Abstract:
This study investigated the investment strategies of rural households in small-scale mining communities in the Wassa Amenfi West Municipality of Ghana. It aimed to analyse investment strategies used by households, determine their involvement, identify factors affecting investment, compare investment levels among age groups, and analyse the impact of age, family size, and income. The study employed a cross-sectional survey design and used multistage sampling to select 314 household heads from three rural small-scale mining communities. With positivism as the research philosophy, questionnaires and structured interview schedules were used to collect data, which was analysed using descriptive statistics, t-tests, and multiple logistic regression analysis. The results showed that the main forms of investment used by rural households were savings, and real estate. The study also found that most households were not fully involved in investment due to low-income levels and large family sizes. The study found out that age, income, and family size significantly affect households' investment engagement, whereas risk tolerance, investing knowledge, and service accessibility have a substantial impact. It was suggested that enhancing financial literacy, offering accessible investment services, and implementing income-boosting policies could boost investment in rural small-scale mining communities. The study recommended promoting financial literacy, assisting rural communities in informed investment decisions, encouraging diversified investments, budgeting practices, and integrating practical financial planning modules into Home Economics curricula.
