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1
Abubakar, Habib Auwal. „Entrepreneurship development and financial literacy in Africa“. World Journal of Entrepreneurship, Management and Sustainable Development 11, Nr. 4 (12.10.2015): 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 services, this research seeks to establish a formal relationship between financial literacy and access to finance and what impact both have for developing an entrepreneurship society in Africa. It also focuses on the relationship between financial decision making and gender as well as access to finance with the aim of carefully examining the implications on entrepreneurship development. Design/methodology/approach – To attain the above objective, the study employed a mixed methodology research design where both quantitative and qualitative methods were used. A survey method on financial literacy, conducted by: (Finscope, OECD) was thoroughly analysed in addition to previous work on entrepreneurship development, financial literacy, access to finance and poverty reduction in Africa. Findings – The results show that the difficulties in access to finance, access to market, policy support and entrepreneurship culture are the main problems and constraints on entrepreneurship development in Africa which has a very strong implication for financial literacy on the continent particularly on micro, small and medium enterprises. Other important problems include unfavorable investment climate, absence of entrepreneurship training programmes, unfriendly investment business environment, gender gap and lack of value chain in the entrepreneurship ecosystem. Research limitations/implications – The paper is limited to the established survey and mainly concentrates on Africa. Practical implications – African governments and other development partners should re-evaluate their intervention programmes to strengthen financial literacy skills while simultaneously supporting entrepreneurship development by promoting an entrepreneurship culture through the right policy that will actively stimulate the development of entrepreneurs that will contribute to entrepreneurship ecosystems and ultimately enhance Africa’s economic development. Originality/value – This paper aims at enhancing understanding of entrepreneurship development and financial literacy in Africa and will help policy makers and researcher fill the missing gap between financial literacy and entrepreneurship education. The recommendations made could significantly boost entrepreneurship activities as well as enhance financial literacy skills in the region, which can as well help increase access to finance on the continent.
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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, Nr. 2 (14.07.2016): 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 availability on the financial literacy – performance relationship, amongst SME in the Free State province of South Africa. The results showed that on average SME have low levels of financial literacy and financial capital availability. It was also observed that financial literacy positively influenced SME performance, and that the relationship is positively moderated by financial capital availability. It is, therefore, necessary for SME owners to develop financial literacy skills as an essential part of entrepreneurial activities. Likewise, since businesses rely on financial capital to invest, develop and grow, policy makers should put in place measures on how to bridge the access to finance gap, and, thus, ensure that entrepreneurs are relieved from financing constraints
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Stoop, Philip, Gail Pearson und Michelle Kelly-Louw. „Balancing Responsibilities – Financial Literacy“. Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 20 (15.05.2017): 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 sits between the old regulatory model which relies on disclosure of information for effective and rational decision-making and a newer regulatory model which takes into account individuals' perceptions and behavioural biases and may seek to accommodate for these by imposing obligations on financial services providers beyond the mere disclosure of information. Financial literacy is generally the ability to understand how money works, how a person can earn money or make it more. It specifically refers to the set of skills and knowledge that allows people to make informed and effective decisions with all of their financial resources. This article discusses Australian and South African legal obligations and social responsibilities aimed at promoting the financial literacy of consumers.
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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, Nr. 1 (30.06.2015): 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 economic and financial development promote financial inclusion, though the effects of economic development are much stronger. Also, inflation is negatively linked to financial inclusion, and as well insignificant across all specifications. Deposit interest rate is positively linked to financial inclusion, though insignificant. The low deposit interest rates in African countries do not encourage inclusive financial systems. Population, though positive, is insignificant. Internet has positive significant impact on financial inclusion, meaning that internet access is indispensable in a fast-moving and digital African economy. Literacy is also statistically significant, meaning that adult literacy is an important factor in explaining the level of financial inclusion in Africa. As well, Islamic banking presence and activity are associated with higher financial inclusion.
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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 (05.01.2021): 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 performance of SMMEs in South Africa. The cross-sectional survey methodwas used for data collection in a quantitative study. Descriptive statistics, Pearson correlation andhierarchical regression were used for data analysis. The Cronbach’s alpha was used as a measure ofreliability. The findings indicated that the relationship between access to finance and financial literacyis significant. The findings also showed that financial literacy moderates the relationship betweenaccess to finance and performance of SMMEs. Empirically, the study added to the body of literatureon financial literacy, access to finance and performance of SMMEs. Practically, recommendations toimprove the financial literacy of SMMEs are suggested.
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Khumalo, Ziyanda, und Abdul Latif Alhassan. „Read, write, develop: the socio-economic impact of literacy in South Africa“. International Journal of Social Economics 48, Nr. 8 (29.04.2021): 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 worsens unemployment but improves crime rate and income per capita across South African provinces.Practical implicationsPolicymakers need to consider an expanded view of literacy by extending investments to cover financial and technology literacy in addition to functional literacy to fully maximise the benefits of education.Originality/valueTo the authors’ best knowledge, this is the first empirical assessment of literacy outcomes in South Africa.
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Louw, Jurgens, Jaco Fouche und Merwe Oberholzer. „Financial Literacy Needs Of South African Third-Year University Students“. International Business & Economics Research Journal (IBER) 12, Nr. 4 (27.03.2013): 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 questionnaire was developed to first evaluate the socio-economic environment and exposure to the world of finance and then the financial literacy of 424 students who participated in this study. The contribution of this study is, first, that with the existing literature as a basis and a cluster analysis of the results, a new suitable questionnaire to evaluate financial literacy was developed for the South African context. Furthermore, the study uncovered the areas where the respondents, who are mainly financially supported by their parents, have a high level of literacy, as well as the areas of illiteracy that need to be addressed.
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Kojo Oseifuah, Emmanuel. „Financial literacy and youth entrepreneurship in South Africa“. African Journal of Economic and Management Studies 1, Nr. 2 (Februar 2010): 164–82. http://dx.doi.org/10.1108/20400701011073473.
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Ndou, Adam, und 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, Nr. 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 data among adults in Vhembe District Municipality (VDM), a rural and low-income municipality in South Africa. Primary data were analyzed through descriptive statistics. The results indicate that the level of financial literacy among adults in VDM is low at 38.73%. The low levels of financial literacy have serious consequences for an adult’s personal financial management skills and lead to their inability to make correct financial decisions. It is apparent that an individual’s level of financial literacy has become important in how individuals manage their finances in today’s complicated financial world. The paper concludes by suggesting interventions that could help adults to improve their level of financial literacy, manage and sustain their financial well-being.
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Sarpong-Danquah, Beatrice, Prince Gyimah, Kwasi Poku und Brenda Osei-Poku. „Financial Literacy Assessment on Tertiary Students in Sub-Saharan Africa: A Ghanaian Perspective“. International Journal of Accounting and Financial Reporting 8, Nr. 2 (08.05.2018): 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 influences 95 percent of student’s financial literacy. We recommend that tertiary institutions should inculcate educational program on financial literacy to broaden understanding of financial issues among students. Policy makers should redesign curriculum to include financial literacy courses especially for non-business students. Finally, financial seminars and talks should be focused on teaching relevant financial concepts and the youth should be educated and encouraged to utilize digital or technological platforms to enable them gain more knowledge in finance.
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Fatoki, Olawale. „The Financial Literacy of Micro Entrepreneurs in South Africa“. Journal of Social Sciences 40, Nr. 2 (August 2014): 151–58. http://dx.doi.org/10.1080/09718923.2014.11893311.
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Mudzingiri, Calvin, John W. Muteba Mwamba und Jacobus Nicolaas Keyser. „Incentivized Time Preferences, Level of Education in a Household and Financial Literacy: Laboratory Evidence“. Journal of Economics and Behavioral Studies 10, Nr. 2(J) (19.05.2018): 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 students’ individual time discount rate was found to be on average higher than that of their male counterparts, indicating that female university students are generally impatient, especially those with low levels of financial literacy. Our results (using a Negative Binomial Regression analysis and Ordinary Least Squares regression analysis) show that time preferences of university students aresignificantly influenced by highest level of education in the household. The OLS regression model shows that financial literacy, measured using financial literacy test, significantly influence time preferences for all subjects. The study concluded that patience levels among male university students increase as financial literacy increases. Gender, income, age and family size significantly influence time preferences of university students. Highest level of education in a household, financial literacy and gender differences have a bearing on individual time preferences.
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Mudzingiri, Calvin, John W. Muteba Mwamba und Jacobus Nicolaas Keyser. „Incentivized Time Preferences, Level of Education in a Household and Financial Literacy: Laboratory Evidence“. Journal of Economics and Behavioral Studies 10, Nr. 2 (19.05.2018): 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 students’ individual time discount rate was found to be on average higher than that of their male counterparts, indicating that female university students are generally impatient, especially those with low levels of financial literacy. Our results (using a Negative Binomial Regression analysis and Ordinary Least Squares regression analysis) show that time preferences of university students aresignificantly influenced by highest level of education in the household. The OLS regression model shows that financial literacy, measured using financial literacy test, significantly influence time preferences for all subjects. The study concluded that patience levels among male university students increase as financial literacy increases. Gender, income, age and family size significantly influence time preferences of university students. Highest level of education in a household, financial literacy and gender differences have a bearing on individual time preferences.
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Kotzé, Liezel, und 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, Nr. 1 (31.12.2008): 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 show the necessity for financial education and financial literacy in South Africa. The respondents showed a lack of confidence in their money management skills and expressed a desire for more financial knowledge. It is possible that an increased level of financial literacy could lead to more entrepreneurial activity and a decrease in new venture failures.</p><p> </p><p><strong>Key words and phrases:</strong> personal financial literacy, personal debt, personal savings, personal financial management, new venture creation</p>
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Suri, Amjad Khan, und Sonal Purohit. „An Analysis of Personal Financial Literacy among Expatriates in the United Arab Emirates“. Contemporary Review of the Middle East 4, Nr. 3 (18.07.2017): 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, education, employment status, work place activity, and household situation influence financial literacy and hence calls for initiatives to improve financial literacy among expatriates and for further research in this direction.
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Zuhair, Segu, Guneratne Wickremasinghe und Riccardo Natoli. „Migrants and self-reported financial literacy“. International Journal of Social Economics 42, Nr. 4 (13.04.2015): 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 eager to seek further information to assist with their financial decision making; better access and utilisation of basic financial services seems to be an area where improvement is required; and self-reported financial literacy levels are influenced by education levels. Research limitations/implications – Although the research targets newly arrived CALD migrants, no claims can be made regarding the representation of CALD migrants as a whole. The research has implications with respect to the development of a more adequate provision of avenues for CALD migrants to utilise basic financial services. This paper provides recommendations for future research in this area. Originality/value – A migrant’s financial literacy is typically based on a “one-size-fits-all” questionnaire, which only provides a broad examination of financial literacy aspects. This study addresses this gap by undertaking a case study focused solely on newly arrived migrants.
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Fatoki, Olawale. „The Financial Literacy of Non-business University Students in South Africa“. International Journal of Educational Sciences 7, Nr. 2 (September 2014): 261–67. http://dx.doi.org/10.1080/09751122.2014.11890188.
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Makina, Daniel. „Introduction to the financial services in Africa special issue“. African Journal of Economic and Management Studies 8, Nr. 1 (13.03.2017): 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 when available, gender discrimination in account ownership, and use and inefficient foreign exchange markets. Nevertheless, there are promising innovations, especially the mobile money innovation, which have the potential to foster more inclusive financial systems. Originality/value All the papers in this volume are based on original research shedding new insights on various aspects of financial services in Africa.
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Rousseau, G. G., und D. JL Venter. „Financial insight and behaviour of household consumers in Port Elizabeth“. Southern African Business Review 20, Nr. 1 (27.03.2019): 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 means, improve their money management skills and ensure they eliminate debt, which can be viewed as the symptoms of mediocre financial insight and behaviour. Addressing these problems requires empirical evidence. A research model guided the investigation. A field survey (n = 560 consumers) was conducted in Port Elizabeth. The survey revealed six factors for financial behaviour and one for financial insight. The negative results for most factors confirmed the need for improved financial literacy of Port Elizabeth consumers. Significant relationships between demographical variables and financial behavioural factors were further observed for the sampled population. Educators and training facilitators should focus in their financial literacy programmes on financial planning, executing, vigilance, discipline, control and outsourcing personal financial services. Marketers and providers of credit should act responsibly when dealing with consumers with inadequate financial literacy.
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Chikalipah, Sydney. „What determines financial inclusion in Sub-Saharan Africa?“ African Journal of Economic and Management Studies 8, Nr. 1 (13.03.2017): 8–18. http://dx.doi.org/10.1108/ajems-01-2016-0007.
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Purpose The purpose of this paper is to investigate the determinants of financial inclusion (FI) in Sub-Saharan Africa (SSA). Design/methodology/approach The paper uses the World Bank country-level data from 20 SSA countries for the year 2014. Findings The empirical findings in this study indicate that illiteracy is the major hindrance to FI in SSA. The findings provide useful information to government agencies and international development organisations. Also, the findings can help accelerate and strengthen FI strategies among SSA countries. Research limitations/implications Some countries were excluded from the final analysis due to lack of data. Practical implications In the last two decades, there has been renewed interest in fighting financial exclusion in Africa. Therefore, this study provide evidence which clearly shows that enhancing literacy levels in a country can immensely contribute towards building the financially inclusive societies in the SSA region. Originality/value To the best of the author’s knowledge, this is the first study to empirically test the determinants of FI in SSA using the World Bank FI data set. Furthermore, this is the first attempt to estimate the determinants of FI with a combined data of SSA countries.
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Kiconco, Rebecca I., Gerrit Rooks, Giacomo Solano und Uwe Matzat. „A skills perspective on the adoption and use of mobile money services in Uganda“. Information Development 35, Nr. 5 (19.07.2018): 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 marginal increase in mobile phone skills has a strong effect on the odds of adopting mobile money, but a less strong effect on the extent to which the functionalities of the mobile money application are used. On the other hand, English literacy has no influence on both adoption and the magnitude of services individuals use.
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Molise, Habasisa. „The Relationships between Experience, Qualification and Subject Specialization and Content Knowledge Mastery of Economic and Management Sciences Teachers: A Case of Accounting Teaching“. International Journal of Learning, Teaching and Educational Research 20, Nr. 8 (30.08.2021): 36–49. http://dx.doi.org/10.26803/ijlter.20.8.3.
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This paper investigates the relationship between teaching experience, qualification, and subject specialization on the content mastery of teachers of financial literacy to Grade 9 learners. The sample consisted of 89 Grade 9 teachers of financial literacy in the Thabo Mofutsanyana education district of South Africa. Data was collected using a questionnaire that elicited biographical data and required teachers of financial literacy to answer questions on a variety of accounting topics, to diagnose the effect of teaching experience, qualification, and subject specialization on the content knowledge mastery of the teachers. The data revealed three distinct themes, namely, solving the accounting equation, understanding accounting concepts, and the connection between topics and application of accounting principles. The items of the questionnaire were clustered into three constructs: accounting equation, accounting concepts, and accounting principles and subsidiary journals. The results show that having experience of teaching the subject, having relevant qualifications, and having a minor or major subject specialization in financial literacy enhances teachers’ content knowledge and competence. This result suggests that teachers of financial literacy should have a minimum of three years of teaching experience before they teach senior classes, possess a relevant diploma or degree, and have had accounting as a subject until at least the second to the third year of their studies. In general, teachers should not be expected to teach subjects they did not specialize in, and their level of experience should be a determining factor in workload/subject allocation for teachers, especially for accounting (also known as financial literacy).
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Ohiomu, Sylvester, und Evelyn Nwamaka Ogbeide-Osaretin. „Financial Inclusion and Gender Inequality Reduction: Evidence from Sub-Saharan Africa“. Indian Economic Journal 67, Nr. 3-4 (Dezember 2019): 367–72. http://dx.doi.org/10.1177/0019466220946411.
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Reduced inequality and gender equality are parts of the sustainable development goals (SDGs) towards global development, but the financial sector appears daunted in respect of financial inclusion for these noble goals. Concerns are more on gender inequality in the area of full utilisation of financial and human resources. Hence, this study investigated the impact of financial inclusion on gender inequality in sub-Saharan Africa. The study employed the generalised method of moments (GMM) estimation method on panel data on some countries in sub-Saharan Africa. The result of the study revealed that financial inclusion substantially reduced gender inequality. Financial inclusion access was found to drive down gender inequality more than usage. Female educational levels were found to have a substantial but negative impact on gender inequality. This study recommends that there is a need for an increase in commercial bank branches to increase accessibility to financial services. The government should increase its expenditure, and this should be channelled towards financial development and higher levels of education for females to improve financial literacy.
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Snyman, Maritha. „DIE EVALUERING VAN ’N LEESBEVORDERINGSPROJEK: DIE ZOË-VOORLEESPROJEK IN DIE NOORD-KAAP“. Mousaion: South African Journal of Information Studies 32, Nr. 4 (29.09.2016): 55–74. http://dx.doi.org/10.25159/0027-2639/1653.
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In view of the dire state of literacy levels in South Africa and the fact that few literacy programmes provide research reports to evaluate best practices and effectivity, this article reports on the evaluation of a literacy project. The project, inspired by two children, is referred to as the Zoë-reading aloud project and targeted children in and around Upington in the Northern Cape, South Africa. The project was set up according to acknowledged reading promotion principles and it was structured to collect detailed data. Qualitative and quantitative data collection methods were used and a selection of methods provided reliability. The findings of the analysis of a collection of data for a period of 15 months revealed the best practices of the project. It highlights, for example, the need for financial assistance and challenges the concept of family literacy in low-literate and poor communities.
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Matewos, Kebede Refera, Kaur Dhaliwal Navkiranjit und Kaur Jasmindeep. „Financial literacy for developing countries in Africa: A review of concept, significance and research opportunities“. Journal of African Studies and Development 8, Nr. 1 (31.01.2016): 1–12. http://dx.doi.org/10.5897/jasd2015.0331.
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Shambare, Richard, und Robert Rugimbana. „Financial literacy among the educated: An exploratory study of selected university students in South Africa“. Thunderbird International Business Review 54, Nr. 4 (22.06.2012): 581–90. http://dx.doi.org/10.1002/tie.21485.
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Coetzee, Johan. „Personal or remote interaction? Banking the unbanked in South Africa“. South African Journal of Economic and Management Sciences 12, Nr. 4 (26.04.2011): 448–61. http://dx.doi.org/10.4102/sajems.v12i4.188.
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The Financial Sector Charter (FSC) requires South African retail banks to provide retail products and services to the rural-based unbanked. The challenge is deciding whether or not banking the unbanked must be pursued through personal or remote channels. This study considers the challenge facing the four largest South African retail banks. It investigated trends in servicing this market since the effective date of the Charter. It found that banks are currently using an integrated approach combining personal and remote interaction and emphasising the promotion of financial literacy. It remains to be seen whether this approach truly adds value for the unbanked. It is recommended that further research be done to establish exactly what the behavioural characteristics of the unbanked are over a period of continuous use of bank products and services.
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Olarewaju, Odunayo, und Thabiso Msomi. „Factors Affecting Small and Medium Enterprises’ Financial Sustainability in South Africa“. African Journal of Inter/Multidisciplinary Studies 3, Nr. 1 (2021): 103–17. http://dx.doi.org/10.51415/ajims.v3i1.893.
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The dwindling growth of small businesses and their rate of failure in South Africa has been traced to poor financing. Thus, the factors affecting the financial sustainability of small and medium-sized enterprises in South Africa are examined in this study. Using purposive sampling, data were collected from 310 respondents, however six were incorrectly completed. The analysis was based on data collected from 304 respondents which cut across owners and/or managers from small and medium construction, manufacturing, retail, and agricultural enterprises. A quantitative research design that falls under the positivist paradigm was used. Specifically, through a descriptive and multivariate regression analysis, it was found that financial awareness, budgeting, accounting skills, and access to finance have positive and significant effects on the financial sustainability of SMEs with all the variables, having 0.005 probability values, respectively. Out of all the variables examined, budgeting and access to finance have the largest absolute values of 0.425 and 0.373, respectively. Thus, it was concluded that workshops, training, and seminars to improve the financial literacy of small and medium enterprises should be organised. This will improve owner’s ability to deploy the accounting and budgeting skills and they will be exposed to meeting loan criteria and conditions from financial institutions. Also, adequate funds should be allocated to cater for the regular training and development of small business owners using the services of financial experts.
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Tchouassi, Gérard. „Do Economic Reforms Spur Bancarisation Rate in the CEMAC Region? Empirical Analysis“. International Journal of Economics and Finance 8, Nr. 4 (23.03.2016): 123. http://dx.doi.org/10.5539/ijef.v8n4p123.
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<p>The aim of this paper is to empirically analyze the effect of the economic reforms on the bancarisation rate in the Central Africa Economic and Monetary Community (CEMAC). Data of six countries from the sub-region from 2001 to 2011 was used in a generalized method of moment (GMM) modeling framework. The following results are obtained: Financial liberalization has facilitated the opening of bank accounts. The opening of bank accounts demand is an increasing function of Gross Domestic Product per capita. The literacy rate contributes to the improvement of financial and banking services. Public and private infrastructures promote decentralization and delocalization of the banking network to smaller cities and rural areas. Institutional reforms work best for increasing the bancarisation rate where financial and banking activities are weak. So, the economic policy to be implemented is to continue the economic and financial reforms and ameliorate the quality of the institutions in the CEMAC region.</p>
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M., Mwinyihija. „AFRICA’S RENAISSANCE AND POTENTIAL IN THE LEATHER SECTOR WITH REFLECTION TO THE GLOBAL PERFORMANCE“. Journal of Africa Leather and Leather Producuts Advances 2, Nr. 1 (06.09.2015): 1–17. http://dx.doi.org/10.15677/jallpa.2015.v2i1.11.
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Africa’s renaissance is inevitable and rapidly emerging as a reality in tandem with the continent’s continued exploration of its natural resources in a more sustained way than previously done. Currently, the clarion call is to value add, avoid plundering and involve its population through the SME’s to adapt modern methods of entrepreneurship. During the study, critical aspects that are envisaged to trigger the growth and development of Africa, included the entry of major countries of the continent into the global emerging markets such as MINT (Mexico, Indonesia, Nigeria and Turkey) and BRICS (Brazil, Russia, India, China and South Africa). For the leather sector, certain socioeconomic indicators such as the youthful participation in the value chain, ownership status, literacy levels and acquired experiences are all contributing to a vibrant sector. It was observed that these indicators if well aligned with individual member states of African Union Commission and structured than productivity and competitiveness of leather products will be attained. As such, ease of either foreign direct investment, local recapitalization and development of the SME’s could become feasible. Indeed, with the emergence of over 300 million youth at middle level income level is construed to start building on the impact of the continents purchasing power. Therefore, Africa needs to respond by address on development of ICT, develop affordable financial support to provide stimulus packages to SME’s (Small and Medium Enterprises) to transform, improve on inter and intra trade to optimize on unexplored synergies and enhance mobility of persons with in Africa as preamble to Africa’s renaissance.
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Anas Abdulrahman, Almiman, Pradikta Aris Chandra und Altamimi Raeef. „Factors Determining Female Labor Participation in Job Market in the Middle East and North Africa (MENA) Countries“. Populasi 28, Nr. 1 (09.09.2020): 44. http://dx.doi.org/10.22146/jp.59619.
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Women’s engagement in the broader social life is part of policy objectives in today’s world that most governments aim to achieve. Likewise, the issue is crucial in most Muslim majority countries, especially in the Middle East and North Africa (MENA). As the regions have characteristics of a smaller number of women’s participation in the formal labor market than many other countries, this study investigated the factors that determine women’s participation by measuring data of governance, industrial transformations, and education from 1980 to 2014. This study used robust panel data methods to calculate the interdependencies of those variables. Based on the estimation, prominent factors that have positive correlations with the participation are good governance and the transitions from agriculture to industrial and service economy. Meanwhile, financial literacy and education have limited impacts on participation.
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Mutsonziwa, Kingstone, und Ashenafi Fanta. „Over-indebtedness and its welfare effect on households“. African Journal of Economic and Management Studies 10, Nr. 2 (10.06.2019): 185–97. http://dx.doi.org/10.1108/ajems-04-2018-0105.
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Purpose Although credit plays a crucial role in modern society, the increased availability of credit is partly responsible for higher levels of debt burden and household over-indebtedness. However, despite the serious consequences of over-indebtedness on household welfare our understanding of the factors that determine over-indebtedness and the link between over-indebtedness and poverty is limited. The purpose of this paper is therefore to identify drivers of over-indebtedness at an individual level and its link with poverty. Design/methodology/approach The authors analysed the determinants of over-indebtedness and its links with poverty employing a binary logistic regression model using data on 51,359 individuals from 11 economies in the Southern Africa Development Community. Findings The results suggest that over-indebtedness is driven by, among others, lack of credit literacy, cross-borrowing and income. The results also suggest that over-indebtedness is likely to impoverish the indebted. Practical implications Policies that encourage access to financial services such as credit should be designed such that increased financial inclusion does not aggravate poverty and inequality. Originality/value The authors used a unique financial inclusion survey that reports data on financial inclusion and poverty measures to identify the determinants of over-indebtedness and its link with poverty.
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Vinodkumar, Nisa, und Hadeel Khalid AlJasser. „Financial evaluation of Tadawul All Share Index (TASI) listed stocks using Capital Asset Pricing Model“. Investment Management and Financial Innovations 17, Nr. 2 (15.05.2020): 69–75. http://dx.doi.org/10.21511/imfi.17(2).2020.06.
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The Kingdom of Saudi Arabia is strongly committed to stimulating savings culture in the local community by providing financial literacy in financial planning, investments, and budgeting. Inculcating the savings and investment behavior among the people will help materialize one of the elements of Saudi Vision 2030. Tadawul, being the most liquid stock market in the Middle East and North Africa, offers investors the ability to grow their capital with confidence through facilitating trading in different securities such as equities, debt instruments, and Exchange Traded Funds (ETFs). There is a great scope for investors to invest in the companies listed in Tadawul All Share Index (TASI) due to its strong economic fundamentals. The present study aims to apply the CAPM in Tadawul listed stocks, which will help in understanding the systematic and unsystematic risk associated with stocks, understanding their actual and theoretical return on stocks. The methodology adopted is the analysis of secondary data for all listed stocks in Tadawul using the Bloomberg terminal. The financial valuation includes elements like beta, alpha, correlation and standard deviation, expected return and actual return. The practical value obtained from the study will help investors go for undervalued stocks with lower beta, higher expected annual return, and lower systematic risks. Thus, the result shows the predicting power in KSA market and the scope for long-term investments by the investors to boost their savings and investment behavior and materialize one element of Vision 2030. AcknowledgmentThis research was funded by the Deanship of Scientific Research at Princess Nourah bint Abdulrahman University through the Fast-Track Research Funding Program.
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Emeana, Ezinne M., Liz Trenchard und Katharina Dehnen-Schmutz. „The Revolution of Mobile Phone-Enabled Services for Agricultural Development (m-Agri Services) in Africa: The Challenges for Sustainability“. Sustainability 12, Nr. 2 (08.01.2020): 485. http://dx.doi.org/10.3390/su12020485.
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The provision of information through mobile phone-enabled agricultural information services (m-Agri services) has the potential to revolutionise agriculture and significantly improve smallholder farmers’ livelihoods in Africa. Globally, the benefits of m-Agri services include facilitating farmers’ access to financial services and sourcing agricultural information about input use, practices, and market prices. There are very few published literature sources that focus on the potential benefits of m-Agri services in Africa and none of which explore their sustainability. This study, therefore, explores the evolution, provision, and sustainability of these m-Agri services in Africa. An overview of the current landscape of m-Agri services in Africa is provided and this illustrates how varied these services are in design, content, and quality. Key findings from the exploratory literature review reveal that services are highly likely to fail to achieve their intended purpose or be abandoned when implementers ignore the literacy, skills, culture, and demands of the target users. This study recommends that, to enhance the sustainability of m-Agri services, the implementers need to design the services with the users involved, carefully analyse, and understand the target environment, and design for scale and a long-term purpose. While privacy and security of users need to be ensured, the reuse or improvement of existing initiatives should be explored, and projects need to be data-driven and maintained as open source. Thus, the study concludes that policymakers can support the long-term benefit of m-Agri services by ensuring favourable policies for both users and implementers.
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J Walton, Aiden, und Kevin A. Johnston. „Exploring Perceptions of Bitcoin Adoption: The South African Virtual Community Perspective“. Interdisciplinary Journal of Information, Knowledge, and Management 13 (2018): 165–82. http://dx.doi.org/10.28945/4080.
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Aim/Purpose: This paper explored the factors (enablers and barriers) that affect Bitcoin adoption in South Africa, a Sub-Saharan country with the high potential for Bitcoin adoption. Background: In recent years, Bitcoin has seen a rapid growth as a virtual cryptocurrency throughout the world. Bitcoin is a protocol which allows value to be exchanged over the internet without a central bank or intermediary. Cryptocurrencies such as Bitcoin are technological tools that arguably can contribute to reducing transactions costs. This paper explored the factors that affect Bitcoin adoption in South Africa, a Sub-Saharan country with the high potential for Bitcoin adoption, as little is known about the factors that affect Bitcoin adoption and the barriers to adoption. Methodology: A quantitative questionnaire was distributed to South African virtual communities where Bitcoin is a topic of interest, and 237 quantitative responses were received, along with 212 open-ended comments. Contribution: This research contributes to the body of knowledge in information systems by providing insights into factors that affect Bitcoin adoption in South Africa. It raises awareness of incentives and barriers to Bitcoin adoption at a time when financial literacy is a crucial issue both in South Africa and worldwide. Findings: The results indicate that perceived benefit, attitude towards Bitcoin, subjective norm, and perceived behavioral control directly affected the participants’ intentions to use Bitcoin. Perceived benefit, usefulness, ease of use, and trust-related risk were found to indirectly affect intention to use Bitcoin. Further, it emerges that the barriers to Bitcoin adoption in South Africa consist of the complex nature of Bitcoin and its high degree of volatility. Recommendations for Practitioners: Bitcoin can contribute to reducing transactions costs, but factors that affect adoption and the barriers to adoption should be taken into consideration. These findings can inform systems and software developers to develop applications that make managing Bitcoin keys and transacting using Bitcoin less complex and more intuitive for end users. Recommendation for Researchers: Bitcoin adoption in South Africa is a topic that has not been previously researched. Researchers could research similarities or differences in the various constructs that were used in this research model. Impact on Society: South African Bitcoin users consider it as a universal currency that makes cross-border payments cheaper. A large number of refugees and workers in South Africa make regular payments across borders. Bitcoin could reduce the costs of these transfers. Future Research: Future research could explore Bitcoin (and other cryptocurrencies) adoption in other developing countries. Researchers could look at factors that influence cryptocurrency adoption in general. The factors affecting adoption of other cryptocurrencies can be compared to the results of this study, and similarities and differences can thus be identified.
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Dibete, Kgabo Johannes, und Onoriode Collins Potokri. „Policy compliance of SGB members on their financial management roles in selected no-fee schools in Limpopo province of South Africa“. International Journal of Educational Management 32, Nr. 5 (11.06.2018): 799–812. http://dx.doi.org/10.1108/ijem-03-2017-0058.
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Purpose The purpose of this paper is to investigate the perceptions of school governing bodies (SGBs) members’ role in financial management in no-fee schools so as to understand their compliance with policy frameworks when managing school finances. No-fee schools are schools in which the learners cannot be levied fees because of the poor socio-economic background of their parents, and are located in Quintiles 1-3 according to National Norms and Standards for School Funding Policy. Design/methodology/approach A qualitative research design/approach within the interpretive paradigm was adopted for the study. A sample of 22 participants from six selected no-fee schools was purposefully selected to participate in the study. The participants were principals, SGB chairpersons, SGB treasurers and finance officers. Data were collected through interviews and document analyses and were qualitatively analysed through coding and categorisation. Findings The findings reveal that the perceptions, experience and understanding of SGB members on their financial management roles differ. They lacked the proper knowledge to manage their funds effectively. This lack of knowledge is mainly because of the members’ literacy level and limited training. Originality/value This study offers a novel empirical and theoretical perspective on finance of no-fee schools and SGBs. This research subsequently recommends that rigorous training of chairpersons and treasurers should be done by department officials located in the finance section. Further, training should be conducted in a language that would be understood by the intended recipients.
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Mafukata, Mavhungu Abel. „Skills-based constraints and complexities affecting small-scale communal cattle farmer entrepreneurs in Vhembe District“. International Journal of Research in Business and Social Science (2147-4478) 4, Nr. 3 (22.07.2015): 11–27. http://dx.doi.org/10.20525/ijrbs.v4i3.19.
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This paper investigates constraints and complexities affecting entrepreneurial and Agri-business small-scale communal cattle farming success and sustainability in the Vhembe District of Limpopo Province, South Africa. The respondent entrepreneur farmers were randomly selected (n=55) amongst 183 other farmers for primary data collection. A semi-structured cross-language (English-Tshivenda) questionnaire was employed to gather the data. Key Informant Interviews (KIIs) and Focus Group Discussions (FGDs) were also employed. The results of this paper revealed that the entrepreneur farmers’ formal school educational levels and basic literacy skills in addition; subtraction; multiplication and division were reasonably higher while technological skills in farm risk management and production, and managerial competence in business financial skills; budgeting and marketing were low amongst the farmers. Government extension service could be employed to improve some of these deficient skills through skills training programmes for the farmers. Institutions of higher learning such as the University of Venda and Madzivhandila Agricultural College could be utilized for the trainings.
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Strümpher, J., R. M. Van Rooyen, K. Topper, L. M. C. Andersson und I. Schierenback. „BARRIERS TO ACCESSING MENTAL HEALTH CARE IN THE EASTERN CAPE PROVINCE OF SOUTH AFRICA“. Africa Journal of Nursing and Midwifery 16, Nr. 1 (10.09.2016): 45–59. http://dx.doi.org/10.25159/2520-5293/1487.
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The aim of this study was to explore and describe the perceptions of professional nurses concerning barriers to care for people with mental illness in the Eastern Cape Province, South Africa. The study was based on a qualitative, explorative and descriptive design. A total of nine professional nurses working in primary, secondary and tertiary health care facilities were purposively selected. Unstructured interviews were conducted to collect data. Participants’ responses were captured on an audio recorder and later transcribed verbatim.Participants’ responses were then analysed thematically. Two main themes and their related sub-themes were identified. The first theme concerns the perceptions of professional nurses regarding the societal barriers that may hinder people with mental illness from accessing and utilising mental health services. These barriers include socioeconomic hardships, lack of knowledge and insight, lack of family support, embedded cultural beliefs and practices and stigma. The second theme highlights the barriers that professional nurses perceive within the health care system that influence access and utilisation of mental health services. These barriers include inadequate support from stakeholders and leaders in the mental health sector and lack of financial, human and infrastructure resources. Professional nurses made recommendations to improve mental health care. Those of high priority included enhanced mental health literacy among members of the public and a need for mental health stakeholders and leaders to increase their support of the mental health sector in an effort to improve access to mental health care.
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OGADA, DARCY L., und PAUL MURIITHI KIBUTHU. „Conserving Mackinder's eagle owls in farmlands of Kenya: assessing the influence of pesticide use, tourism and local knowledge of owl habits in protecting a culturally loathed species“. Environmental Conservation 35, Nr. 3 (September 2008): 252–60. http://dx.doi.org/10.1017/s0376892908005006.
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SUMMARYFarmlands can be good habitat for owls and owls can benefit farmers, but pesticide use can negatively affect owls and within many regions of Africa owls are loathed owing to beliefs that they bring misfortune or death. Since 1997, a small-scale owl tourism initiative that educates farmers about owls and benefits them financially has been operating in central Kenya. Pesticide use, farmers' beliefs and knowledge about owls, and the impacts that tourism can have on farmers' attitudes and behaviour towards owls in rural Kenya were surveyed. Agricultural pests were the most serious problem facing farmers, though only 28 % of farmers said they controlled vertebrate pests using pesticides. The insecticide carbofuran was often misused to kill vertebrate pests. Common control measures were either to ‘do nothing’ or to chase pests from farms. Farmers knew of Mackinder's eagle owls living adjacent to their farms, but 68 % said they didn't adhere to the culturally negative beliefs about owls. Knowledge of owl diet amongst farmers was high (75 %). Farmers who benefited from owl tourism were more likely to know more about owl diet and habits. Where farmers gained financial benefits from tourism or knew more about owls, they were more likely to categorize owls as ‘good’, but farmers who knew about owl diet were more likely to use pesticides or kill owl prey on their farms. Though knowledge of owls did not have a positive effect on farmers' behaviour toward owls, this was probably the result of a lack of ecological literacy rather than any deliberate antagonism toward owls. Financial rewards are very important to poor farmers, but may not result in actions that enhance species conservation unless farmers have a basic understanding of ecological processes.
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Singh, Kusum. „Financial Literacy of African American College Students: Evidence and Implications from One Historically Black Institution“. International Journal of Economics and Finance 10, Nr. 8 (24.07.2018): 204. http://dx.doi.org/10.5539/ijef.v10n8p204.
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This study examines the level and determinants of financial literacy among African American college students of a historically black college. The results from this study show that financial literacy is very low among African-American college students: less than 4% of respondents could answer all five financial literacy questions designed to test basic economics and financial concepts used in everyday lives. While determining factors that influence financial literacy of African American college students, the study finds that being in higher-class ranks and older in age have significant effects on students’ financial literacy levels. The findings of this study support the need for financial literacy education for African American college students of a historically black college to effectively promote their financial literacy levels.
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Oseifuah, Emmanuel K. „Analysis of the Level of Financial Literacy among South African Undergraduate Students“. Journal of Economics and Behavioral Studies 6, Nr. 3 (30.03.2014): 242–50. http://dx.doi.org/10.22610/jebs.v6i3.487.
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The purpose of the study was twofold: to examine the relationship between financial literacy and demographic and other socioeconomic factors of a sample of undergraduate students; and to evaluate how undergraduate students’ financial knowledge correlate with their attitude and behavior towards personal finance issues. A structured questionnaire was used to collect data and logistic regression and Chi-Square statistical procedures were employed to analyse the data using the Statistical Package for Social Scientists (SPSS) software. Overall, this pilot study reveals that Bachelor of Commerce(Accounting) students at the University of Venda are not as financially literate as expected, confirming the findings of similar studies conducted on South African university students (Kotzè and Smidt, 2008). There is therefore the necessity to review the academic curriculum in the Bachelor of Commerce programme to include money management course. Furthermore, with more South African university students likely to depend on bank loans to finance their education, it is recommended that financial literacy be made a compulsory course in all undergraduate programmes in South African universities.
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Kuntze, Ronald, Chen (Ken) Wu, Barbara Ross Wooldridge und Yun-Oh Whang. „Improving financial literacy in college of business students: modernizing delivery tools“. International Journal of Bank Marketing 37, Nr. 4 (03.06.2019): 976–90. http://dx.doi.org/10.1108/ijbm-03-2018-0080.
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PurposeThe purpose of this paper is to develop and test through an experiment, an innovative online video teaching module that significantly improves financial literacy in college of business students. Specific business major financial literacy levels are also tested.Design/methodology/approachA total of 244 college of business students were given a financial literacy test. Half of the students were exposed to the “treatment” (watched a video module), while other half were not. The videos comprised 67 min of micro-lectures that students could download, free of charge, at their own convenience. The researchers analyzed the impact of a previous personal finance course on students’ financial literacy levels and tested across four business majors.FindingsThe video intervention was the most successful at increasing financial literacy, surprisingly more so than having taken a past personal finance course. Interaction effects were not significant. Four college majors were tested with a shorter, improved financial literacy measure – finding, to our surprise that non-quantitative business majors (particularly marketing students) are not less financially literate than other majors. Supporting past research, the authors found that female and African-American college students performed significantly lower on the test.Originality/valueThe research adds value to the literature by developing and testing a modern, novel teaching innovation to improve financial literacy in young adults. Using an experimental setting, the authors showed that the innovation was more effective than the commonly proscribed personal finance course. This is one of the few studies to measure financial literacy levels for specific college of business majors.
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Rootman, Chantal, und Xolile Antoni. „Investigating financial literacy to improve financial behaviour among Black consumers“. Journal of Economic and Financial Sciences 8, Nr. 2 (30.07.2015): 474–94. http://dx.doi.org/10.4102/jef.v8i2.104.
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Due to South Africa’s high unemployment rate and large uneducated population, consumers’ low savings levels and high debt levels are of concern. Previous South African research in the domain of financial behaviour focused only on the population’s debt and savings behaviour and the statistics thereof. There is little research on identifying solutions to poor debt and savings behaviour, as well as improvements in financial literacy and behaviour. As it is essential to improve consumers’ financial literacy, increase their financial inclusion and change their financial behaviour to their financial benefit, it is important to investigate the relationships between these financial aspects. This exploratory study investigates aspects relating to financial literacy, financial inclusion and financial behaviour, specifically among black consumers in Nelson Mandela Bay. A total of 335 black consumers were respondents in an empirical investigation. The main results showed that saving and responsible spending behaviours can be improved as consumers’ financial knowledge and inclusion increase. Based on the results, the article presents conclusions and recommendations regarding the financial education necessary to improve aspects relating to financial literacy, financial inclusion and financial behaviour.
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LUSARDI, ANNAMARIA, und OLIVIA S. MITCHELL. „Financial literacy and retirement planning in the United States“. Journal of Pension Economics and Finance 10, Nr. 4 (Oktober 2011): 509–25. http://dx.doi.org/10.1017/s147474721100045x.
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AbstractWe examine financial literacy in the US using the new National Financial Capability Study, wherein we demonstrate that financial literacy is particularly low among the young, women, and the less-educated. Moreover, Hispanics and African-Americans score the least well on financial literacy concepts. Interestingly, all groups rate themselves as rather well-informed about financial matters, notwithstanding their actual performance on the key literacy questions. Finally, we show that people who score higher on the financial literacy questions are much more likely to plan for retirement, which is likely to leave them better positioned for old age. Our results will inform those seeking to target financial literacy programmes to those in most need.
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Engelbrecht, Lambert K., und Abigail Ornellas. „Financial capabilities development: essential discourse in social work“. International Journal of Social Economics 46, Nr. 10 (20.10.2019): 1234–46. http://dx.doi.org/10.1108/ijse-02-2019-0076.
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Purpose Within a neoliberal environment, financial vulnerability of households has become an increasing challenge and there is a requirement of financial literacy education, a necessary activity to facilitate sustainable development and well-being. However, this is seldom a mainstream discourse in social work deliberations. The paper aims to discuss these issues. Design/methodology/approach First, introducing the neoliberal impact on financial well-being and capability for vulnerable households, the authors’ postulation is substantiated on a seven-point argument. The contexts of financially vulnerable households are sketched. Second, a conceptualisation of financial literacy is offered, and third, perspectives on and approaches to financial literacy as a fundamental capability are presented. This is followed by a theoretical foundation of community education as a practice model in social work to develop financial capabilities. In the fifth place, prevailing practices of Financial Capabilities Development (FCD) programmes are offered. Subsequently, the implications of a neoliberal environment for social work practice are examined. Findings The revised global definition of social work encourages the profession to understand and address the structural causes of social problems through collective interventions. As a response, it is argued that community education towards FCD of vulnerable households within a neoliberal environment should be an essential discourse in social development. Originality/value The authors reflect on the significance of FCD, highlighting its contribution towards human security and sustainable development. Although this paper draws on Southern African contexts, the discourse finds resonance in other contexts across the world.
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Lindsey-Taliefero, Debby, Lynne Kelly, William Brent und Russell Price. „A Review Of Howard Universitys Financial Literacy Curriculum“. American Journal of Business Education (AJBE) 4, Nr. 10 (30.09.2011): 73–84. http://dx.doi.org/10.19030/ajbe.v4i10.6066.
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This article evaluates a financial literacy curriculum at the Howard University (HU) School of Business, by measuring the financial knowledge acquired after participating in a variety of programs. To evaluate the HU curriculum, the National Jump$tart Coalition (NJC) survey was administered to collect data on financial knowledge and demographic characteristics. Descriptive statistics and regression analysis were used to study the data. The results show that HU-Business students performance was comparable to Jump$tarts national average for college students and Business/Economics students. HU Business students scored higher than the Jump$tarts African American student sample. The regression analysis helped identity key factors that influence financial awareness for HU students including having checking account, electronic tax preparation, taking a course in personal finance or money management, GPA, and frequently balancing check book.
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Wolf, M. S., J. A. Zagory, C. Chang, S. Knight, P. Ray, M. Kozloff, A. Starr, E. A. Lyons, S. Costello und C. L. Bennett. „Literacy and race predictors in localized prostate cancer treatment choice“. Journal of Clinical Oncology 24, Nr. 18_suppl (20.06.2006): 14541. http://dx.doi.org/10.1200/jco.2006.24.18_suppl.14541.
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14541 Background: Studies have shown that African American populations have low rates of surgery, while similar assessments based on literacy skills have not been reported. Methods: Newly diagnosed prostate cancer patients (n = 311) were approached at 3 hospitals: private, county, and VA. Patients completed demographic and quality of life questionnaires as well as a literacy assessment at baseline, 3 month, and 12 month intervals. Results: Majority (60%) of African American patients were at low functional literacy. In multinomial regression analysis controlling for patient age, clinical stage at presentation, comorbidity, and treatment site, both African American race (RRR 2.4, 95% CI 1.35–5.91) and low literacy (6th grade reading level or below) were significantly and independently associated with a greater likelihood to receive external beam radiation treatment only in relation to other treatment options (AOR 4.26, 95% CI 2.34–7.75). Conclusions: In our inner city population of prostate cancer patients, white patients with high literacy skills opted for radical prostatectomy and persons with low literacy and/or African American race opted for radiation therapy. No significant financial relationships to disclose.
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Zeka, Bomikazi. „Retirement funding adequacy in black South African townships“. African Journal of Economic and Management Studies 11, Nr. 4 (23.03.2020): 573–85. http://dx.doi.org/10.1108/ajems-09-2019-0353.
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PurposeThis study investigates the retirement funding adequacy of black South Africans and how it can be influenced by family structure, health status, financial literacy and the role of the financial planner.Design/methodology/approachA mixed sampling approach was applied to collect data from 441 black South Africans. An exploratory factor analysis (EFA) was undertaken and Cronbach's alphas were calculated to confirm the validity and reliability of the measuring instrument. Structural equation modeling was the main statistical procedure applied to test the hypothesised relationships in the research.FindingsMost of the respondents reside in informal urban areas or townships. The findings show a significant positive relationship between financial literacy and the retirement funding adequacy of black individuals. The study found that individuals who are concerned about the wellness of their family, health and finances are more likely to maintain their standard of living at retirement. However, the role of the financial planner, among black South Africans, does not influence their retirement funding adequacy.Practical implicationsBlack South Africans are attentive to the wellness of their family, health and finances despite the necessity to support nuclear and extended family members. Financial institutions need to consider this aspect when providing financial advice to individuals who have many financial dependents.Originality/valueThis study contributes to the limited understanding on the factors that influence the retirement funding adequacy of black South Africans and it provides recommendations on improving retirement funding adequacy.
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Dovie, D. A. „Financial Literacy in an African society: An essential tool for retirement planning“. Contemporary Journal of African Studies 5, Nr. 2 (27.11.2018): 26–59. http://dx.doi.org/10.4314/contjas.v5i2.2.
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The paper explores the influence of financial literacy on retirement preparation among retirement planners. Purposive sampling was undertaken in selecting 131 respondents for the study. Data was subjected to univariate, correlation and thematic analysis. The results show a discrepancy regarding eligibility to contribute to and benefit from pension scheme and/or system. This has implications for savings in the long-term, establishing that such inadequate information dissemination and systemic challenges pertains. This is detrimental to the systematic process of resource mobilisation and allocation towards retirement, which encompasses pension contribution, savings, house acquisition, healthcare, relationship building. Public education programmes correlate with improved saving behaviour and financial decision-making. Pension system information and preparation towards life in old age are inseparable. These act to avoid old age poverty in an era of increased life expectancy. This is particularly important because financial literacy is a predictor of financial behaviour, whereas retirement preparation is a powerful predictor of wealth accumulation for life in old age.
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Stedall, Cinzia, und Jan M. P. Venter. „Financial products used by South African households at different life stages“. Journal of Economic and Financial Sciences 9, Nr. 1 (18.12.2017): 310–25. http://dx.doi.org/10.4102/jef.v9i1.44.
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South African households don’t save enough to ensure financial freedom after retirement. This article poses the following question: do life stages have a significant impact on the financial products used by households? The question is asked in order to identify possible interventions that could increase financial freedom. This study found that life stages have a significant impact on South African households’ selection of financial products. The use of financial products for each of the levels of the financial product usage hierarchy increases as the age of the household head increases and when the size of the family increases, the only exception being single-parent families. The study indicated that financial literacy programmes should focus on young couples and young families, as there is a notable increase in their financial product usage. The study also found a very low usage of wealth management products by South African households and suggests that policymakers consider the introduction of an incentive to increase household’s usage of these products.