Abstract:
ABSTRACT
The main purpose of the study was to assess the financial literacy of market
women in the Cape Coast metropolis and how culture influences their personal
financial behaviour. A quantitative, descriptive method was employed to aid
carry out the study. Questionnaire was the instrument used in data collection
and 400 market women in the Cape Coast Metro major markets were queried
out of which 380 were received. The data collected was analysed using
Statistical Package for Social Science (SPSS) to generate frequency tables for
descriptive analysis.
Findings from the study indicated that most market women were knowledgeable
in finance but lack the necessary tools and conditions to apply this knowledge
to equip and enhance their financial behaviour. However, majority of the market
women indicated that they are interested in increasing their financial
knowledge.
The study further recommended that educational programs, financial
consultancy and involvement of market women in financial program design will
help increase their financial literacy. Also, the government should be involved
in financial literacy program implementation to stem up its effectiveness in the
form to support
