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Financial Literacy in South Africa

Author

Listed:
  • Lwanga Elizabeth Nanziri

    (Newton International Fellow of the Royal Society and a British Academy Scholar.)

  • Matthew Olckers

    (Research fellow at Monash University)

Abstract

We analyse measures of financial literacy, included in the NIDS survey for the first time in Wave 5. South Africa follows patterns found in other countries. Less educated and low income respondents display low levels of financial literacy. Most countries have large gender gaps in financial literacy while the gender gap is absent in South Africa. Controlling for a number of socio-demographic variables, financial literacy is positively related to ownership of a pension and of mutual funds, stocks, or shares.

Suggested Citation

  • Lwanga Elizabeth Nanziri & Matthew Olckers, 2019. "Financial Literacy in South Africa," SALDRU Working Papers 242, Southern Africa Labour and Development Research Unit, University of Cape Town.
    • Handle: RePEc:ldr:wpaper:242
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    File URL: https://opensaldru.uct.ac.za/handle/11090/957
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    Keywords

    financial literacy; gender; pension; mutual funds;
    All these keywords.

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