Role of financial literacy in promoting investments in financial securities

Abstract

The purpose of the study was to examine the role of financial literacy in promoting investments in financial securities. The objectives of the study included; to assess the level of awareness and people’s willingness to invest in financial securities, to access the current efforts and challenges in promoting investment in financial securities and to examine how savings influence the level investment in financial securities. The study used cross-sectional survey research design adopting both quantitative and qualitative approaches. The researcher used a sample of 60 respondents. Simple random sampling and Purposive sampling was used. Methods of data collections were questionnaires and interviews guides. The research concluded that there exist low levels of investments in financial securities. The study recommends that awareness campaign should be taken seriously by Capital Market Authority as this is an avenue to convince the public to invest in financial securities.