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Impact of financial education literacy and financial inclusion in Namibia

Impact of financial education literacy and financial inclusion in Namibia

Wealth, Eukeria, Svotwa, Tendai Douglas and Makanyeza, Charles (2023) Impact of financial education literacy and financial inclusion in Namibia. In: Chitimira, Howard and Warikandwa, Victor Tapiwa, (eds.) Financial Inclusion Regulatory Practices in SADC: Addressing Prospects and Challenges in the 21st Century. Routledge Studies on Law in Africa . Routledge - Taylor & Francis, Abington, Oxon; London; New York, pp. 76-89. ISBN 978-1003369400; 978-1032439150; 978-1032439167; 1032439157 (doi:

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Financial inclusion is a fundamental tool for global socio-economic development as it reduces poverty and enhances economic growth. Africa's financial inclusion levels have remained very low with Namibia scoring the lowest (4%) as of 2012 compared with its counterparts despite the Namibian government having initiated many financial literacy programmes. This has been largely blamed on fragmented literacy programmes and uncoordinated, duplicated and unclear financial education policies. These and other obstacles keep the Namibian populace, especially vulnerable groups such as the elderly, rural poor, unemployed, youths and minorities, financially excluded. Scholars lament Africa's inadequate policy responses to financial literacy needs. The chapter seeks to unravel the status of the financial education system in Namibia in a bid to identify the related constraints and proffer possible solutions. With the current global financial crisis, the need for financial education for the average person and society at large cannot be overemphasised. Financial education programmes cannot be a one-size-fits-all and there is a need for a tailored curriculum and targeted content that address Namibia's unique needs.

Item Type: Book Section
Uncontrolled Keywords: financial education; financial literacy; financial inclusion; sustainable development goals
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HG Finance
L Education > L Education (General)
Faculty / School / Research Centre / Research Group: Faculty of Business
Related URLs:
Last Modified: 14 May 2024 11:04

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