Influence of Financial Technology Knowledge on Entrepreneurial Competence among Business Education Students in Colleges of Education in Oyo State

Abstract

Entrepreneurial competence increasingly depends on the ability to use digital financial technologies to identify opportunities, manage resources and conduct business transactions. This study examined the association between Financial Technology (FinTech) knowledge and entrepreneurial competence among Business Education students in Colleges of Education in Oyo State. A descriptive-correlational survey design was adopted. The population comprised 526 Business Education students from 420 Federal College of Education (Special), Oyo, and 106 Oyo State College of Education, Lanlate. A sample of 227 students was determined using Taro Yamane’s formula at 5% precision. Data were collected with a structured questionnaire and analysed using mean, standard deviation and simple linear regression. The results indicated a high self-reported level of FinTech knowledge (M = 3.45, SD = 0.59) and entrepreneurial competence (M = 3.46, SD = 0.70). Regression analysis showed a statistically significant positive association between FinTech knowledge and entrepreneurial competence (R = .582, R² = .339, F(1, 225) = 115.26, p < .001; B = .624, β = .582, t = 10.74, p < .001). FinTech knowledge accounted for 33.9% of the observed variance in self-reported entrepreneurial competence. Because the study used a cross-sectional survey and self-reported measures, the results should be interpreted as an association rather than evidence of causation. The study recommends strengthening practical FinTech education, including digital payments, digital financial records, cybersecurity and emerging financial technologies, in Business Education and entrepreneurship programmes.