Financial Literacy Targeting the Youth and the Media in Kenya. An Analysis of the Daily Nation and the Standard Newspapers in 2015

Abstract

This study sought to analyze how Daily Nation and Standard Newspapers, the two leading local dailies, cover financial literacy focusing on the youth. According to the Kenya National Bureau of Statistics (2009) nearly 80% of Kenyans are youth aged below 35 years of age. This study sought to establish whether the two dailies play any role in empowering the youth with relevant applicable information in matters savings and investments that can help to move most of the youth if not all from a position of poverty, joblessness and dependency to financial independence. The overall objective of this study was to find out how the Kenyan print media specifically the Daily Nation and The Standard newspapers covered financial literacy targeting the youth in the months of January to June 2015.According to Geopoll (2014) the two papers account for 60 % of the newspaper readership in Kenya. The study was anchored on Agenda setting theory which also doubles up as one of the functions of media. The study utilized content analysis of the two publications between January and June 2015, Questionnaires were also used on a sample of 170 youths from Nairobi County. The Questionnaires were analyzed using SPSS, the results presented in form of graphs, percentages, tables, frequencies whilst the content analysis was coded using predetermined codes and presented in prose form and other graphics. The study found that the Daily Nation and The Standard newspapers have not been effective in providing financial literacy targeting the youth. According to the youth‘s interviewed, the information published on The Daily Nation and Standard Newspapers is not easy to comprehend due to the terms used and as such does not inform the decisions they make in regards to finances. The study recommends that the Daily Nation and The standard Newspapers put in place media campaigns geared towards equipping the youth with the essential skills regarding financial management. There is need for the Daily Nation and The standard Newspapers to front financial literacy for the youth as a National Agenda.