Financial literacy is an important component of the ever-changing environment of start-up businesses. Despite advances in financial literacy research, it predominantly addresses personal finance issues pertinent to the general population, creating a gap in understanding the financial literacy requirements of incubatees. This study aims to assess the level of financial literacy amongst incubatees in order to identify knowledge gaps where development and adjustments are needed. The study focussed on National University of Lesotho innovation hub incubatees in Roma, Lesotho. A qualitative research methodology was utilised, involving data collection through in-depth, semi-structured interviews with all 10 incubatees at the university incubation hub. The data collected were then transcribed and the content analysis revealed four key themes associated with inadequate financial literacy skills. Generally, incubatees' financial skills are insufficient in financial decisions, financial budgeting and planning, resulting in lack of confidence in applying such financial domains. The study suggests that universities examine more deeply how incubatees' inadequate financial literacy affects start-ups' finance issues and financial decision-making, to customise financial programmes that align with incubatees' financial literacy needs. Contribution: The study offers practical recommendations for integrating financial literacy into university curricula. An integrated approach equips start-ups and aspiring entrepreneurs with essential financial knowledge and skills, ensuring their success in business incubation and beyond. Financial literacy training should focus more on practical application to enhance the financial confidence of incubatees.