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Financial literacy and youth entrepreneurship in South Africa

Author

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  • Emmanuel Kojo Oseifuah

Abstract

Purpose - The purpose of this paper is to assess the level of financial literacy and impact on youth entrepreneurship in South Africa. Design/methodology/approach - The paper used both desk research and questionnaire complemented by interview to assess the level of financial literacy among youth entrepreneurs in the Vhembe District of the Limpopo Province, South Africa. Findings - The paper reveals that financial literacy among youth entrepreneurs in the Vhembe District appears to be above average and contributes meaningfully to their entrepreneurship skills. Research limitations/implications - Further research is needed to verify in specific and practical terms, the level and impact of financial literacy on youth entrepreneurs in the Vhembe District. Practical implications - Education and training at both high school and tertiary levels with emphasis on financial literacy and entrepreneurial skills may have significant implications for small‐, micro‐, and medium‐sized enterprise development and growth for the youth entrepreneur ingeneralin South Africa. Originality/value - The paper is the first to examine the level of financial literacy among youth entrepreneurs in the Vhembe District. The paper therefore sets an important benchmark for further research in this area.

Suggested Citation

  • Emmanuel Kojo Oseifuah, 2010. "Financial literacy and youth entrepreneurship in South Africa," African Journal of Economic and Management Studies, Emerald Group Publishing Limited, vol. 1(2), pages 164-182, February.
    • Handle: RePEc:eme:ajemsp:v:1:y:2010:i:2:p:164-182
    DOI: 10.1108/20400701011073473
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    Citations

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    Cited by:

    1. Antonio Molina-García & Julio Diéguez-Soto & M. Teresa Galache-Laza & Marta Campos-Valenzuela, 2023. "Financial literacy in SMEs: a bibliometric analysis and a systematic literature review of an emerging research field," Review of Managerial Science, Springer, vol. 17(3), pages 787-826, April.
    2. Rani, Mamta & Siwach, Manoj, 2023. "Financial Literacy In India: A Review Of Literature," Economic and Regional Studies (Studia Ekonomiczne i Regionalne), John Paul II University of Applied Sciences in Biala Podlaska, vol. 11(2), September.
    3. Rani Mamta & Siwach Manoj, 2023. "Financial Literacy in India: A Review of Literature," Economic and Regional Studies / Studia Ekonomiczne i Regionalne, Sciendo, vol. 16(3), pages 446-458, September.
    4. Md. Saidul Islam & Md. Akash & Shake Farhan & Md Jahidul Islam Jahid & Md.Omit Hasan Ovi, 2023. "Understanding the Factors that Influence Financial Literacy in Small Businesses: Evidence from Bangladesh," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(12), pages 492-505, December.

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