Financial Literacy Assessment on Tertiary Students in Sub-Saharan Africa: A Ghanaian Perspective

Abstract

financial knowledge especially on insurance (mean = 40.54 percent). However, students portray the highest level of financial literacy in savings and borrowing (mean = 52.88 percent). Also, information technology positively influences 95 percent of student’s financial literacy. We recommend that tertiary institutions should inculcate educational program on financial literacy to broaden understanding of financial issues among students. Policy makers should redesign curriculum to include financial literacy courses especially for non-business students. Finally, financial seminars and talks should be focused on teaching relevant financial concepts and the youth should be educated and encouraged to utilize digital or technological platforms to enable them gain more knowledge in finance.