Repository logo
 

Faculty of Management Sciences

Permanent URI for this communityhttp://ir-dev.dut.ac.za/handle/10321/13

Browse

Has files: YesSubject: search.filters.subject.Financial literacy

Search Results

Now showing 1 - 4 of 4
  • Thumbnail Image
    Item
    The interplay between financial literacy, financial technology and financial behaviour of high school teachers in an emerging economy
    (Richtmann Publishing, 2023-07-01) Jali, Nkosinathi Prince; Nyide, Celani John; Stainbank, Lesley June
    This study examined the influence of financial literacy and financial technology on the financial behaviour of high school teachers in an emerging economy. The use of financial technology comes with widely documented advantages, however, the increasing diversity of financial technology products available is found to have complicated many people in emerging economies. The availability of information has made it easier for people to make irresponsible financial decisions, which have resulted in higher levels of debt. While teachers play a meaningful role in financial literacy education, research points out they still need to undergo financial literacy education themselves in order to improve their financial management expertise, more so in the digital era. A scientific questionnaire was distributed to 246 high school teachers who were chosen on a probability basis using systematic random sampling. The research data were subject to correlation analysis. The results show that high school teachers have a good grasp of financial technology, and they possess strong financial literacy skills. The correlation analysis indicated that financial literacy skills are the most important attribute influencing financial behavior of high school teachers.
  • Thumbnail Image
    Item
    The impact of financial knowledge on the economic empowerment of women entrepreneurs in KwaZulu-Natal, South Africa
    (2023) Kandolo, Ka Muzombo; Lekhanya, Lawrence Mpele
    Entrepreneurial activities play crucial roles in poverty alleviation, job creation, economic development and empowerment worldwide. However, women entrepreneurs face numerous challenges, including insufficient financial knowledge, gender inequality, and lack of productive assets, which limit their access to finance and economic empowerment. To address this gap, this study aims to examine the effect of financial knowledge on the economic enablement of women entrepreneurs in Durban, South Africa, and to contribute to the academic literature on women entrepreneurship by applying feminist theories. The study collected quantitative data from 400 women entrepreneurs using a Likert-scaled questionnaire and analysed it using Structural Equation Modelling Technique. The findings reveal the challenges faced by women entrepreneurs in Durban, including lack of financial knowledge and management skills, gender inequality, and limited opportunities for education and productive assets. The study suggests new feminist philosophies and a conceptual model for policymakers and women-owned businesses to promote women's economic empowerment. However, the study's limitations include a limited sample size and reliance on selfreported data. Future research should explore financial knowledge's impact on women's economic empowerment in other provinces, with larger and more diverse samples, and employ a mixed-methods approach for a comprehensive understanding of women entrepreneurs' challenges. Finally, future studies could examine the effectiveness of specific interventions aimed at increasing financial knowledge and promoting women's economic empowerment in the context of entrepreneurship
  • Thumbnail Image
    Item
    The level of financial literacy of agribusiness entrepreneurs in Zimbabwe
    (2023) Gumbo, Lilian; Vengesai, Edson; Marimuthu, Ferina
    Agribusiness is the cornerstone of the Zimbabwean economy as most people survive on agricultural related activities, and it is regarded as the first step to fighting poverty among the rural population. However, the sector has not been performing well in terms of productivity due to various factors, which include poor management of borrowed funds, higher loan defaults, and financial exclusion. The study sought to assess the level of financial knowledge, financial behaviours, and financial attitudes of agribusiness entrepreneurs. Pragmatism research philosophy guided this research. The study made use of the mixed method approach and sequential mixed method research design. Quantitative data was first collected using a questionnaire, followed by interviews that were conducted to build upon quantitative results. Multistage cluster sampling and convenience sampling were used to select research participants. The study also sought to determine the major factors affecting the financial literacy of agribusiness entrepreneurs and the nature of financial products demanded by agribusiness entrepreneurs. Research findings established that agribusiness entrepreneurs: (1) have low financial knowledge, (2) exhibit poor financial behaviours, and (3) have good financial attitudes except for diverting a portion of business loans for personal use. The general level of financial literacy was very low among agribusiness entrepreneurs but extremely low among women, lowincome earners, those with low levels of education, and those living with several dependants below 18 years. Most smallholder agribusiness entrepreneurs earned very low incomes of less than US$500 per month due to lower yields and, therefore, could not afford bank loans usually charged at very high interest rates. Agribusiness entrepreneurs usually relied on non-financial products like rotational savings (mukando in Shona), selling something owned and family and friends to make ends meet. There was a disassociation between financial products needed by agribusiness entrepreneurs and the products offered by financial institutions. The study developed and recommended a financial literacy operationalisation model for agribusiness entrepreneurs for consideration by policy makers.
  • Thumbnail Image
    Item
    Significance of financial literacy on personal savings behaviour : a study of the City of Tshwane and Mahikeng Municipality employees
    (Adonis and Abbey Publishers, 2022-01-15) Mbukanma, Ifeanyi; Rena, Ravinder
    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 findings revealed that the respondents have a reasonable level of financial literacy, which is in line with the conceptual findings of previous literatures. Secondly, it was ascertained that variables under financial control, financial planning, financial knowledge, and understanding positively impact household savings behaviour. Meaning that the more they are familiar with these variables, the more they are likely to save. On the contrary, the variables under the construct of knowledge of financial products and services were identified to impact household savings behaviour negatively, meaning that the more they are knowledgeable on financial products and services, the lesser they are likely to save. Hence, it was concluded that stakeholders and policymakers in charge of financial and savings literacy in South Africa should incorporate these identified positive variables of financial literacy into their savings campaign programmes.