Masters Accounting

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 07 March
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 2022.

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 (on campus)
Block 1
07 - 19 March
Block 2
15 - 27 August

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 South African Qualifications Authority (SAQA) evaluation certificate to evaluate their degrees according to South African standards. USB’s International Affairs Office will handle the credential evaluations of international students free of charge. You therefore need to complete the online application, and upload all certificates to your application. The International Office will, as part of the application process, conduct an in-house credential evaluation after you have submitted your application.
  • All degrees undergo a formal vetting process to eliminate fraudulent applications.

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 14 February
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 weekly blended learning classes (using an internet-linked laptop) in Year 1, and one on-campus block (which covers the electives) in Year 2. (The on-campus block will be delivered online in case of Covid-19 restrictions.) See how blended learning works at USB.

These are the dates for 2022.

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 (All classes remote in the first year, electives in 2nd year will be on campus)
Block 1 (Remote)
14 – 18 February (Orientation on 14 February)
Thereafter
Every Monday evening from 16:00-20:15 until 30 November (remote)

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 students require a South African Qualifications Authority (SAQA) evaluation certificate to evaluate their degrees according to South African standards. USB’s International Affairs Office will handle the credential evaluations of international students free of charge. You therefore need to complete the online application, and upload all certificates to your application. The International Office will, as part of the application process, conduct an in-house credential evaluation after you have submitted your application.
  • All degrees undergo a formal vetting process to eliminate fraudulent applications.

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.


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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