Masters Statistics

masters in development finance

MPhil in Development Finance

MPhil in Development Finance​

Specialise in development finance to help unlock Africa’s growth potential

Applications close 15 November

  • Modular
  • Blended
Course overview
Course starts March 2021
Application closes November 2020

If you want to make it your life’s work to help unlock Africa’s growth potential, the MPhil in Development Finance will equip you with critical skills to become a specialist in this area. You will gain an understanding – on a Master’s level – of the complexities of the different development finance resources available to poor countries, especially in Africa. You will also acquire the skills to help formulate and implement policies to make this happen. This will enable you to take on senior positions in the financial industry and in policy-making and regulatory institutions.

  • Modular programme: Attend 3 on-campus blocks (2 weeks each) over 2 years, and complete a research assignment. Classes are presented at the USB campus in the Tyger Valley business district in northern Cape Town.

Application deadlines

  • South African applicants: 30 September
  • RPL applicants: 31 August each year
  • Applicants from (visa-exempt) SADC countries: 31 August
  • Applicants from the rest of the world: 31 August

Dates
These are the dates for 2020. The dates for 2021 will be added once they have been finalised.

YEAR 1
2 blocks
Block 1
02 – 14 March 2020
Block 2
24 August – 5 September 2020
Course overview
Course starts March 2021
Application closes November 2020

If you want to make it your life’s work to help unlock Africa’s growth potential, the MPhil in Development Finance will equip you with critical skills to become a specialist in this area. You will gain an understanding – on a Master’s level – of the complexities of the different development finance resources available to poor countries, especially in Africa. You will also acquire the skills to help formulate and implement policies to make this happen. This will enable you to take on senior positions in the financial industry and in policy-making and regulatory institutions.

  • Blended Learning: Attend 1 on-campus block at the start of Year 1, followed by weekly blended learning classes (using any internet-linked device), and a final on-campus block (which covers the electives) in Year 2. See how blended learning works at USB.

Application deadlines

  • South African applicants: 30 September
  • RPL applicants: 31 August each year
  • Applicants from (visa-exempt) SADC countries: 31 August
  • Applicants from the rest of the world: 31 August

 Dates
The dates for 2021 will be added once they have been finalised.

YEAR 1
2 blocks
Block 1
23 March – 04 April 2020
Block 2
28 September 2019 – 10 October 2020
PROGRAMME HEAD
Professor Michael Graham

Professor Michael Graham received his PhD from the University of Vaasa, Finland, and was an Associate Professor of Finance at Stockholm Business School in Sweden before being appointed as Professor in Finance at USB. His research interests are in corporate finance, corporate governance and financial markets.

  • Fees
  • Structure & content
  • Learning philosophy
  • Admission requirements

These are the provisional tuition fees for 2020. Programme fees for 2021 will be published once this information becomes available.

Programme fees for 2020 2020 2021 Total Provisional Quote
Students from South Africa R91 220 R91 220 R182 440 Request Quote
Students from the Southern African Development
Community (SADC) countries
R95 490 R95 590 R190 980 Request Quote
International students from the rest of Africa (non-SADC) R100 260 R100 260 R200 520 Request Quote
International students from the rest of the world R125 330 R125 330 R250 660 Request Quote
Deposit payable on acceptance of admission for 2020
Students from South Africa R12 600
Students from the SADC countries R47 745
International students from the rest of Africa (non-SADC) R50 130
Students from the rest of the world R62 665
Application fee for 2020
Application fee (non-refundable; applicable to all students) R800

 

Overview

The aim of USB’s MPhil in Development Finance is to offer an internationally recognised academic qualification with content that is relevant in terms of Africa’s development needs. This critical-skills degree is designed as a coherent programme of study at postgraduate level to train you to:

  • Fill the skills gaps in the financial industry and in policy-making and regulatory institutions in the development finance environment
  • Better understand the complexities of and manage the different development finance resources available to poor countries, especially in Africa
  • Understand thoroughly the special problems of finance in developing countries in general and Africa in particular, and acquire the skills to operate successfully and make a meaningful contribution to policy formulation and implementation in this field.

 This will enable you to take on senior positions in the financial industry and in policy-making and regulatory institutions, allowing you to contribute towards sustainable progress in Africa.

 

Core modules

The six core modules are compulsory:

  • Economic Development Perspectives in Africa
  • Issues in Banking and Finance
  • Microfinance
  • Project Finance
  • Public Policy and Leadership
  • Research Methods in Development Finance

Electives

You need to choose 3 of the following electives – one from each block:

Block 1

  • Environmental Finance
  • Infrastructural Finance
  • Public Sector Finance
  • Structured Finance

Block 2

  • Agricultural Policy & Finance
  • Business Forecasting and Econometric Analysis
  • Corporate Governance and Ethics
  • Food Security and Development
  • Leadership Development​
  • Small Scale Enterprise Development

Block 3

  • Development Project Management
  • Economic Diplomacy
  • Environmental Finance
  • Financial Sector Regulation and Development
  • Investment Promotion

Research assignment

Write a research assignment of 15 000 to 25 000 words on a development finance topic, preferably one that is of professional interest to you. You can work on your research assignment while you are doing your course work and electives. Through this research assignment you will learn how to:

  • Identify and describe a research problem and goal in the field of development finance
  • Become acquainted with relevant literature in this field
  • Critically to apply research methods and techniques
  • Present your material in a logical, clear and systematic way
  • Show your capacity for independent, self-managed learning and critical reflection on the research process.

The aim of this degree is to offer an internationally recognised academic qualification with content that is relevant in terms of Africa’s development needs. This critical-skills degree is designed to:

  • Fill the skills gaps in the financial industry and in policy-making and regulatory institutions in the development finance environment
  • Better understand the complexities of and manage the different development finance resources available to poor countries, especially in Africa
  • Understand the special problems of finance in developing countries and Africa in particular, and to acquire the skills to operate successfully and to make a meaningful contribution to policy formulation and implementation in this field.

To apply for the MPhil Development Finance you must meet the following requirements:

  • An appropriate Honours degree (the first postgraduate degree after a Bachelor’s degree) or a 4-year Bachelor’s degree in business, finance, economics, accounting or commerce; OR
  • A 3-year Bachelor’s degree and a postgraduate diploma (120 SAQA credits) from a university or a university of technology in business, finance, economics, accounting or commerce; OR
  • A postgraduate degree in any discipline and appropriate experience in the area of development economics and/or finance; AND
  • A sound understanding of quantitative analysis – a good pass/grade for school-leaving mathematics is an advantage.
  • International students require a SAQA evaluation certificate to evaluate your degree according to South African standards. In this regard please contact SAQA at saqainfo@saqa.org.za

IMPORTANT: The Bachelor’s or Honours degree must be on a level that is equivalent to the South African qualification. Local and foreign academic qualifications have to be at the NQF 7 level (old) or NQF 8 level (new). This implies that the qualification includes a module in Research Methodology and an individual research paper.

Assessment and Recognition of Prior Learning

USB provides wider access to its programmes through its Assessment and Recognition of Prior Learning (ARPL) process. In line with the requirements of the Council for Higher Education (CHE), USB may admit up to 10% of its student body under ARPL.

In order to be admitted to a Master’s programme at USB, candidates should be in possession of a relevant NQF 8 qualification, such as an Honours degree, 4-year in-depth Bachelor’s degree or a postgraduate diploma.

Candidates who wish to be admitted under the ARPL policy will firstly have to submit all the documentation and tests as required for all prospective students. In addition, prospective students applying for a Master’s degree at USB have to adhere to the following:

  • Have at least an NQF 6 qualification.
  • Have at least SIXyears of working experience after obtaining the qualification mentioned in 1, of which at least THREE years should have been in a management or related professional position.
  • Submit a comprehensive CV, indicating detailed areas of responsibility as well as information on activities outside the work environment.
  • Write an assignment of 10 to 15 pages (11-point font size with 1.5 spacing) on a topic supplied by the programme head. The assignment must contain a signed declaration of own work.
  • Provide USB with at least two references (typically current or former line heads) who can testify about the candidate’s managerial or related professional These references will be required to give a detailed personal reference about the candidate on forms provided by USB.
  • Next, USB’s Admissions Committee (head of the programme and another academic) will conduct an in-depth interview with the candidate.
  • If the Committee is of the opinion that the candidate has the abilities to cope with the demands of the MDevF programme, he/she may be admitted.
  • A recommendation of admission is sent via USB’s Academic Planning Committee to the Board of the Faculty of Economic and Management Sciences for notification. ​
  • ARPL candidates need to apply by 30 September each year to allow sufficient time for the assessment process.

Class Profile 2018

Under 25 years
25-30 years
31-36 years
37 years and older
Less than 2 years
2 years
3–6 years
7–11 years
12 years and more
Unknown
Black African
White
Coloured
Indian
Commerce
Law
Information Technology
Arts & Humanities
Engineering
Natural & Physical Science
Education
Unknown

If you work on a managerial level in a financial services environment, you should consider this qualification. This MPhil holds value for people like financial analysts and policy makers in the private or public sector who engage with macro, enterprise and sectoral finance and financial management issues with a focus on developing countries and emerging markets.

Graduates typically work in financial institutions such as central banks, commercial banks, non-bank financial institutions, and development finance institutions such as the DBSA, industrial development corporations and the African Development Bank. They are often project managers or management-level financial analysts.

  1. The skills to develop Africa where it matters. Acquire an astute understanding of development finance and its application in African countries and beyond. This will enable you to evaluate development finance projects in terms of feasibility and outcomes, and to manage the development finance resources available to poor countries.
  2. Meaningful ways to contribute towards sustainable development. This programme focuses on the impact and effectiveness of the policy and project interventions that underpin sustainable development.
  3. The ability to shape finance policies and programmes: Know how to articulate economic development needs and how to formulate, implement and evaluate development finance policies and programmes to address these needs.
  4. The skills to design and implement African-driven solutions. Learn how to structure need-specific solutions for Africa and how to apply this knowledge in any developing country in the world.
  5. A critical skill set in development finance: This includes economic development perspectives in Africa, project finance, microfinance, and governance and ethics.

Research skills: Learn how to use a structured method and rigorous process to answer a question or solve a real-life challenge relating to development finance. It will also give you the ability to make a value judgement on research presented at managerial level.

Testimonials from our alumni

Rutendo Change, 2015 MPhil Development Finance, Associate Consultant, ZIMBISA, Harare, Zimbabwe,

‘As a future policy maker, I needed a programme that would stimulate critical thinking about the continent’s development challenges and act as a platform for the exchange of ideas and solutions to improve opportunities for all Africans. I have started building networks in Southern, West and East Africa, a tribe of Africa’s future leaders committed to the advancement of the continent and its people. No other development finance programme is as committed to Africa as USB’s MDevF.’

Iesrafeel Jakoet, 2015 MPhil Development Finance, Chief Financial Officer, OIM Group, Cape Town, South Africa,

‘With USB’s rating as one of the top three business schools in Africa, it was the obvious choice for me. I chose the MDevF to challenge myself on a professional and personal level. It broadened my knowledge base and gave me a different perspective on the challenges faced by the African continent. I’ve met some extraordinary people on this programme and it has made me realise the importance of a strong network of leaders who, together, can deal with the unique challenges of our continent.’

Elton Jangale, 2015 MDevF, Partner, PFI Partnerships (Public-Private Partnership Practitioners), Blantyre, Malawi; Board Director, Malawi Stock Exchange; Board Director, Malawi Revenue Authority,

‘I enrolled on MDevF to enhance my skills as a PPP practitioner. The MDevF, its experienced professors and diverse students challenged me to take a broader view of Africa’s sustainable economic development. I have now become a Development Practitioner playing various roles in promoting the economic development of Malawi and SADC.’

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FAQs

Not necessarily. The Postgraduate Diploma in Development Finance is a natural feeder to the MPhil. In extreme situations we accept exceptional candidates as RPL candidates.

Yes, you can apply through Recognition of Prior Learning (ARPL).

USB may admit up to 10% of its student body under RPL. In order to be admitted to a Master’s programme at USB, candidates should be in possession of a relevant NQF 8 qualification, such as an Honours degree, 4-year in-depth Bachelor’s degree or a postgraduate diploma.

Candidates who wish to be admitted under the RPL policy will firstly have to submit all the documentation and tests as required for all prospective students. In addition, prospective students applying for a Master’s degree at USB have to adhere to the following:

  • Have at least an NQF 6 qualification (all school and academic certificates are required)
  • Have at least SIX years of working experience after obtaining the qualification mentioned above, of which at least THREE years should have been in a management or related professional position
  • Submit a comprehensive CV, indicating, in detail, areas of responsibility as well as information on activities outside the work environment
  • Write an assignment of 10 to 15 pages (11-point font size with 1.5 spacing) on a topic supplied by the programme head. The assignment must contain a signed declaration of own work.
  • Provide USB with at least two references (typically current or former line heads) who can testify about the candidate’s managerial or related professional abilities (on forms provided by USB).

The RPL selection process entails the following:

  • USB’s Admissions Committee (programme head and another academic) will conduct an in-depth interview with the candidate.
  • If the Committee is of the opinion that the candidate has the ability to cope with the demands of the programme, he/she may be admitted.
  • A recommendation of admission is sent via USB’s Academic Planning Committee to the Board of the Faculty of Economic and Management Sciences for notification. ​
  • RPL candidates need to apply by 31 October to allow sufficient time for assessment.

Yes. South African students must pay a set deposit on admittance. 75% of the annual fee is payable 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.

USB supports the principle of recognition of prior academic learning, although this is only applied in very selective instances, because group work and collaborative learning are cornerstones of the USB MBA. To obtain an MBA degree at USB, a student must be registered at Stellenbosch University for at least two years and at least 50% of the credits have to be obtained at this University. A student who has been admitted to the MBA programme may apply for accreditation of prior learning, provided that it was obtained on another MBA programme. Students wanting to apply for accreditation of credits obtained elsewhere need to supply:

  • An application which includes full course outlines, number of SAQA credits, learning outcomes, number of class contact hours, prescribed textbooks, method and weights of assessment, and outcomes or topics per class session.
  • Additional work or assessments may be required.

Study loans for students from West Africa: Guaranty Trust Bank Plc, with its headquarters in Lagos, Nigeria, has partnered with the USB to provide loan facilities for tuition expenses to USB students in West Africa. The MaxAdvance facility is a time loan or term loan that aims to meet a range of personal needs for students.