Development Finance

masters in development finance

MPhil in Development Finance​

MPhil in Development Finance​

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

  • Modular
  • Blended
  • Course
  • Fees
  • Structure & Content
  • Learning Philosophy
  • Admission Requirements
Course Overview
Course starts Beginning of 2022
Application closes 30 Nov (SA) | 31 Oct (international + RPL)

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 Master’s level – of the complexities of the different development finance resources available to poor countries, especially in Africa. You will acquire the skills to help formulate and implement policies to make this happen. You will also be exposed to skills that are crucial for Africa’s future – such as economic development, project finance, and responsible leadership.

This will enable you to take on senior positions in the financial industry and in policy-making and regulatory institutions.

  • Modular programme: Study while you work. 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. (The on-campus blocks will be delivered online in case of Covid-19 restrictions.)

These are the dates for 2021. The dates for 2022 will be added once they have been finalised.

 

Application deadlines
South African applicants: 30 November

RPL applicants: 31 October

Applicants from (visa-exempt) SADC countries: 31 October

Applicants from the rest of the world: 31 October

YEAR 1
2 blocks
Block 1
01 - 13 March
Block 2
23 August – 04 September

The fees below are the tuition fees for 2021 (with fee relief incorporated). Programme fees for 2022 will be published once this information becomes available.

Programme fees for 2021 2021 2022 Total Provisional Quote
Students from South Africa R92 285 R92 265 R184 550 Download
Students from the Southern African Development
Community (SADC) countries
R96 785 R96 765 R193 550 Download
International students from the rest of Africa (non-SADC) R101 815 R101 795 R203 610 Download
International students from the rest of the world R101 815 R101 795 R203 610 Download
Deposit payable on acceptance of admission for 2021
Students from South Africa R13 060
Students from the SADC countries R48 393
International students from the rest of Africa (non-SADC) R50 908
Students from the rest of the world R50 908
Application fee for 2021
Application fee (non-refundable; applicable to all students) R850
  • Application fee: The application fee must accompany the application. The application fee is not refundable.
  • Travelling, accommodation and meals are for students’ own accounts.
  • USB reserves the right to change the fees at any time.

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.
  • Demonstrate appreciation of the emerging financial technologies and their application in the financial services industry.

Core Modules

The six core modules are compulsory:

  • Economic Development Perspectives in Africa
  • Issues in Banking and Finance
  • Small Business Finance
  • 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
  • Small Scale Enterprise Development

Block 3

  • Development Project Management
  • Economic Diplomacy
  • 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.
  • Demonstrate appreciation of the emerging financial technologies and their application in the financial services industry.

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.

NOTE: International students require a SAQA evaluation to evaluate your degree according to South African standards.  USB’s International Affairs Office will handle your credential evaluation free of charge.  Please complete an online application, upload all certificates to your application. The international office will conduct an in-house credential evaluation, after we received your submission and application fee, as part of the process.

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.

Recognition of Prior Learning

USB provides wider access to its programmes through its Recognition of Prior Learning (RPL) process. In line with the requirements of the Council on Higher Education (CHE), 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. These references will be required to give a detailed personal reference about the candidate 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 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. ​
  • Important: RPL candidates need to apply by 31 October to allow sufficient time for the assessment process.
  • Course
  • Fees
  • Structure & Content
  • Learning Philosophy
  • Admission Requirements
Course Overview
Course starts Beginning of 2022
Application closes 30 Nov (SA) | 31 Oct (international + RPL)

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 Master’s level – of the complexities of the different development finance resources available to poor countries, especially in Africa. You will acquire the skills to help formulate and implement policies to make this happen. You will also be exposed to skills that are crucial for Africa’s future – such as economic development, project finance, and responsible leadership.

This will enable you to take on senior positions in the financial industry and in policy-making and regulatory institutions.

  • Blended Learning: Study while you work. Attend 1 on-campus block at the start of Year 1, followed by weekly blended learning classes (using an internet-linked laptop), and a final on-campus block (which covers the electives) in Year 2. (The on-campus blocks will be delivered online in case of Covid-19 restrictions.) See how blended learning works at USB.

These are the dates for 2021. The dates for 2022 will be added once they have been finalised.

 

Application deadlines

South African applicants: 30 November

RPL applicants: 31 October

Applicants from (visa-exempt) SADC countries: 31 October

Applicants from the rest of the world: 31 October

YEAR 1
2 blocks
Block 1
22 – 26 February (Virtual orientation on Monday (full day) and lectures from Tuesday to Friday from 16:00-20:15.
Thereafter
Every Monday from 16:00-20:15, commencing on 1 March

The fees below are the tuition fees for 2021 (with fee relief incorporated). Programme fees for 2022 will be published once this information becomes available.

Programme fees for 2021 2021 2022 Total Provisional Quote
Students from South Africa R92 280 R92 280 R184 560 Download
Students from the Southern African Development
Community (SADC) countries
R96 780* R96 780* R193 560* Download
International students from the rest of Africa (non-SADC) R101 810* R101 810* R203 620* Download
International students from the rest of the world R165 210* R101 810* R267 020* Download
Deposit payable on acceptance of admission for 2021
Students from South Africa R13 060
Students from the SADC countries R48 390*
International students from the rest of Africa (non-SADC) R50 905*
Students from the rest of the world R82 605*
Application fee for 2021
Application fee (non-refundable; applicable to all students) R850

*Provisional international fees for 2021 .

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.
  • Demonstrate appreciation of the emerging financial technologies and their application in the financial services industry.

Core modules

The six core modules are compulsory:

  • Economic Development Perspectives in Africa
  • Issues in Banking and Finance
  • Small Business Finance
  • 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
  • Small Scale Enterprise Development

Block 3

  • Development Project Management
  • Economic Diplomacy
  • 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.
  • Demonstrate appreciation of the emerging financial technologies and their application in the financial services industry.

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.

Note: International qualifications require a South African Qualifications Authority (SAQA) evaluation certificate to evaluate your degree according to South African standards. USB’s International Affairs Office will handle your credential evaluation free of charge. Please enquire at [email protected].

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.

Recognition of Prior Learning
USB provides wider access to its programmes through its Recognition of Prior Learning (RPL) process. In line with the requirements of the Council on Higher Education (CHE), 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. These references will be required to give a detailed personal reference about the candidate 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 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. ​
  • Important: RPL candidates need to apply by 31 October to allow sufficient time for the assessment process.
PROGRAMME HEAD
Prof Meshach Aziakpono

Prof Meshach Aziakpono has a special interest in economic and financial integration, financial sector development in Africa, development finance, economic and financial modelling, and applied econometrics. He shares his research by publishing articles in journals and presenting papers at local and global conferences. He holds a PhD in Economics from the University of Free State.

Programme Ambassadors

These programme ambassadors are current students and alumni who support prospective students in their new stage of life and share their personal experience about studying at USB.

zinhle mncube

Zinhle Mncube
Community Industrialisation Manager at Knowledge Pele

[email protected]

Testimonials from our alumni

‘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.’

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

‘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.’

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

‘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.’

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

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.

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 August 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.

  • 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.

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PhD in Development Finance​​

PhD in Development Finance​

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

Due to high demand for the PhD in Development Finance programme, and limited supervisory capacity, we regret that we will not be accepting student applications for enrolment for the 2022 academic year. We have always strived to provide students with premium guidance in their academic pursuits, and have taken these measures to ensure that we maintain the quality of this experience. We apologise to you for any inconvenience.
Please refer back to this page early next year, as intake for the 2023 academic year will commence. The earlier you register, the better your chances of starting your PhD journey with us.

  • Research
  • Course
  • Fees
  • Structure & Content
  • Learning Philosophy
  • Admission Requirements
Course Overview
Course starts 25 January 2021
Application closes Applications Closed

The focus of USB’s internationally accredited PhD in Development Finance is doctoral 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. 

USB 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.

 

YEAR 1 *(1st intake)
2 blocks
Block 1
25 January – 6 February
Block 2
12 – 24 April
Following years
Full PhD registration awarded after completion of first year

 

 Programme tuition fees for 2021 2021 (1st year) 2022 (2nd year) Total Provisional Quotes
Students from South Africa R77 360 R50 365 R127 725 Download
Students from Southern African Development Community
(SADC) countries
R81 860 R54 865 R136 725 Download
International students from the rest of Africa (non-SADC countries) R86 890 R59 895 R146 785 Download
​International students from the rest of the world R86 890 R59 895 R146 785 Download
​​​​​​​Deposit payable on acceptance of admission​ for 2021
​​​​Students from South Africa R12 335
​​​​Students from Southern African Development Community
(SADC) countries
R40 930
International students from the rest of Africa
(non-SADC countries)
R43 445
​International students from the rest of the world R43 445
​​​​​​​Application fee​ for 2021
Application fee (non-refundable; applicable to all students) R850
  • Application fee: The application fee must accompany the application. The application fee is not refundable.
  • Travelling, accommodation and meals are for students’ own accounts.
  • USB reserves the right to change the fees at any time.

Overview

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

During the first year of this programme, you need to attend 2 blocks of 2 weeks each on the USB 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. 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.

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

  • A good master’s degree in Development Finance, Economics, Finance or allied field
  • A strong quantitative background.

NOTE: International students require a SAQA evaluation to evaluate your degree according to South African standards.  USB’s International Affairs Office will handle your credential evaluation free of charge.  Please complete an online application, upload all certificates to your application. The international office will conduct an in-house credential evaluation, after we received your submission and application fee, as part of the process.

PROGRAMME COORDINATOR
Ashenafi Fanta

Dr. Fanta holds a doctoral degree in Social and Economic Sciences (Corporate Finance) from Johannes Kepler University of Linz in Austria and Master’s degree in Accounting and Finance from Addis Ababa University in Ethiopia. Dr Fanta is multilingual and fluent in English, Amharic and Wolaitigna.

  • Who should enrol?
  • What will you gain?

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.

  • 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.
  • 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.
  • 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.
  • 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.
  • 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

“I researched available Masters programmes in Development Finance globally, and USB 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.”

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

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 USB must also be meaningful because we emphasise the creation of knowledge that is particularly relevant to African organisations.

  • Become an expert in development finance and to acquire applicable expertise
  • Contribute to a crucial understanding of development finance
  • Gain 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, USB 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.

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Postgraduate Diploma in Development Finance​

Postgraduate Diploma in Development Finance​

Become a development finance practitioner and help Africa grow where it matters

  • Modular
  • Blended Learning
  • Course
  • Fees
  • Structure & Content
  • Learning Philosophy
  • Admission Requirements
Course Overview
Course starts Beginning of 2022
Application closes 30 Nov (SA) | 31 Oct (international + RPL)

USB’s internationally accredited Postgraduate Diploma in Development Finance (PGDip DevFin) is particularly suited to help you unlock the skills needed to develop Africa where it matters. It will help you to design and implement African-driven solutions, and show you how to shape the policies and programmes to make this happen. You will also be exposed to skills that are critical for Africa’s future – such as responsible leadership, the management of risk and uncertainty, and the management of projects.

Growth initiatives in this context range from roads and energy plants to dams, schools, houses, hospitals, telecommunication infrastructure and small and medium-sized businesses.

Although the content of this programme is focused on Africa, the know-how acquired can be applied in any developing country. Over the past five years, students from over 18 countries attended the programme.

This qualification will enable you to work in development finance environments in both the public and private sectors. This PGDip can give you access to the MPhil in Development Finance, MBA (generalist and Project Management streams), and MPhil in Management Coaching.

NEW! This PGDip has been redesigned to give you unrivalled flexibility. Among others, you can choose the format (blended learning or modular) and duration (1 year or 2 years), making it easier for you to study while you work. See how USB’s redesigned PGDips can benefit you.

The dates for 2022 will be added once they have been finalised.

 

Application deadlines

South African applicants: 30 November

RPL applicants: 31 October

Applicants from (visa-exempt) SADC countries: 31 October

Applicants from the rest of the world: 31 October

The fees below are the tuition fees for 2021. Programme fees for 2022 will be published once this information becomes available.

Programme fees for 2021 Total Provisional Quote
Students from South Africa R115 830 Download
Students from the Southern African Development Community
(SADC) countries
R120 330 Download
Students from the rest of Africa (non-SADC) R125 360 Download
Students from the rest of the world R153 860 Download
Deposit payable on acceptance of admission for 2021
Students from South Africa R13 060
Students from the Southern African Development Community
(SADC) countries
R60 165
Students from the rest of Africa (non-SADC) R62 680
Students from the rest of the world R76 390
Application fee for 2021
Application fee (non-refundable; applicable to all students) R850
  • Application fee: The application fee must accompany the application. The application fee is not refundable.
  • Travelling, accommodation and meals are for students’ own accounts.
  • USB reserves the right to change the fees at any time.

Overview

Foundation phase modules and specialisation phase modules

The modules of the PGDip DevFin are split into a foundation phase (covering skills, frameworks and tools you can apply in any field of work) and a specialisation phase (programme-specific modules).

You need to do these 4 foundation phase modules:

  • Term 1: Understanding the World
  • Term 2: Responsible Leadership
  • Term 3: Managing of Projects
  • Term 4: Managing Risk and Uncertainty

 

You also need to do the 4 specialisation phase modules:

  • Term 1: Financing for Development
  • Term 2: Financial Analysis and Project Appraisal
  • Term 3: Financing Public Sector Projects
  • Term 4: M&E of Development Projects

 

Choose between 2 formats: Blended learning and modular

  • Blended Learning classes: Late-afternoon classes once every week for those doing their PGDip over 1 year, or once every fortnight for those doing their PGDip over 2 years. The blended learning classes are presented online (and also on campus depending on Covid restrictions). Classes are presented on Tuesday afternoons from 16:00 till 20:15, and for some foundation modules on Wednesday or Thursday afternoons from 16:00 till 20:15. The online classes are presented synchronously with the on-campus classes. The flexibility of digital class attendance means minimum time away from work. The blended learning delivery option opens up access to students from elsewhere in South Africa, from other African countries and even further afield. This also lowers the opportunity cost to obtain this PGDip as you can attend all classes online.
  • Modular classes: Four full blocks of classes spread over the year if you are doing the 1-year PGDip (i.e. morning and afternoon classes from Monday to Friday), or four blocks of either morning or afternoon classes per year if you are doing the two-year PGDip (i.e. morning or afternoon classes from Monday to Friday). The modular classes are presented on campus, which translates into in-class experience and focused studies without work interruptions.

Choose between 2 duration options: 1 year or 2 years

1-year PGDip

2-year PGDip

Number of modules: 8 Number of modules: 8
Delivery mode for all modules (foundation and specialisation):

  • Blended learning format: 1 late afternoon session per week for 40 weeks + 4 weeks of assessments
  • Modular format: 4 full modular blocks spread over the year (i.e. mornings and afternoons)
Delivery of foundation modules in Year 1:

  • Blended learning format: 1 late afternoon session once every second week
  • Modular format: 4 block weeks per year with classes either in the morning or the afternoon

Delivery of specialisation modules in Year 2:

  • Blended learning format: 1 late afternoon session once every second week
  • Modular format: 4 block weeks per year with classes either in the morning or the afternoon
Notes:

  • Each modular block runs from Monday to Friday, except the first modular block which runs from Monday to Saturday.
  • Students who select the 2-year option will be able to pay their fees over 2 years.

This programme provides skills to managers in the development finance environment to enable them implement and manage the design and financing of interventions that will help to grow South Africa as well as the greater Africa. The programme therefore equips entry-level to mid-level managers with the know-how to:

  • Provide financial and operational input in terms of development finance issues
  • Identify development projects or policies
  • Contribute to the design and implementation of structured policies and interventions to finance development needs, especially in Africa.

The value of this programme also lies in the integration of theory and practice, and in global business knowledge with African contextualisation. Students are provided with comprehensive support throughout the programme.

Academic qualifications and other admission criteria
The following minimum admission criteria are applicable:

  • Academic qualifications: A Bachelor’s degree in Economics, Finance, Accounting, Commerce or Management OR any other 3-year Bachelor’s degree with at least 2 years of relevant experience OR recognition of prior learning.
  • Selection test: SHL selection test. This test is done online.
  • Essay: You need to write an essay.
  • Additional documentation: A comprehensive CV indicating your work experience.
  • Highly recommended: Proficiency in English.

Note: International qualifications require a South African Qualifications Authority (SAQA) evaluation certificate to evaluate your degree according to South African standards. USB’s International Affairs Office will handle your credential evaluation free of charge. Please enquire at [email protected].

SHL selection test

You need to complete the SHL abilities selection test as part of your application process. The test consists of verbal, numerical and inductive reasoning tests that are used for selection, and identification of your development areas.

  • Duration: Approximately 1.5 hours.
  • Preparation: No preparation is required. You are encouraged to perform a practice test to familiarise yourself with the test format at: shl.com/shldirect/en-us/practice-tests/
  • How: The SHL test is online. You will be provided with a link after payment of the relevant fees.
  • When: You can only take the SHL test after starting your application because you will need a provisional student number. The link to the test is supplied after payment of the SHL selection test fee plus the PGDip in Development Finance application fee.
  • Cost: For fees, please see usb.ac.za/pgddevfin. See bank details under How to apply and use your provisional student number as reference.
  • Book: Contact USB on telephone 021 918 4239 or e-mail [email protected].
  • Additional information: shl.com/en/assessments/cognitive-ability/

Write an essay
An essay of between 400 and 500 words on the topic outlined below is to be submitted in pdf format:

USB aspires to be a source of value for a better world. How are your career goals aligned with being a source of value for a better world, and how would this postgraduate programme assist you in achieving your short-term (2 to 3 years) and long-term (10 years) career goals?

Recognition of prior learning
USB provides wider access to its programmes through its Recognition of Prior Learning (RPL) process. In line with the requirements of the Council for Higher Education (CHE), USB may admit up to 10% of its student body under RPL. In order to be admitted to a Postgraduate Diploma at USB, candidates should be in possession of a relevant degree or National Diploma at NQF level 7.

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 Postgraduate Diploma at USB have to adhere to the following:

  • Have at least an NQF 4 qualification (all school and academic certificates are required)
  • Have at least TEN years of working experience after obtaining a school leaving certificate, of which at least FIVE years should have been in a management or related professional position.
  • Submit a comprehensive CV, indicating detailed areas of responsibility as well as information of activities outside the work environment.
  • 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. These references will be required to give a detailed personal reference about the candidate 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 Postgraduate Diploma, 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.
  • Important: RPL candidates need to apply by 31 October to allow sufficient time for the assessment process.
  • Course
  • Fees
  • Structure & Content
  • Learning Philosophy
  • Admission Requirements
Course Overview
Course starts Beginning of 2022
Application closes 30 Nov (SA) | 31 Oct (international + RPL)

USB’s internationally accredited Postgraduate Diploma in Development Finance (PGDip DevFin) is particularly suited to help you unlock the skills needed to develop Africa where it matters. It will help you to design and implement African-driven solutions, and show you how to shape the policies and programmes to make this happen. You will also be exposed to skills that are critical for Africa’s future – such as responsible leadership, the management of risk and uncertainty, and the management of projects.

Growth initiatives in this context range from roads and energy plants to dams, schools, houses, hospitals, telecommunication infrastructure and small and medium-sized businesses.

Although the content of this programme is focused on Africa, the know-how acquired can be applied in any developing country. Over the past five years, students from over 18 countries attended the programme.

This qualification will enable you to work in development finance environments in both the public and private sectors. This PGDip can give you access to the MPhil in Development Finance, MBA (generalist and Project Management streams), and MPhil in Management Coaching.

NEW! This PGDip has been redesigned to give you unrivalled flexibility. Among others, you can choose the format (blended learning or modular) and duration (1 year or 2 years), making it easier for you to study while you work. See how USB’s redesigned PGDips can benefit you.

ABOUT BLENDED LEARNING: The blended learning format enables you to attend class on campus or remotely via an internet-linked laptop. This means you will be able to immerse yourself in a premium learning experience from wherever you are in the world. We have been investing in this technology since 2015 and our lecturers are trained in the art of virtual facilitation and teaching. See how blended learning works at USB.

These are the dates for 2021. The dates for 2022 will be added once they have been finalised.

 

Application deadlines

  • South African applicants: 30 November
  • RPL applicants: 31 October
  • Applicants from (visa-exempt) SADC countries: 31 October
  • Applicants from the rest of the world: 31 October
Block 1
15 – 19 February (Virtual orientation on Monday (full day) and lectures from Tuesday to Friday from 16:00-20:15)
Thereafter
Every Tuesday evening blended from 16:00-20:15 commencing 23 February
Block 2
22 - 27 November (on campus) - elective week

The fees below are the tuition fees for 2021. Programme fees for 2022 will be published once this information becomes available.

Programme fees for 2021 Total Provisional Quote
Students from South Africa R115 830 Download
Students from the Southern African Development Community
(SADC) countries
R120 330 Download
Students from the rest of Africa (non-SADC) R125 360 Download
Students from the rest of the world R153 860 Download
Deposit payable on acceptance of admission for 2021
Students from South Africa R13 060
Students from the Southern African Development Community
(SADC) countries
R60 165
Students from the rest of Africa (non-SADC) R62 680
Students from the rest of the world R76 390
Application fee for 2021
Application fee (non-refundable; applicable to all students) R850
  • Application fee: The application fee must accompany the application. The application fee is not refundable.
  • Travelling, accommodation and meals are for students’ own accounts.
  • USB reserves the right to change the fees at any time.

Overview

Foundation phase modules and specialisation phase modules

The modules of the PGDip DevFin are split into a foundation phase (covering skills, frameworks and tools you can apply in any field of work) and a specialisation phase (programme-specific modules).

You need to do these 4 foundation phase modules:

  • Term 1: Understanding the World
  • Term 2: Responsible Leadership
  • Term 3: Managing of Projects
  • Term 4: Managing Risk and Uncertainty

 

You also need to do the 4 specialisation phase modules:

  • Term 1: Financing for Development
  • Term 2: Financial Analysis and Project Appraisal
  • Term 3: Financing Public Sector Projects
  • Term 4: M&E of Development Projects

 

Choose between 2 formats: Blended learning and modular

  • Blended Learning classes: Late-afternoon classes once every week for those doing their PGDip over 1 year, or once every fortnight for those doing their PGDip over 2 years. The blended learning classes are presented online (and also on campus depending on Covid restrictions). Classes are presented on Tuesday afternoons from 16:00 till 20:15, and for some foundation modules on Wednesday or Thursday afternoons from 16:00 till 20:15. The online classes are presented synchronously with the on-campus classes. The flexibility of digital class attendance means minimum time away from work. The blended learning delivery option opens up access to students from elsewhere in South Africa, from other African countries and even further afield. This also lowers the opportunity cost to obtain this PGDip as you can attend all classes online.
  • Modular classes: Four full blocks of classes spread over the year if you are doing the 1-year PGDip (i.e. morning and afternoon classes from Monday to Friday), or four blocks of either morning or afternoon classes per year if you are doing the two-year PGDip (i.e. morning or afternoon classes from Monday to Friday). The modular classes are presented on campus, which translates into in-class experience and focused studies without work interruptions.

Choose between 2 duration options: 1 year or 2 years

1-year PGDip

2-year PGDip

Number of modules: 8 Number of modules: 8
Delivery mode for all modules (foundation and specialisation):

  • Blended learning format: 1 late afternoon session per week for 40 weeks + 4 weeks of assessments
  • Modular format: 4 full modular blocks spread over the year (i.e. mornings and afternoons)
Delivery of foundation modules in Year 1:

  • Blended learning format: 1 late afternoon session once every second week
  • Modular format: 4 block weeks per year with classes either in the morning or the afternoon

Delivery of specialisation modules in Year 2:

  • Blended learning format: 1 late afternoon session once every second week
  • Modular format: 4 block weeks per year with classes either in the morning or the afternoon
Notes:

  • Each modular block runs from Monday to Friday, except the first modular block which runs from Monday to Saturday.
  • Students who select the 2-year option will be able to pay their fees over 2 years.

This programme provides skills to managers in the development finance environment to enable them implement and manage the design and financing of interventions that will help to grow South Africa as well as the greater Africa. The programme therefore equips entry-level to mid-level managers with the know-how to:

  • Provide financial and operational input in terms of development finance issues
  • Identify development projects or policies
  • Contribute to the design and implementation of structured policies and interventions to finance development needs, especially in Africa.

The value of this programme also lies in the integration of theory and practice, and in global business knowledge with African contextualisation. Students are provided with comprehensive support throughout the programme.

Academic qualifications and other admission criteria
The following minimum admission criteria are applicable:

  • Academic qualifications: A Bachelor’s degree in Economics, Finance, Accounting, Commerce or Management OR any other 3-year Bachelor’s degree with at least 2 years of relevant experience OR recognition of prior learning.
  • Selection test: SHL selection test. This test is done online.
  • Essay: You need to write an essay.
  • Additional documentation: A comprehensive CV indicating your work experience.
  • Highly recommended: Proficiency in English.

Note: International qualifications require a South African Qualifications Authority (SAQA) evaluation certificate to evaluate your degree according to South African standards. USB’s International Affairs Office will handle your credential evaluation free of charge. Please enquire at [email protected].

SHL selection test

You need to complete the SHL abilities selection test as part of your application process. The test consists of verbal, numerical and inductive reasoning tests that are used for selection, and identification of your development areas.

  • Duration: Approximately 1.5 hours.
  • Preparation: No preparation is required. You are encouraged to perform a practice test to familiarise yourself with the test format at: shl.com/shldirect/en-us/practice-tests/
  • How: The SHL test is online. You will be provided with a link after payment of the relevant fees.
  • When: You can only take the SHL test after starting your application because you will need a provisional student number. The link to the test is supplied after payment of the SHL selection test fee plus the PGDip in Development Finance application fee.
  • Cost: For fees, please see usb.ac.za/pgddevfin. See bank details under How to apply and use your provisional student number as reference.
  • Book: Contact USB on telephone 021 918 4239 or e-mail [email protected].
  • Additional information: shl.com/en/assessments/cognitive-ability/

Write an essay
An essay of between 400 and 500 words on the topic outlined below is to be submitted in pdf format:

USB aspires to be a source of value for a better world. How are your career goals aligned with being a source of value for a better world, and how would this postgraduate programme assist you in achieving your short-term (2 to 3 years) and long-term (10 years) career goals?

Recognition of prior learning
USB provides wider access to its programmes through its Recognition of Prior Learning (RPL) process. In line with the requirements of the Council for Higher Education (CHE), USB may admit up to 10% of its student body under RPL. In order to be admitted to a Postgraduate Diploma at USB, candidates should be in possession of a relevant degree or National Diploma at NQF level 7.

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 Postgraduate Diploma at USB have to adhere to the following:

  • Have at least an NQF 4 qualification (all school and academic certificates are required)
  • Have at least TEN years of working experience after obtaining a school leaving certificate, of which at least FIVE years should have been in a management or related professional position.
  • Submit a comprehensive CV, indicating detailed areas of responsibility as well as information of activities outside the work environment.
  • 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. These references will be required to give a detailed personal reference about the candidate 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 Postgraduate Diploma, 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.
  • Important: RPL candidates need to apply by 31 October to allow sufficient time for the assessment process.
PROGRAMME HEAD
Prof Meshach Aziakpono

Prof Meshach Aziakpono has a special interest in economic and financial integration, financial sector development in Africa, development finance, economic and financial modelling, and applied econometrics. He shares his research by publishing articles in journals and presenting papers at local and global conferences. He holds a PhD in Economics from the University of Free State.

Programme Ambassadors

These programme ambassadors are current students and alumni who support prospective students in their new stage of life and share their personal experience about studying at USB.

Ronel-Sindo

Ronel Sindo
Manager: Client Services at Futuregrowth Asset Management

[email protected]

MBA Graduates USB
  • Who should enrol?
  • What will you gain?

If you are an entry-level or mid-level manager who is interested in a career in development finance, this is the programme you should consider. Graduates typically work in the financial services industry, public institutions, banks, companies or corporates.

  • Help Africa to grow sustainably: This PGDip will enable you to work in the development finance environment and to implement and manage the design and financing of interventions aimed at growth in South Africa as well as the greater Africa.
  • Provide financial and operational input in terms of development finance issues: You will be able to analyse the structure of African economies and the role of financial markets in development.
  • Shape development projects and policies: You will be able to identify development projects or policies, and contribute to the design and implementation of policies and interventions to finance development needs.
  • Provide input for reports: You will be able to write analytical position papers, which is important for policy implementation and research in development finance.
  • Build valuable networks: The rich diversity of students will enable you to build valuable networks. Over the past five years students from over 18 countries have attended this programme.
  • Responsible leadership skills: On this PGDip, an entire module is dedicated to your development as a responsible leader.
  • Understanding context: You will also do a module on understanding the world. This will give you the bigger picture in terms of the global, African and local ecosystems in which you operate.

 

Testimonials from our alumni

‘This programme opened my eyes to our role as Africans in achieving development and access to finance and wealth creation for our generation and generations to come. Diverse experiences and expertise in class made learning more interesting and it created a lifelong network for me. This PGDip has changed my life. I now live with a vision for development.’

Mphumleli Dyushu, PGDip in Development Finance, Director: Planning and Reporting, Department of Rural Development and Agrarian Reform,

‘USB’s PGDip in Development Finance has made me realise the huge gap that African countries have with regard to financial stability and development. We as Africans need to identify innovative ways to finance and grow development. USB’s PGDip in Development Finance helps us with this.’

Chris Peters, PGDip in Development Finance, Post Investment Manager, Small Enterprise Finance Agency, East London,

‘As a young South African woman, I have a role in the development of this continent that I call home. This programme has allowed me to fulfil this role.’

Ritsep Mataboge, PGDip in Development Finance, Manager, Commercial Banking Rest of Africa, Standard Bank, Johannesburg ,

FAQs

Not necessarily. You need a relevant Bachelor’s degree with 2+ years working experience in order to be considered.

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.

Stellenbosch University’s main campus will be in a position to provide you with more information:
http://www0.sun.ac.za/pgstudies/postgraduate-funding-and-support.html

The closing dates for each programme appear on the web page for that programme. In general, the closing dates for international applicants from non-SADC African countries and rest of world close approximately three months prior to the closing date for applicants from South Africa and (visa-exempt) SADC countries. Obtaining a study permit (study visa) from the South African authorities takes up to 12 weeks from the date of being offered a place on a programme at USB – hence the early application deadline for international students. RPL candidates (all programmes) need to apply by 30 October each year. Late applications after the closing dates will only be considered in exceptional circumstances.

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