IDEAS home Printed from https://ideas.repec.org/a/bjc/journl/v12y2025i8p1496-1515.html
   My bibliography  Save this article

The Impact of Financial Literacy and Accounting Practices on Economic Empowerment among Marginalized Communities: Challenges and Opportunities

Author

Listed:
  • Gwesu Norah C

    (Department of Applied Accounting Sciences, Manicaland State University Of Applied Sciences, Mutare, Zimbabwe; Department of Applied Accounting ,Great Zimbabwe University , Masvingo)

  • Matsikure Cheure Memory

    (Department of Applied Psychology Sciences, Manicaland State University Of Applied Sciences, Mutare, Zimbabwe; Department of Psychology, Midands State University, Gweru)

  • Raganayi Charity

    (Department of Applied Accounting Sciences, Manicaland State University Of Applied Sciences, Mutare, Zimbabwe; Department of Accounting, University of Zimbabwe , Harare)

  • Munyepwa Kudakwashe

    (Department of Applied Accounting Sciences, Manicaland State University Of Applied Sciences , Mutare, Zimbabwe; Department of Accounting ,Great Zimbabwe , Masvingo)

  • Thwala Luba Gilberta

    (Department of Mining, Manicaland State University of Applied Sciences, Zimbabwe; Department of Mining, National University of Sciences and technology, Bulawayo)

Abstract

This study investigates the impact of financial literacy and accounting practices on economic empowerment among marginalized communities. The research explores the relationships between financial literacy levels, engagement with accounting practices, and the barriers faced in achieving economic empowerment. Employing a mixed-methods approach, the study integrates quantitative surveys and qualitative interviews with a sample of 104 participants, selected through purposive sampling to ensure diverse representation. The findings reveal a strong positive correlation between financial literacy and economic empowerment, as well as between effective accounting practices and sustainable growth. Theoretical contributions include a nuanced understanding of how systemic barriers, such as limited access to education and technology, affect financial inclusion. Practically, the study emphasizes the need for culturally relevant financial education programs and community-based initiatives to enhance financial literacy and empower individuals. Policy implications highlight the importance of collaborative efforts among stakeholders to address inequities and promote inclusive financial systems. In conclusion, fostering financial literacy and effective accounting practices is essential for driving economic empowerment and improving the quality of life within marginalized communities.

Suggested Citation

  • Gwesu Norah C & Matsikure Cheure Memory & Raganayi Charity & Munyepwa Kudakwashe & Thwala Luba Gilberta, 2025. "The Impact of Financial Literacy and Accounting Practices on Economic Empowerment among Marginalized Communities: Challenges and Opportunities," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 12(8), pages 1496-1515, August.
    • Handle: RePEc:bjc:journl:v:12:y:2025:i:8:p:1496-1515
    as

    Download full text from publisher

    File URL: https://www.rsisinternational.org/journals/ijrsi/uploads/vol12-iss8-pg1496-1515-202509_pdf.pdf
    Download Restriction: no
    File URL: https://www.rsisinternational.org/journals/ijrsi/article.php?id=142
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bjc:journl:v:12:y:2025:i:8:p:1496-1515. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Renu Malsaria (email available below). General contact details of provider: https://rsisinternational.org/journals/ijrsi/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.