This paper is part of the International Journal of Applied Research in Business and Management (ISSN: 2700-8983), Volume 6, Issue 1, published in 2025.
Authors
Jean Damascene Mvunabandi
Abstract
Using quantitative and descriptive research approach, this article investigated the influence of consumer literacy training as a tool to improve financial capability among South Africans. Data was gathered from 10300 consumer literacy trainees from Gauteng and Mpumalanga provinces of South Africa and purposively and conveniently sampled. The pre and post-tests questionnaire surveys with Likert scale was considered as most critical to gathering data on cognitive gain. Data collected was analysed using descriptive statistics and regression analysis. Robustness analysis was performed using SPSS version 28 and STATA. The empirical findings of this research study statistically proved that consumers improved their financial capability knowledge and skills after consumer financial capability training. This study contributes to the current literature as it filled in the gap and contributed sufficiently to financial capability knowledge improvement among study’s participants. The results have potential implications for among others donors, consumers, policymakers, financial literacy educators and finance practitioners to assist South Africans recognise consumer financial education and specifically on consumer financial capability. The study recommends the theoretical models developed only focused on driving forces behind consumer financial capability success, the findings also have potential implications for academia, policymakers, banks and other key role players in the field of consumer financial capability training or short courses within the South Africa. It has also provided great plan for future studies on consumer protection and other pertinent and driving forces might bring to the light low-income and unbaked to achieve their financial goals through financial institutions.
Suggested Citation (APA 7th)
Mvunabandi, J. (2025). The Nexus Between Consumer Literacy Training and Financial Capability Enhancement in South Africa. International Journal of Applied Research in Business and Management, 6(1). https://doi.org/10.51137/wrp.ijarbm.2025.jmtu.45791
