Financial literacy and youth entrepreneurship in South Africa
African Journal of Economic and Management Studies
ISSN: 2040-0705
Article publication date: 1 February 2010
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 in general in 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.
Keywords
Citation
Kojo Oseifuah, E. (2010), "Financial literacy and youth entrepreneurship in South Africa", African Journal of Economic and Management Studies, Vol. 1 No. 2, pp. 164-182. https://doi.org/10.1108/20400701011073473
Publisher
:Emerald Group Publishing Limited
Copyright © 2010, Emerald Group Publishing Limited