Title: Financial literacy and value creation in rural enterprises: evidence from the non-centrifugal sugar (panela) sector in Colombia

Authors: Johana Regino-Vergara; Paola Milena Suárez-Bocanegra

Addresses: Faculty of Agricultural Sciences, La Salle University, Bogotá, 110231, Colombia ' School of Humanities and Social Studies, La Salle University, Bogotá, 110231, Colombia

Abstract: This study examines the role of financial literacy in value creation within rural enterprises in emerging economies through a qualitative case study of panela producers in Villeta, Colombia. Panela, internationally known as non-centrifugal sugar, is a traditional agro-industrial product mainly produced by small rural enterprises. Data were collected through semi-structured interviews, participatory financial analysis sessions, and documentary reviews. The findings show that strengthening financial capabilities improves entrepreneurs' ability to analyse cost structures, evaluate investment alternatives, and identify opportunities for product diversification and value creation. These capabilities enhance strategic decision-making and support the transition to more structured financial management. This study provides empirical evidence on how financial literacy contributes to value creation in rural agro-industrial enterprises, highlighting its relevance for entrepreneurial support and rural development initiatives.

Keywords: financial literacy; rural entrepreneurship; value creation; agroindustrial sector; emerging economies; non-centrifugal sugar; panela production; financial capabilities; case study; Colombia.

DOI: 10.1504/JGBA.2026.155926

Journal for Global Business Advancement, 2026 Vol.18 No.1, pp.69 - 85

Received: 16 Mar 2026
Accepted: 02 Apr 2026
Published online: 26 Aug 2026 *

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