Abstract:
ABSTRACT
The paper examines the directional relationship between religion and poverty: whether
religious belief systems contribute to the persistence of poverty, or whether socio
economic deprivation fosters increased religious adherence. It interrogates whether
poverty can be conceptualized as a function of religious influence, or conversely,
whether religious commitment emerges as a response to economic hardships. This
study examines the degree to which religiosity affects financial literacy and its
consequences for poverty reduction in Ghana. Using qualitative textual analysis of
Christian and Islamic texts, supplemented by secondary academic sources, it
investigates how religious teachings influence financial attitudes, behaviors, and
outcomes. Grounded in the Capability Approach and theological ethics, the study
highlights paradigms such as the “teach-a-man-to-fish” model to emphasize the
synergy between faith-based values and sustainable development. Thematic analysis
indicates that internalized religiosity, in conjunction with focused financial education,
fosters frugality, debt aversion, and economic resilience among low-income
populations. The research bridges gap between religious values and poverty policy,
offering insights for faith-based institutions, financial educators, and development
stakeholders in sub-Saharan Africa. These findings challenge conventional poverty
interventions by demonstrating the transformative role of religiously embedded belief
systems in driving financial empowerment. The significant original contribution that
this study makes is the “teach-a man-to-fish” paradigm, as an effective and sustainable
poverty alleviation strategy in Ghana.
