Journal of African Development

The rapid proliferation of social media has birthed a new class of financial opinion leaders known as "Finfluencers." This research investigates the profound impact these digital creators have on the retail investment behaviours of Generation Z and Millennial investors. As traditional financial advisory services face barriers of high costs and complex jargon, young investors are increasingly turning to platforms like YouTube, Instagram, and TikTok for financial guidance.

Through a mixed-methods approach—combining quantitative surveys of retail investors and qualitative sentiment analysis of viral financial content—this study explores the psychological drivers of trust, including perceived authenticity, relatability, and the "Fear of Missing Out" (FOMO).

The findings reveal that while finfluencers significantly democratize financial knowledge and increase market participation, they also catalyse herding behaviour and overexposure to high-risk assets. Furthermore, the study examines the effectiveness of recent 2025–2026 regulatory frameworks, such as mandatory SEBI/ASIC licensing, in mitigating misinformation. The results suggest that source credibility now hinges more on regulatory compliance than on social engagement metrics, marking a pivotal shift in how young investors vet financial advice in a post-truth digital economy