PhD Development Finance​

Determine development strategies for Africa and South Africa with research on PhD level.

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Course Overview
Research
Course starts 23 January 2023
Fees R 134 556 (2022)
Applications 2022 Applications Closed

The focus of this internationally accredited PhD Development Finance is research to support the growth agendas of South Africa and Africa. Doing research at PhD level will enable you to contribute to a crucial understanding of development finance. Advanced knowledge of development finance is typically required in senior positions in policy-making institutions, government, public and private corporations, financial institutions, and international organisations. This is the first PhD of its kind on the African continent.

Stellenbosch Business School emphasises the creation of knowledge that is particularly relevant to African organisations. This forms part of our social responsibility to strengthen our continent to the benefit of all those involved.

The first year of registration is taken up by course work while the second and subsequent years of registration are taken up by the research component, which culminates in a PhD thesis. This degree is therefore structured into a course-work component and supervised research.

  • Duration: 2 years plus
  • Format: Class programme in Year 1, supervised research from Year 2 onwards

Deadlines for applications and SHL selection tests: Closed.   Your completed application, supporting documents and SHL test results must be submitted by the document deadline dates.

The fees below are for 2022. The fees for 2023 will be posted once these become available.

​R850

 Programme tuition fees for 2022 2022 (1st year) 2023 (2nd year)* Total Provisional Quote
Students from South Africa R 81 499 R53 057 R134 556 Download
Students from Southern African Development Community
(SADC) countries
R86 164 R57 722 R143 886 Download
International students from the rest of Africa (non-SADC countries) R91 379 R62 937 R154 316 Download
​International students from the rest of the world R91 379 R62 937 R154 316 Download
​​​​​​​Deposit payable on acceptance of admission​ for 2022
​​​​Students from South Africa R 16 300
​​​​Students from Southern African Development Community
(SADC) countries
R 43 082
International students from the rest of Africa
(non-SADC countries)
R 45 689
​International students from the rest of the world R 45 689
​​​​​​​Application fee​ for 2022
Application fee (non-refundable; applicable to all students) R850
SHL selection test fee (non-refundable; applicable to all students) R2 950

*Provisional fees

Important:

  • Fees and deposit: All students pay a deposit on acceptance of admission. South African students must pay a set deposit on admittance. South African students need to pay 75% of the annual fee by the end of May and the balance of 25% by the end of September. International admitted students pay 50% of the annual fee as deposit. The remainder is due two weeks before commencement of the programme. The deposit is deducted from the programme fee. The deposit payable is non-refundable.
  • Deposit: All students pay a deposit on acceptance of admission. South African students must pay a set deposit on admittance. International admitted students pay 50% of the annual fee as deposit. The deposit payable is non-refundable.
  • Application fee: The application fee must accompany the application. The application fee is non-refundable.
  • Fees for second and subsequent years of enrolment: These fees will be adjusted to make provision for annual price increases.
  • Assessment of international students’ applications: International students require a South African Qualifications Authority (SAQA) evaluation certificate to evaluate their degrees according to South African standards. The Business School’s International Affairs Office will first handle the credential evaluations of international students free of charge. Students need to complete the online application and upload all certificates with their application. The International Affairs Office will conduct an in-house credential evaluation after you have submitted your application. Should the International Affairs Office be unsure about the status, recognition or accreditation of your qualification, we reserve the right to refer you to SAQA. The Business School will only assess your application once we have received your application fee and SHL fee.
  • Travel and accommodation: Students are responsible for their own travel and accommodation arrangements and costs.
  • Fee changes: Stellenbosch Business School reserves the right to change the fees at any time.

 

FINANCING

 Capitec’s credit for education solution

Capitec offers credit for education at a discounted rate from 7% which allows prospective students, or their parents or guardians, to apply for a loan of up to R250 000 and pay it back over 84 months. To apply, the applicant must be permanently employed, 18 years or older, and have a valid South African ID document. A provisional quote or admission letter from Stellenbosch Business School is needed to process the credit application. You can only apply for Capitec’s credit solution through the Business School’s website. Go to the academic programme in which you are interested (see the FEES tab) and apply via the link supplied. Or go to https://www.usb.ac.za/academic-programmes/capitec-credit-for-education/.

Initiation, service fees and T&Cs apply. Capitec Bank is an authorised financial services provider (FSP 46669) and registered credit provider (NCRCP13).

TIMETABLES

The dates below are the suggested dates for 2023 to serve as a guideline for you. The final dates will be available by 31 August 2022. (The Business School reserves the right to change dates of the lecture schedule or subjects per term table. Students will be informed of any changes in good time.)

YEAR 1 (2022):

Block 1: 25 January – 6 February

Block 2: 12 – 24 April

 

Full PhD registration awarded after completion of first year. This is followed by supervised research from Year 2 onwards.

Overview

Specialised research to support the growth agendas of South Africa and Africa – this is the focus of Stellenbosch Business School’s PhD Development Finance.

During the first year of this programme, you need to attend 2 blocks of 2 weeks each on the Business School’s campus. During this time, you will acquire advanced research techniques and a thorough understanding of the theory and practice of development finance, allowing you to finalise a comprehensive research proposal. These three core modules are compulsory in Year 1:

  • Advanced Research Techniques
  • Advanced Theory and Practice of Development Finance
  • Global Development Finance

During the second and subsequent years, you will do supervised research, culminating in a PhD degree.

Core Modules in Year 1

The three core modules are compulsory:

  • Advanced Research Techniques
  • Advanced Theory and Practice of Development Finance
  • Global Development Finance

This PhD is intended to develop knowledge and skills in the field of Development Finance. The programme has been designed to help you develop the skills required to carry out advanced research and to equip you with a sound understanding of the principles and theories of development finance. The programme consists of:

  • A core curriculum in Year 1: This structured coursework component is non-credit bearing but you are required to pass the requisite courses and submit a comprehensive proposal before proceeding with the dissertation. You need to do three core courses at PhD level.
  • A research thesis from Year 2 onwards: As a PhD student you will be expected to pursue supervised research, culminating in a doctoral dissertation. This dissertation must:
    • Represent an original and significant contribution to
      the enrichment and advancement of knowledge on Development
      Finance
    • Demonstrate originality of thought, a theoretical underpinning, relevance to the discipline and rigour in execution
    • Create intellectual capital.

What you need to apply

  • A well-recognised master’s degree in Development Finance, Economics, Finance or allied fields
  • A strong quantitative background
  • SHL selection test (see below).

 

Important:

  • International students: International students require a South African Qualifications Authority (SAQA) evaluation certificate to evaluate their degrees according to South African standards. The Business School’s International Affairs Office will first handle the credential evaluations of international students free of charge. Students need to complete the online application and upload all certificates with their application. The International Affairs Office will, as part of the application process, conduct an in-house credential evaluation after you have submitted your application. However, should the International Affairs Office be uncertain about the status, recognition or accreditation of your qualification, we reserve the right to refer you to SAQA before we consider your application further.
  • Vetting process: All degrees undergo a formal vetting process to eliminate fraudulent applications.

SHL selection test

You need to complete the SHL abilities selection test as part of your application process. The test consists of a verbal critical reasoning assessment, numerical critical reasoning assessment, inductive reasoning test, and Occupational Personality Questionnaire (OPQ) on behavioural preferences, which are used for selection and for the identification of your development areas.

  • Duration: Approximately 3 hours.
  • Preparation: No preparation is required. However, you are encouraged to perform a practice test to familiarise yourself with the test format. See shl.com/shldirect/en-us/practice-tests/
  • About the test: The SHL test is done online. (Random verification might be requested.) You will be provided with a link to the SHL test once you have paid your PhD Development Finance application fee and SHL selection test fee, and after you have submitted your application form and have received your provisional student number. (You need to use this provisional student number when writing the SHL.)
  • Cost: For fees, please see usb.ac.za/course/phd-development-finance/ (click on Fees tab). See bank details under How to apply and use your provisional student number as reference. The application fee and SHL selection test fee can be paid online, and they are non-refundable.
  • Link to the SHL selection test: You do not have to arrange with the Business School to write the SHL test. You will receive a link to the test once the relevant payments have been received and you have submitted your application form. We will receive your results directly from SHL and will upload it to your application form on your behalf.
  • Additional information: shl.com/en/assessments/cognitive-ability/
  • The SHL selection test is valid for 18 months. If your SHL selection test results are older than this, you should ideally rewrite the test as people grow and develop and assessments need to take this into account. The Business School does not consider SHL tests from other institutions as you may have written a different type or level of test, or you may have been compared to a different comparison group. If you have completed the SHL with us during the past 18 months, you do not have to rewrite the test.
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Alumni who support prospective students in their new stage of life and share their personal experience about studying at Stellenbosch Business School.

APPLICATIONS CLOSED

Programme enquiries and application support

Henry Booysen: Client Liaison

 

Admission enquiries

Marissa Groenewald

 

FAQs

A PhD enables you to solve a business problem in a structured way and to gain expertise – through in-depth research – in a particular field. PhD research undertaken at Stellenbosch Business School must also be meaningful because we emphasise the creation of knowledge that is particularly relevant to African organisations. Reasons to embark on a PhD journey include the following:

  • Becoming an expert in development finance and to acquire applicable expertise
  • Contributing to a crucial understanding of development finance
  • Gaining advanced knowledge of development finance, which is typically required in senior positions in policy-making institutions, governments, public and private corporations, financial institutions and regional and international organisations.

Advanced knowledge of development finance is typically required in senior positions in policy-making institutions, governments, public and private corporations, financial institutions and regional and international organisations. It is also required for an academic or research-focused career.

The first year comprises of 2 blocks of 2 weeks each on campus. In view of the intensive nature of the programme, Stellenbosch Business School prefers participants to be fully resident for the first year of the programme to enable them to cope with the rigours of the coursework. The lectures are organised in two blocks of two weeks each and they will take place between January and June every year. Each course is covered in a block and consists of highly interactive lectures, seminars and case discussions. A student who fails to complete the course work and the research proposal after the first year may be asked to withdraw from the programme.

The supervised research that follows in Year 2 can be undertaken from anywhere in the world.

FAQs

A PhD enables you to solve a business problem in a structured way and to gain expertise – through in-depth research – in a particular field. PhD research undertaken at Stellenbosch Business School must also be meaningful because we emphasise the creation of knowledge that is particularly relevant to African organisations. Reasons to embark on a PhD journey include the following:

  • Becoming an expert in development finance and to acquire applicable expertise
  • Contributing to a crucial understanding of development finance
  • Gaining advanced knowledge of development finance, which is typically required in senior positions in policy-making institutions, governments, public and private corporations, financial institutions and regional and international organisations.

Advanced knowledge of development finance is typically required in senior positions in policy-making institutions, governments, public and private corporations, financial institutions and regional and international organisations. It is also required for an academic or research-focused career.

The first year comprises of 2 blocks of 2 weeks each on campus. In view of the intensive nature of the programme, Stellenbosch Business School prefers participants to be fully resident for the first year of the programme to enable them to cope with the rigours of the coursework. The lectures are organised in two blocks of two weeks each and they will take place between January and June every year. Each course is covered in a block and consists of highly interactive lectures, seminars and case discussions. A student who fails to complete the course work and the research proposal after the first year may be asked to withdraw from the programme.

The supervised research that follows in Year 2 can be undertaken from anywhere in the world.

Testimonials from our alumni

Dave Munro, Fund head, Vumela Enterprise Development Fund, Heidelberg, South Africa.

“I researched available Masters programmes in Development Finance globally, and Stellenbosch Business School provided the best combination of applied knowledge and research. It is a privilege for me to learn with such a diverse group of people in this field.”