FLF Africa launches Financial Literacy for Coronavirus Alleviation programme
The Financial Literacy Foundation Africa has launched a Financial Literacy for Coronavirus Alleviation programme (FLICA) which aims to provide education on how to handle economic and financial hardships arising from the Covid-19 pandemic.
This continental project will take place in all 46 countries in sub-Saharan Africa and aims to achieve financial independence for eight out of every ten individuals by 2030.
“The strategic approach will address attitudinal and behavioral barriers to our goal of financial wellness through public education on audio, visual, online, and on-air channels with resource materials in both official and local country languages,” the foundation has indicated.
As projected by the UN, the Covid-19 pandemic is likely to present a situation where nearly 30 million more people could fall into poverty.
The International Monetary Fund (IMF) has also estimated that the economic impact of the virus will be a global recession like the levels seen in the financial crises of 2008 that is, a 2.5% contraction and at best a no growth in 2020.
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