message and the need to develop new ideas and proposals and improve practices to enable us to enhance the quality of life of multidimensionally-deprived women/mothers and children. The following are the milestones so far for WCFDD.
In 2010, the WCFDD was devoted to AWARENESS on SUSTAINABLE ACCESS TO & PROTECTION OF ENVIRONMENTAL RESOURCES AND ENERGIES
In 2011, CENFACS’ WCFDD tackled the challenging issue of BARRIERS TO POVERTY REDUCTION, with a special emphasis on one particular way of overcoming them, which is participation. Women & Children’s Participation was looked at within the context of Race in the Road to Poverty Reduction.
In 2012, our Development Day in Putting Women and Children FIRST went further with the sub-theme of participation as it was organised around the theme of IMPROVING WOMEN’S AND CHILDREN’S PARTICIPATION IN THE RACE TO REDUCE POVERTY.
In 2013, WCFDD at CENFACS extended and deepened the idea of more and better participation by focussing on Infrastructures for Women’s and Children’s contribution to poverty relief. The theme for 2013 was “INFRASTRUCTURES FOR A POSITIVE ECONOMY TO REDUCE POVERTY”.
In 2014, we guesstimated and compared the cost for acting to the cost for inaction to reduce poverty. The theme of COSTING DOING NOTHING FOR POVERTY RELIEF improves our understanding on an early prevention that helps reduce costs and avoid escalating or detrimental effects for poor Women and Children.
In 2015, WCFDD was dedicated to MAKING THE 2030 AGENDA FOR SUSTAINABLE DEVELOPMENT WORK FOR WOMEN & CHILDREN (W&C). This was the local community response from the W&C of CENFACS to the 2030 Global Agenda and Goals for Sustainable Development.
In 2016, the theme for our Development Day was ENSURING HEALTHY LIVES AND PROMOTING WELL-BEING FOR WOMEN & CHILDREN. This was the continuation of 2015 Development Day. Ensure-Healthy-Lives-and-Promote-Well-being is itself Goal no.3 of the United Nations Sustainable Development Goals. One day of development thoughts does not make the 2030 Agenda works as we need more times and days. But it helped to look at Goal 3 (G3) as both global and local concept, G3 as a practical response and G3 as Protection for W&C in the CENFACS’ Year of Protections.
In 2017, ENDING POVERTY IN ALL ITS FORMS EVERYWHERE FOR WOMEN AND CHILDREN was our working theme for the WCFDD
In 2018, we thought ways of working together to come out of the linear model that consists of make, use and dispose goods and resources; to embrace the CIRCULAR ECONOMY
In 2019, we discussed and put ECONOMIC SUSTAINABILITY into practice via three specific activities which were: advice, art and design, and clothes recycling as an example to end clothing poverty.
In 2020, we formalised and structured CORONAVIRUS TALKS BUBBLE by giving it purpose and objectives so that participants to it can measure its impact or output on their lives.
In 2021, we celebrated and thought of Foresight Skills to help improve our capacity to predict and forecast future risks and crises (similar to the coronavirus) as well as plan actions based on improved knowledge, estimations and prospect.
In 2022, we thought and celebrated the wins of our Crisis Response Skills to better respond to the side effects of the current crisis (i.e., the cost-of-living crisis) and future crises and risks.
• Note: For your information,
3W (What Women Want) is a CENFACS support network scheme to enhance the lives of multi-dimensionally deprived women/mothers and families.
PPS (Peace, Protection & Sustainability) is a CENFACS child and environmental protection programme to support multi-dimensionally vulnerable children, young people and families
W&CSDP (Women & Children Sustainable Development projects) – a CENFACS amalgamation of 3W and PPS projects
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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. Likewise, CENFACS accepts matching gifts from companies running a gift-matching programme.
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 2023 and beyond.
With many thanks.
