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Articles & Special Issues Financial Capability Financial Inclusion

Effect of Financial Literacy on Poverty Reduction Across Kenya, Tanzania, and Uganda

By CSD • December 9, 2022February 28, 2023

In developing economies, financial literacy can be an effective antipoverty tool, but evidence is sparse on how it shapes outcomes.

Drawing upon InterMedia Financial Inclusion Insights Program data for Kenya, Tanzania, and Uganda, this study examines financial literacy’s effects on poverty, as well as its indirect effects through financial inclusion and entrepreneurship. The findings clarify the mechanisms by which financial literacy can reduce poverty, suggesting directions for policy and intervention.

The study is one of several published in a special issue of Global Social Welfare.

Project: Financial Capability & Asset Building in Africa (FCAB Africa)

Citation

Koomson, I., Ansong, D., Okumu, M., & Achulo, S. (2023). Effect of financial literacy on poverty reduction across Kenya, Tanzania, and Uganda. Global Social Welfare, 10(1), 93–103. https://doi.org/10.1007/s40609-022-00259-2

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africaDavid AnsongFCAB Africafinancial capabilityFinancial Inclusionfinancial well-beingGlobal Social WelfareIsaac KoomsonMoses OkumupolicySolomon Achulo

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