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Journal articles on the topic 'Financial literacy – Africa'

Author: Grafiati

Published: 30 June 2021

Last updated: 29 July 2025

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1

Amana, Sarah, and Dr Alex Tamunomiegbam. "Bridging the Financial Knowledge Gap: Innovative Approaches to Financial Literacy in Africa." American Journal of Finance 10, no. 3 (2024): 24–42. http://dx.doi.org/10.47672/ajf.2280.

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Purpose: This study seeks to examine the importance of financial literacy, the current state of financial literacy in Africa, barriers to financial literacy on the continent, and innovative approaches to financial literacy. The study further explores how the UK's Money Advice Service and Singapore's National Financial Literacy Programme can be leveraged to bridge the financial knowledge gap in African countries such as Nigeria, Kenya, South Africa, and Ghana. Case studies from these countries highlight the impact of integrating financial education into national curricula, community-based progr

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Abubakar, Habib Auwal. "Entrepreneurship development and financial literacy in Africa." World Journal of Entrepreneurship, Management and Sustainable Development 11, no. 4 (2015): 281–94. http://dx.doi.org/10.1108/wjemsd-04-2015-0020.

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Purpose – The purpose of this paper is to analyse the level of financial literacy in Africa based on previous studies and evidence from financial literacy surveys, with the aim of establishing how financial literacy impacts entrepreneurship development in Africa. The study specifically looks at how financial literacy affects the household behaviour regarding financial decision making, as well as the gender gap in financial literacy. As financial literacy is gaining momentum both in developed economies with sophisticated financial systems and developing countries with low levels of financial se

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Amana, Sarah. "Cultivating Financial Savvy: Educational Strategies for Lifelong Financial Wellness in African continent." International Journal of Finance 10, no. 1 (2025): 75–88. https://doi.org/10.47941/ijf.2528.

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Purpose: Africa faces significant challenges in financial literacy, with only 27% of adults in Sub-Saharan Africa possessing basic financial knowledge. This deficiency has contributed to economic inequalities, poor financial decision-making, and limited access to financial services. Rural populations, women, and marginalized communities remain disproportionately affected. Despite technological advancements, such as mobile banking, the continent continues to grapple with low literacy levels necessary for effective financial inclusion. Addressing these issues requires context-specific educationa

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Stoop, Philip, Gail Pearson, and Michelle Kelly-Louw. "Balancing Responsibilities – Financial Literacy." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 20 (May 15, 2017): 1. http://dx.doi.org/10.17159/1727-3781/2017/v20i0a1378.

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In Australia there is an obligation to promote the informed participation of financial consumers while in South Africa there is an obligation to educate consumers. The Australian obligation is concerned with the financial system as a whole while the South African obligation has generally been focused on general financial education as a tool to promote financial inclusion. There is no obligation for consumers to attain a minimum standard of literacy in credit or finance generally. Financial literacy is one among a number of strategies directed towards inducing changes in consumer behaviour. It

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Evans, Olaniyi. "The Effects of Economic and Financial Development on Financial Inclusion in Africa." Review of Economics and Development Studies 1, no. 1 (2015): 21–32. http://dx.doi.org/10.26710/reads.v1i1.113.

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This study provides empirical evidence on the effects of economic and financial development on financial inclusion in Africa, using panel FMOLS for the 2005-2014 period. The study shows that economic growth has a significant positive impact on financial inclusion, meaning that African countries with higher economic growth have more inclusive financial systems. GDP per capita has a significant positive impact on financial inclusion. That is, income is an important factor in explaining the level of ﬁnancial inclusion in Africa. It is, as well, established in this study, that although both econom

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Brownhilder Ngek, Neneh. "Performance implications of financial capital availability on the financial literacy – performance nexus in South Africa." Investment Management and Financial Innovations 13, no. 2 (2016): 354–62. http://dx.doi.org/10.21511/imfi.13(2-2).2016.10.

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The need for making optimal financial decisions is very important in small and medium enterprises (SMEs) especially as most SMEs are always financially constrained. Consequently, there has been an increasing interest from researchers to determine how well financial literacy skills can enable entrepreneurs to make decisions that result in optimal financial outcomes and possible enhance the performance and growth of their businesses. This study had as objectives to find out the impact of financial literacy on firm performance, as well as to examine the moderating effect of financial capital avai

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d, d. "Parental Financial Socialisation of Young Black African Adults in South Africa." GLOBAL BUSINESS FINANCE REVIEW 29, no. 1 (2024): 72–84. http://dx.doi.org/10.17549/gbfr.2024.29.1.72.

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Purpose: Parental financial socialisation is necessary to help young adults to effectively manage their finances and improve their financial well-being. This study examined parental financial socialisation of young black African adults by their parents in rural and low-income area in South Africa. Design/methodology/approach: Parental financial socialisation was measured through parental financial behaviour, parental financial monitoring, parental financial discussions, parental financial communications, and parental finan-cial teaching. This study adopted quantitative research approach

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A., Millen, and Stacey A. "Financial literacy in South African healthcare professionals: An unmet need in health professions education." South African Journal of Higher Education 36, no. 3 (2022): 123–42. http://dx.doi.org/10.20853/36-3-4647.

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The holistic training of healthcare professionals as a strategy to build the healthcare system has received considerable attention. As part of training a holistic workforce, it is expected the healthcare professionals be component in management and governance. Financial literacy is low globally and impacts financial decision-making and business management. Despite high levels of education, medical professionals elsewhere in the world have low financial literacy. Financial literacy levels in South African healthcare professionals are unknown. This study investigated the degree of and contributo

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N. B., Nambie,, Ocansey, E. O. N. D., and Ababio, O. K. "Economic Transformation and Financial Literacy: Impacts on Human Capital Development in Africa." African Journal of Economics and Sustainable Development 8, no. 2 (2025): 17–34. https://doi.org/10.52589/ajesd-8ofzev8h.

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This study examines the interrelationship between economic transformation and financial literacy, as well as their collective influence on the development of human capital in Africa. Utilizing a quantitative research methodology, the analysis incorporated data obtained from sources including the World Development Indicators (WDI) and the United Nations (UN), encompassing the timeframe from 2003 to 2024. The Generalized Method of Moments (GMM) was utilized as the estimation technique to mitigate potential endogeneity and to ensure the robustness of the findings. The findings underscore that alt

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Ndou, Adam. "The moderator effect of socioeconomic status on the relationship between parental financial teaching and financial literacy." International Journal of Applied Economics, Finance and Accounting 17, no. 2 (2023): 219–27. http://dx.doi.org/10.33094/ijaefa.v17i2.1110.

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The primary aim of this research was to investigate the potential moderating effect of parental Socioeconomic status (SES) on the association between parental financial education and the financial literacy of young black African individuals. Financial literacy was measured through financial knowledge, financial behaviour, financial attitudes, and financial decision-making. Parental SES was measured by parental income. A quantitative approach was adopted for this study. A self-administered questionnaire was used to collect data from young adults in South Africa. Moderated regression analysis wa

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Mvunabandi, Jean Damascene, and Bomi Cyril Nomlala. "Financial literacy status among non-government organisations’ financial managers in Kwazulu- Natal-South Africa." Asian Economic and Financial Review 14, no. 3 (2024): 173–90. http://dx.doi.org/10.55493/5002.v14i3.5013.

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This study investigated the financial literacy status among financial non-government organisations (NGOs) managers in KwaZulu-Natal. The study adopted a quantitative research strategy; a Likert scale questionnaire was used to collect data from 53 managers purposively and conveniently sampled in KwaZulu-Natal. Robustness analysis was performed using SPSS version 28 for descriptive and inferential statistics. The findings of the study revealed that all independent variables correlate between 1.000 and -.364. This study provided practical and theoretical contributions in the field by deepening an

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Sthembiso Msomi, Thabiso, and Smangele Nzama. "Financial literacy and SME loan repayments in South Africa during the COVID-19 era." Investment Management and Financial Innovations 19, no. 4 (2022): 113–21. http://dx.doi.org/10.21511/imfi.19(4).2022.09.

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Small and medium-sized enterprises (SMEs) are the primary victims of the COVID-19 outbreak because they lack adequate resources and are poorly prepared for such interruptions. For SMEs to expand, they need financial assistance such as loans and advances from financial service providers. However, they struggle to repay these loans and advances because they are small in size and do not make large turnovers, and owners lack adequate financial literacy. This study aims to investigate the relationship between financial literacy and loan repayment of SMEs. The study followed a positivist paradigm, a

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Kojo Oseifuah, Emmanuel. "Financial literacy and youth entrepreneurship in South Africa." African Journal of Economic and Management Studies 1, no. 2 (2010): 164–82. http://dx.doi.org/10.1108/20400701011073473.

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Fatoki, Olawale. "Access to Finance and Performance of Small Firms in South Africa: the Moderating Effect of Financial Literacy." WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS 18 (January 5, 2021): 78–87. http://dx.doi.org/10.37394/23207.2021.18.9.

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The failure rate of small medium and micro enterprises (SMMEs) is very high in SouthAfrica. One of the challenges faced by SMMEs is inaccessibility to external finance. There is ageneral low level of financial literacy amongst small business owners in South Africa leading to illinformed financial decisions. Financial literacy is an important knowledge resource for financialdecision-making but little research has focused on how financial literacy affects the performance ofSMMEs. The aim of the study was to examine if financial literacy moderates the relationship betweenaccess to finance and per

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Khumalo, Ziyanda, and Abdul Latif Alhassan. "Read, write, develop: the socio-economic impact of literacy in South Africa." International Journal of Social Economics 48, no. 8 (2021): 1105–20. http://dx.doi.org/10.1108/ijse-07-2020-0448.

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PurposeTaking motivation from South Africa's ranking of 50 out of 50 countries who participated in the Progress in International Reading Literacy Study of Grade four learners in 2016, this paper examines the social and economic outcomes of literacy in South Africa.Design/methodology/approachUsing unemployment, income and crime rates as proxies for social and economic outcomes, the effect of literacy is examined by employing the fixed- and random-effects techniques to estimate a panel data covering nine provinces in South Africa from 2008 to 2017.FindingsThe results show that literacy rate wors

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Sarpong-Danquah, Beatrice, Prince Gyimah, Kwasi Poku, and Brenda Osei-Poku. "Financial Literacy Assessment on Tertiary Students in Sub-Saharan Africa: A Ghanaian Perspective." International Journal of Accounting and Financial Reporting 8, no. 2 (2018): 76. http://dx.doi.org/10.5296/ijafr.v8i2.12928.

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The study assesses the financial literacy level among tertiary students in Sub-Saharan Africa country, Ghana. The study uses primary data through self-administered questionnaires, and employs purposive sampling to select four hundred and eighty (480) students across tertiary institutions in Ghana for data analysis. The study reaffirms that on the average, students lack financial knowledge especially on insurance (mean = 40.54 percent). However, students portray the highest level of financial literacy in savings and borrowing (mean = 52.88 percent). Also, information technology positively influ

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Karakara, Alhassan Abdul-Wakeel, Joshua Sebu, and Isaac Dasmani. "Financial literacy, financial distress and socioeconomic characteristics of individuals in Ghana." African Journal of Economic and Management Studies 13, no. 1 (2021): 29–48. http://dx.doi.org/10.1108/ajems-03-2021-0101.

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PurposePersonal financial stress-free living is desired by many, which dwells on sound financial literacy (including financial behaviour, financial knowledge and financial attitude). Many individuals do not make optimal savings and investment decisions. The realisation that these choices may well lead to low living standards has also increased economic anxiety, especially in Sub-Sahara African countries, including Ghana. Thus, this study underscores the link between financial literacy and financial distress in Ghana. It establishes whether persons that are financially literate escape financial

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Louw, Jurgens, Jaco Fouche, and Merwe Oberholzer. "Financial Literacy Needs Of South African Third-Year University Students." International Business & Economics Research Journal (IBER) 12, no. 4 (2013): 439. http://dx.doi.org/10.19030/iber.v12i4.7742.

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It is evident from the literature that financial education and financial training fail in South Africa, which results in tertiary institutions sending their students into the world with a lack of preparedness for the financial challenges that await them. The problem with this study is that before interventions can be designed, a thorough understanding of the needs of students is important. Therefore, the purpose of this case study is to evaluate the financial literacy needs of third-year students at a South African university. The research fulfills the purpose by means of a survey, where a que

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Mudzingiri, Calvin, John W. Muteba Mwamba, and Jacobus Nicolaas Keyser. "Incentivized Time Preferences, Level of Education in a Household and Financial Literacy: Laboratory Evidence." Journal of Economics and Behavioral Studies 10, no. 2(J) (2018): 103–19. http://dx.doi.org/10.22610/jebs.v10i2(j).2220.

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This study investigates the impact of financial literacy, level of education in a household and gender differences on time preferences of students at a university in South Africa. The study relies on a convenient sample of (N=85, female=48%) pursuing a financial literacy course. The study uses a questionnaire, a financial literacy test and a simple binary choice experimental game that elicited individual time discount rate to gather data. Ten percent of the participants were paid (in South African rands) for their time preference choices by way of quota random sampling. Female university stude

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Mudzingiri, Calvin, John W. Muteba Mwamba, and Jacobus Nicolaas Keyser. "Incentivized Time Preferences, Level of Education in a Household and Financial Literacy: Laboratory Evidence." Journal of Economics and Behavioral Studies 10, no. 2 (2018): 103. http://dx.doi.org/10.22610/jebs.v10i2.2220.

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This study investigates the impact of financial literacy, level of education in a household and gender differences on time preferences of students at a university in South Africa. The study relies on a convenient sample of (N=85, female=48%) pursuing a financial literacy course. The study uses a questionnaire, a financial literacy test and a simple binary choice experimental game that elicited individual time discount rate to gather data. Ten percent of the participants were paid (in South African rands) for their time preference choices by way of quota random sampling. Female university stude

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Mbukanma, Ifeanyi, and Ravinder Rena. "Significance of Financial Literacy on Personal Savings Behaviour: A study of the City of Tshwane and Mahikeng Municipality Employees." African Journal of Development Studies (formerly AFFRIKA Journal of Politics, Economics and Society) SI, no. 2 (2022): 189–206. http://dx.doi.org/10.31920/2634-3649/2022/siv2a11.

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The objective of this study was to identify the level of financial literacy among South African households and statistically ascertain the impact of financial literacy variables on household savings behaviour. Quantitative research was conducted to achieve these objectives, where data was collected from the employees of City of Tshwane and Mahikeng Municipality. A cluster analysis was employed to identify the group cluster of respondents. In addition, a Path Coefficient analysis was conducted to identify the significance of financial literacy on household savings behaviour. The study's finding

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Kotzé, Liezel, and Prof A. v. A. Smit. "Personal financial literacy and personal debt management: The potential relationship with new venture creation." Southern African Journal of Entrepreneurship and Small Business Management 1, no. 1 (2008): 35. http://dx.doi.org/10.4102/sajesbm.v1i1.11.

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<p>Prior research shows that personal savings are one of the most important financial sources for start-ups of entrepreneurial firms. The lack of personal savings and seeming shortage of financial knowledge could contribute to the low incidence of new venture creation, and the high failure rate amongst South African entrepreneurs. This paper investigates the perceptions of 286 Business Management students with a minimum of three years’ working and management experience, regarding both their financial literacy and their need and desire for financial education. The outcomes of the study sh

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Suri, Amjad Khan, and Sonal Purohit. "An Analysis of Personal Financial Literacy among Expatriates in the United Arab Emirates." Contemporary Review of the Middle East 4, no. 3 (2017): 278–96. http://dx.doi.org/10.1177/2347798917711073.

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This study investigates 389 expatriates in the UAE to examine their financial literacy level, relationship between the financial literacy and demographic characteristics. A questionnaire was used to study the financial literacy of expatriates from Asia, Africa, Europe, and North America. The findings reveal that the financial literacy of expatriates is low, with an average answering only 52 per cent of the questions correctly. The low level of knowledge would limit their ability to make informed decisions. The study finds age, marital status, gender, country of origin, income, experience, educ

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Amana, Sarah. "Financial Education in the 21st Century in African continent: Challenges and Opportunities." International Journal of Finance 10, no. 2 (2025): 1–12. https://doi.org/10.47941/ijf.2529.

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Purpose: Financial education is increasingly recognized as a critical life skill in the 21st century, given the complexity of modern financial systems and the necessity for individuals to make informed decisions regarding savings, investments, and debt management. This paper examines the challenges and opportunities associated with financial education, highlighting the role of technology, policy frameworks, and behavioral economics in shaping financial literacy outcomes. It also discusses the implications of financial education on individual well-being and economic stability. Furthermore, thro

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Akrofi, Kwaku Sarbeng-Adjebeng, Evans O. N. D. Ocansey, and Felix Oppong Asamoah. "The Role of Financial Literacy in Enhancing the Impact of Financial Inclusion on Economic Growth Among Sub-Saharan Africa Countries." Archives of Business Research 13, no. 04 (2025): 140–58. https://doi.org/10.14738/abr.1304.18701.

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This study investigates the role of financial literacy in shaping the relationship between financial inclusion and economic growth across 49 Sub-Saharan African (SSA) countries over the period 2003 to 2023. The primary objective is to evaluate whether financial literacy enhances the impact of financial inclusion on economic performance. Specifically, the study examines three dimensions: the direct effect of financial inclusion on growth, the moderating influence of financial literacy, and the direct contribution of financial literacy to economic expansion. Employing a quantitative research des

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Fatoki, Olawale. "The Financial Literacy of Micro Entrepreneurs in South Africa." Journal of Social Sciences 40, no. 2 (2014): 151–58. http://dx.doi.org/10.1080/09718923.2014.11893311.

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Danladi, Sagir, M. S. V. Prasad, Umar Muhammad Modibbo, Seyedeh Asra Ahmadi, and Peiman Ghasemi. "Attaining Sustainable Development Goals through Financial Inclusion: Exploring Collaborative Approaches to Fintech Adoption in Developing Economies." Sustainability 15, no. 17 (2023): 13039. http://dx.doi.org/10.3390/su151713039.

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This study proposes a multi-stakeholder framework to enhance fintech use in Africa, aiming to improve financial inclusion and achieve the Sustainable Development Goals. This article analyzes past research and frameworks built to help stakeholders in developing nations adopt fintech, some of which have been tested in African states with limited success. The study recommends prioritizing national ownership, creating an enabling environment for private sector investment, partnering with multilateral development banks and other stakeholders, fostering innovation and digital literacy, and focusing

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Preez, Michael du, and SJ Ferreira-Schenk. "Demographic and Sociocultural Determinants of Financial Literacy in South Africa." International Journal of Economics and Financial Issues 14, no. 2 (2024): 111–19. http://dx.doi.org/10.32479/ijefi.15441.

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Financial literacy is rapidly becoming more important as financial markets continue to evolve and new and more complex financial products are introduced. This study investigates the relationship between demographic and sociocultural variables and the level of financial literacy of individual investors in South Africa. This study is significant as it provides policymakers with target areas to provide incentives towards financial education programmes. Secondary data were obtained from a private domain where a private investment company collected primary data using an electronic quantitative surv

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Ndou, Adam, and Sam Ngwenya. "AN ANALYSIS OF PERSONAL FINANCIAL LITERACY AMONG ADULTS IN VHEMBE DISTRICT, A RURAL MUNICIPALITY IN SOUTH AFRICA." Eurasian Journal of Economics and Finance 9, no. 1 (2021): 55–66. http://dx.doi.org/10.15604/ejef.2021.09.01.005.

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Consumers in rural and low-income areas are the most financially vulnerable and are facing challenges with their finances and depend mostly on unsecured loans to finance their daily expenses. This has been exacerbated by global financial crises, which left many consumers in financial strains. The purpose of this paper is to measure the level of financial literacy focusing on the areas of day-to-day money management, financial planning, choosing appropriate financial services and products, and financial knowledge and understanding. The quantitative research approach was used to collect primary

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Bashiru, Shani, Alhassan Bunyaminu, Ibrahim Nandom Yakubu, and Mamdouh Abdulaziz Saleh Al-Faryan. "Drivers of Financial Inclusion: Insights from Sub-Saharan Africa." Economies 11, no. 5 (2023): 146. http://dx.doi.org/10.3390/economies11050146.

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Financial inclusion has garnered global attention due to the detrimental effect that financial exclusion has on tackling socioeconomic challenges such as poverty. Using a dynamic panel approach, our study examines the drivers of financial inclusion in the context of Sub-Saharan Africa (SSA) over the period 2000 to 2017. We discover that financial globalization and literacy rates positively and significantly drive financial inclusion. We also find that rural population growth has a profound adverse impact on financial inclusion. The study further reveals that bank profitability, bank stability,

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Nkwinika, Eugine, and Olawale Olufemi Akinrinde. "An investigation into the financial challenges affecting the success of entrepreneurs in South Africa." Technology audit and production reserves 6, no. 4(74) (2023): 36–44. http://dx.doi.org/10.15587/2706-5448.2023.292555.

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The object of this study is the financial difficulties that impacted the success of business owners in Hatfield, Gauteng province, South Africa. Compared to a global failure rate of 50 %, five out of every seven entrepreneurs in Hatfield, South Africa fail during the first year of operation. This study aimed at looking into the relationship between entrepreneur failure and financial literacy. The methodology employed in this study is interpretive philosophy-based qualitative research. An ethnographic research technique was also used to analyze the current economic condition of business owners

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Mvunabandi, Jean Damascene. "THE ROLE OF FINANCIAL LITERACY IN IMPROVING THE LEVEL OF FINANCIAL KNOWLEDGE, FINANCIAL SKILLS AND RESPONSIBILITIES AMONG NON-GOVERNMENT ORGANISATIONS FINANCIAL MANAGERS IN KWAZULU-NATAL." Journal of Financial Studies 9, Special (2024): 288–307. http://dx.doi.org/10.55654/jfs.2024.9.sp.19.

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The lack of empirical evidence on key drivers of financial illiteracy among financial managers within non-governmental organisations (NGOs) sector can be the trigger of the current rate of NGOs collapsing in South Africa. Using a quantitative research strategy, this study investigated the role of financial literacy in improving the level of financial knowledge, financial skills and financial responsibility among 53 NGOs finance staff who were purposively and conveniently sampled. The respondents comprise financial managers, accountants, and senior managers and project managers. Data generated

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MVUNABANDI, jean Damascene, and Lawrence GADZIKWA. "A COGNITIVE ANALYSIS OF CONSUMER LITERACY TRAINING AND FINANCIAL CAPABILITY IMPROVEMENT AMONG SOUTH AFRICANS: A CROSS-SECTIONAL STUDY." Oradea Journal of Business and Economics 9, no. 1 (2024): 44–62. http://dx.doi.org/10.47535/1991ojbe181.

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By using quantitative and descriptive research approach via a cognitive analysis, this article investigated the influence of consumer literacy training as a tool to improve financial capability among South Africans. Data was gathered from 10300 consumer literacy trainees from Gauteng and Mpumalanga provinces of South Africa and purposively and conveniently sampled. The use of pre- and post-test questionnaire surveys, employing a Likert scale, was identified as crucial for gathering data on cognitive improvement. The collected data underwent analysis through descriptive statistics and regressio

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Ndou, Adam. "Exploring the moderating role of parental income on the link between parental financial communication and financial literacy of young adults." International Journal of Research in Business and Social Science (2147- 4478) 12, no. 7 (2023): 292–302. http://dx.doi.org/10.20525/ijrbs.v12i7.2677.

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The moderating effect of parental income on parental financial communication and financial literacy is increasingly becoming important. The objective of this study was to determine whether the relationship between parental financial communication of young adults and their financial literacy is moderated by parental income. Financial literacy was measured through financial knowledge, financial behaviour, financial attitudes, and financial decision-making. Quantitative research approach was adopted for this study. Self-administered questionnaire was used to collect data among young adults in Sou

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j, j. "The Interplay of Parental Financial Behaviour and Financial Literacy and The Moderating Effects of Parental Income." GLOBAL BUSINESS FINANCE REVIEW 28, no. 6 (2023): 145–58. http://dx.doi.org/10.17549/gbfr.2023.28.6.145.

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Purpose: The moderating effect of parental income on parental financial behaviour and financial literacy is increasingly becoming important. The objective of this study was to determine whether the relationship between parental financial behaviour and financial literacy of young adults is moderated by parental income. Design/methodology/approach: Financial literacy was measured through financial knowledge, financial behaviour, financial attitudes, and financial decision-making. Quantitative research approach was adopted for this study. Self-administered questionnaire was used to collect

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Minchichova, V. S., and M. P. Petrichenko. "INSTRUMENTS AND APPROACHES TO IMPROVING FINANCIAL LITERACY AND FINANCIAL INCLUSION IN THE BRICS COUNTRIES." Вестник Института экономики Российской академии наук, no. 4 (2024): 159–74. http://dx.doi.org/10.52180/2073-6487_2024_4_159_174.

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The article presents the results of the analysis of the approaches to ensuring financial literacy and financial inclusion in the 2020s and the tools for its implementation in the five “old” BRICS countries. The focus of the efforts of such states as Brazil, China, and India on financial inclusion has been determined, while for the Republic of South Africa the basic financial skills of the population for the functioning of financial markets and the capital market are primary, and Russia, in turn, declares its goal is not only to instill the skills of correct and reasonable financial behavior, b

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Ndungu, John. "Nexus Between Financial Inclusion and Inclusive Growth, The East Africa Case Study." African Journal of Economics and Sustainable Development 6, no. 4 (2023): 98–113. http://dx.doi.org/10.52589/ajesd-w11m8zde.

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This article empirically investigates the quantitative relationship between financial inclusion and inclusive growth in the East Africa Region. The study employs Driscoll and Kraal's augmented fixed effects estimation technique to analyze data from 2011 to 2021 for five Eastern African Countries. The results show that inclusive growth is positively impacted by financial inclusion. In terms of usage of financial services by gender, on average, a percentage increase in female account ownership and male account ownership will lead to a 0.025% and 0.024% increase in inclusive growth, respectively.

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Ndou, Adam. "Parental Financial Socialisation and Financial Knowledge: A Structural Equation Modelling Analysis." International Journal of Business and Economic Sciences Applied Research 16, no. 1 (2023): 27–39. http://dx.doi.org/10.25103/ijbesar.161.03.

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Purpose: The main aim of the study was to investigate the impact of parental financial socialisation on financial knowledge of young black African adults in rural and low-income area in South Africa. This study was guided by family financial socialisation theory which is cognisant of the various family characteristics, such as family size and socioeconomic status, as predictors of financial outcome through their association with family socialisation process. Design/methodology/approach: The study used quantitative approach and survey design. Primary data on parental financial socialisation was

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Zuhair, Segu, Guneratne Wickremasinghe, and Riccardo Natoli. "Migrants and self-reported financial literacy." International Journal of Social Economics 42, no. 4 (2015): 368–86. http://dx.doi.org/10.1108/ijse-09-2013-0203.

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Purpose – The issue of migrant financial literacy remains largely unresolved despite the increasing focus on financial literacy in general. The purpose of this paper is to provide a migrant-based approach to provide a snapshot of the self-reported levels of financial literacy specifically for a group of newly arrived culturally and linguistically diverse (CALD) migrants. Design/methodology/approach – A questionnaire is employed to explore the financial literacy of selected migrant groups representing the regions of Africa, Asia and Europe. Findings – The findings reveal that: migrants are eage

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Dlungwane, Sphume, and Bomi Cyril Nomlala. "Financial literacy in SMEs: a study of knowledge and practices in Umgungundlovu District, Kwa-Zulu Natal, South Africa." International Journal of Research in Business and Social Science (2147- 4478) 14, no. 3 (2025): 139–50. https://doi.org/10.20525/ijrbs.v14i3.3760.

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Financial literacy is a critical factor that significantly impacts the success and achievement of small and medium enterprises' (SMEs) objectives. Unfortunately, many SMEs struggle with inadequate financial literacy, which hinders their ability to make informed decisions, manage resources effectively and drive growth. This knowledge gap can lead to poor financial planning, inefficient resource allocation and a lack of resilience, ultimately threatening the long-term sustainability of these businesses. By prioritising financial literacy, SMEs can enhance their capacity to develop realistic fina

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Nwangele, Chigozie Regina, Ademola Adewuyi, Tolulope Joyce Oladuji, and Ayodeji Ajuwon. "A Model for Scalable Financial Systems in Africa: Integrating AI and Automation in Financial Services." International Journal of Social Science Exceptional Research 2, no. 2 (2023): 70–87. https://doi.org/10.54660/ijsser.2023.2.2.70-87.

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The financial landscape in Africa is undergoing rapid transformation driven by increasing digital adoption, regulatory evolution, and a surge in demand for accessible financial services. However, scalability, operational inefficiencies, and limited infrastructure remain significant challenges. This paper proposes a comprehensive model for scalable financial systems in Africa by integrating Artificial Intelligence (AI) and automation technologies. The model focuses on enhancing financial inclusion, optimizing operational processes, reducing costs, and increasing system responsiveness and resili

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Fatoki, Olawale. "The Financial Literacy of Non-business University Students in South Africa." International Journal of Educational Sciences 7, no. 2 (2014): 261–67. http://dx.doi.org/10.1080/09751122.2014.11890188.

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Paliwal, Kuldip. "Enhancing Financial Inclusion and Financial Literacy for Small and Medium Enterprises (SMEs) in Zambia: Challenges, Opportunities and Strategies for Growth." Indonesian Journal of Islamic Economics and Finance 5, no. 1 (2025): 29–50. https://doi.org/10.37680/ijief.v5i1.6908.

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The study aims to assess the range of FI among SME managers. Financial Inclusion (FI) ensures that every individual, especially the marginalized, has adequate access to financial services. The main objective of this study is to analyze the extent of SME managers’ access to financial schemes and policies in Zambia, Africa. The study describes the budget provided by the Zambian government for SMEs, which will help in examining the level of financial literacy (FL) of SME managers regarding budgeting. Despite their potential, SMEs face many challenges, including limited access to finance, inadequa

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Rousseau, G. G., and D. JL Venter. "Financial insight and behaviour of household consumers in Port Elizabeth." Southern African Business Review 20, no. 1 (2019): 236–58. http://dx.doi.org/10.25159/1998-8125/6052.

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Financial literacy is a crucial factor affecting individuals, households, financial institutions and the broader economy of South Africa (Oseifuah 2012: 23–24). Lack of financial literacy has been cited by various commentators (Brink 2011: 3, Schüssler 2014: 1–2; Dempsey 2015: 1–3) as the main reason for poor saving rates, increasing consumer debt and inadequate retirement planning among South Africans. The purpose of this study was to investigate the financial insight and behaviour of household consumers in Port Elizabeth. Economists have urged South Africans to start living within their mean

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ChE, Bonokai George B. Gould,. "The Role of Consumer Empowerment and Its Comparison in Financial Inclusion in the Global South." Asian Journal of Economics, Business and Accounting 24, no. 12 (2024): 369–83. https://doi.org/10.9734/ajeba/2024/v24i121615.

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This research examines the role of consumer empowerment in advancing financial inclusion across the Global South, focusing on Africa, Latin America, and Asia. The study aims to understand how empowering consumers through economic literacy, protection, and equitable access facilitates meaningful participation in formal financial systems. It employs a qualitative analysis of case studies from Kenya, Bangladesh, Brazil, South Africa, Liberia and India, combined with a review of relevant policy frameworks and innovations in digital financial services. Findings reveal that consumer empowerment sign

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Makina, Daniel. "Introduction to the financial services in Africa special issue." African Journal of Economic and Management Studies 8, no. 1 (2017): 2–7. http://dx.doi.org/10.1108/ajems-03-2017-149.

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Purpose The purpose of this paper is to explore the landscape of financial services in Africa through the prism of a selection of research papers. Design/methodology/approach This is a review of literature that focusses on access to financial services (i.e. financial inclusion) and empirical findings from research papers in this issue of the journal. Findings The landscape of financial services in Africa is as heterogeneous as the countries comprising the continent. Common features include low levels of financial inclusion, low financial literacy, constrained access to credit, costly credit wh

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Manasseh, Charles O., Chine Sp Logan, and Kenechukwu K. "Examining Financial Inclusion, Performance Management and Economic Prosperity in Africa." Journal of Management World 2025, no. 3 (2025): 218–32. https://doi.org/10.53935/jomw.v2024i4.1114.

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This study examines the nexus between financial inclusion, financial performance and economic prosperity in 54 selected African countries from 2000 to 2020. In order to carry out investigation, if financial inclusion and financial performance influence economic prosperity in Africa, we employed number of registered mobile accounts per 100,000 adults (NRMA), number of agent mobile money outlets per 100,000 adults (NAMO), digital card ownership (DCO), and financial literacy (FINLIT) as measures of financial inclusion; return on assets (ROA); return on equity (ROE) and gross domestic product defl

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Kiconco, Rebecca I., Gerrit Rooks, Giacomo Solano, and Uwe Matzat. "A skills perspective on the adoption and use of mobile money services in Uganda." Information Development 35, no. 5 (2018): 724–38. http://dx.doi.org/10.1177/0266666918788908.

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Adoption rates of mobile financial services within sub-Saharan Africa still appear to be below par. The 2016 Groupe Spéciale Mobile Association report shows that over 60 per cent of the adult population in sub- Saharan Africa do not use mobile financial services. We investigate how cognitive resources, namely, mobile phone skills and English literacy, influence the use of mobile financial services. We test our hypotheses using a sample of 208 individuals from an urban location in Central Uganda. We measure actual mobile phone skill using a newly developed scale. The results show that a margina

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Ndou, Adam. "The relationship between demographic factors and financial literacy." International Journal of Research in Business and Social Science (2147- 4478) 12, no. 1 (2023): 155–64. http://dx.doi.org/10.20525/ijrbs.v12i1.2298.

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Recently, demographic factors that influence financial literacy have become increasingly important for policymakers than ever before. The primary purpose of this study was to establish the relationship between demographic factors and financial literacy among adults in a rural and low-income areas of South Africa. The objectives were to determine which gender uses a budget, which age cohort keeps copies of financial documents, which category of education level is saving for retirement, and the correlation between education level and saving for retirement. Descriptive statistics and correlation

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Tanaya, Das, and Das Sulagna. "Impact of Financial Literacy on Investment Behaviour of Millennial in Developing Countries." Management Journal for Advanced Research 5, no. 2 (2025): 77–82. https://doi.org/10.5281/zenodo.15494185.

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This study has focused on the impact of financial literacy on the investment behaviour of the millennials in developing countries. As economies evolve and grow more complex, the requirement of the financial knowledge has become increasingly significant, especially for the younger generation. This research study has therefore identified how millennials in the developing countries often make some poor investment decisions influenced by the behavioural biases and a lack of financial education. Unlike other individuals in the developed countries who demonstrated higher levels of the financial awar

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