Financial Literacy in Contexts of Vulnerability: Determinants Among Women Horticulturists in Guinea-Bissau

Financial literacy plays a crucial role in promoting social and economic resilience, particularly in vulnerable contexts where access to education and financial services is limited. This study provides the first empirical analysis of the determinants of financial literacy among women horticulturists in Guinea Bissau in West Africa, a group that sustains household income and local markets through informal work. A survey with face-to-face data collection was employed, using a structured questionnaire to assess financial literacy across three dimensions: financial attitude, financial behavior, and financial knowledge. All 978 women horticulturists at the Pessubé Farm were invited to participate in the survey, and 200 valid questionnaires were returned and used as the final sample. Data were analyzed using descriptive statistics and multiple linear regression. Results revealed prudent and consistent financial behaviors, mid to low financial attitudes marked by concern about expenses and short-term planning, and limited conceptual financial knowledge, with frequent uncertainty on basic topics such as inflation, interest, and diversification. Regression analysis showed that financial satisfaction and food sufficiency are positively associated with higher levels of financial literacy, while overdue debts exert a negative effect. These findings highlight that strengthening financial literacy in low income and informal settings requires context sensitive strategies integrating financial education, debt management, and food security initiatives, emphasizing the multidimensional nature of financial literacy and its role in inclusive and sustainable development.