An economic indicator is a statistic that represents an economic activity to establish the health of an economy and can also be used to predict future investment possibilities. Economic indicators provide a composite view of economic performance. A few of such are inflation rate, policy rate, and GDP growth rate.

GDP Growth Rate

GDP is the value of everything produced within a country over a specified period of time. GDP growth rate is the measure of economic growth referencing the GDP of an economy. A growing economy may signal a boost in economic activities and thus a healthy economy which may mean the availability of superior investment prospects.

Policy Rate

The policy rate is the rate at which Central Banks (Federal Reserves) lend to domestic banks. Central Banks expand the economy by reducing the policy rate (i.e. reducing the cost of funds). Policy rate signals investment prospect as regards expectation about inflation and the level of interest rates

Inflation

Inflation is the rise in the general level of prices of goods and services over a period of time, thus reducing the purchasing power of money. Inflation may be a result of more money chasing fewer goods or high costs of production which is factored in the price of goods. It is therefore prudent to consider an investment with a future value that compensates for inflation.

Careful consideration of these and other indicators can help make an informed decision regarding the economy as well as investment prospects.

1. What is FLICA?

FLICA is an acronym for Financial Literacy for Coronavirus Alleviation. FLICA is a financial education programme by Financial Literacy Foundation (FLF) Africa for African businesses and workers (formal and informal) on how to manage and overcome the economic stress and financial hardship occasioned by the Covid-19 pandemic.

2. Which Countries Is FLICA currently accessible?

FLICA is currently rolled out in all 46 countries in sub-Saharan Africa and aims to achieve financial wellness for 8 out of every 10 individuals by 2030 through financial literacy.

3. How does the FLICA programme work?

FLICA’s approach is called “IES”. To Inform, Engage and Support (IES) African workers and Entrepreneurs through practical financial education (in Banking, Pensions, Investments, Insurance) to build their financial awareness and encourage informed money decisions for financial wellness.

4. Can Institutions/Organizations/Brands/Agencies/Individuals partner FLICA?

FLICA partners with individual and institutional stakeholders such as donor agencies, governments, media, regulatory bodies, community service, academia, industry and professional bodies in achieving financial wellness for all.

5. How do I contact the FLICA Team?

There are 3 major ways to contact the programme team globally;
Electronic Mail: Send enquiry mails to [email protected]
WhatsApp: Send enquiry audios to + 233 20 19 111 91
Text Message: Send text messages to +233 20 19 111 91

6. How much does it cost to sign up for FLICA?

Accessing the FLICA programme costs nothing in all the 46 Countries in sub-Saharan Africa. Just reach out to the Global HQ team and they will assist you with specific country intervention.

7. How do I join the FLICA programme as a Volunteer?

There are two kinds of volunteers on this programme; Country Representatives and Regional/County/District Representatives. Country Representatives are the lead volunteers in the Countries of operation where the programme is being rolled out. Regional/County/District Representatives are the support team who work with the Country Reps to drive the programme. Request to be a volunteer should be sent to [email protected] with the mail title; Volunteer + Country Name(for Country Reps) or Volunteer + Region/County/District Name (for supporting volunteers).

#FLICA for Africa…. financial wellness for all!