The Effects of Media on Financial Literacy in Ilala Municipality, Tanzania: A Comprehensive Analysis of Digital Platforms

This study investigates how digital finance platforms influence financial literacy in Ilala Municipality, Tanzania, focusing on the effects of media exposure, financial content quality, and user engagement. The specific objectives involved investigating the effects of exposure to media, the effects of the quality of content, and the effects of exposure to digital platforms on financial literacy. A quantitative cross-sectional design was applied, using structured questionnaires to collect data from 201 respondents. Statistical analyses, including regression and mediation tests, were conducted to examine the relationships. Findings reveal that media exposure through digital sources negatively affects financial literacy (B = -3.018, p < 0.001), which means that unfiltered information can limit financial knowledge. Meanwhile, the financial content quality (B = 3.774, p < 0.001) and digital media exposure (B = 7.995, p < 0.001) significantly enhance money literacy. The study provides evidence for policymakers, financial institutions, and educators to leverage digital platforms as tools for financial literacy campaigns. Emphasis should be placed on ensuring high-quality content and promoting interactive engagement. The paper contributes to the limited empirical literature in Sub-Saharan Africa, highlighting the mechanisms by which digital finance platforms affect literacy in an urban Tanzanian setting.