PhD Finance

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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PhD in Business Management and Administration

PhD in Business Management
and Administration

Find solutions to real-world business problems through in-depth research

  • Research
  • Course
  • Fees
  • Structure & Content
  • Learning Philosophy
  • Admission Requirements
Course Overview
Course starts Dependent on application
Application closes Rolling intake

USB’s internationally accredited PhD in Business Management and Administration is aimed at those who want to undertake supervised research to become an expert in their field. This requires a contribution to new knowledge through rigorous research. With USB’s PhD in Business Management, you will help to find solutions to pressing business problems in the real world. USB emphasises the creation of knowledge that is particularly relevant to African organisations.

This degree will stand you in good stead if you want to establish yourself as an expert in a particular field, and if you want to work in industries focused on research and innovation, or at an academic institution.

Multi-year programme

At least 2 years of registration

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

 

 Programme tuition fees for 2021 2021 (1st year) 2022 (2nd year) Total Provisional Quote
Students from South Africa R50 365 R50 365 R100 730 Download
Students from Southern African Development Community
(SADC) countries
R54 865 R54 865 R109 730 Download
International students from the rest of Africa (non-SADC countries) R59 895 R59 895 R119 790 Download
​International students from the rest of the world R59 895 R58 895 R119 790 Download
​​​​​​​Deposit payable on acceptance of admission​ for 2021
​​​​Students from South Africa R12 335
​​​​Students from Southern African Development Community
(SADC) countries
R27 433
International students from the rest of Africa
(non-SADC countries)
R29 948
​International students from the rest of the world R29 948
​​​​​​​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

USB’s PhD in Business Management and Administration is awarded solely on the successful completion of a research-based dissertation. This dissertation must contribute to and enrich the academic knowledge and understanding of theory and professional practice. The minimum period of registration for the PhD is two years.

The thesis may be written as a single whole, or may be by publication, where a number of articles and/or chapters are presented together with an introduction and conclusion that draws the parts into the whole.

The preparation of your pre-proposal

Every application must include a pre-proposal, written in scientific language, on your intended research. The pre-proposal serves to demonstrate whether you have a mature approach to high-level research. It also helps us evaluate whether the topic is viable and whether we can provide appropriate supervision and resources. The world count of the pre-proposal is approximately 4 000 words (excluding references). This is what the pre-proposal must cover:

  • Title
  • Introduction
  • Literature review
  • Research methodology
  • Potential contribution of the research
  • References

The dissertation pre-proposal will also help USB to determine whether you have thought through your interest in and commitment to the programme, and whether you are suitable for admission to the USB PhD programme.

The preparation of your comprehensive research proposal

Once your pre-proposal has been approved, you need to submit a comprehensive research proposal. Your provisional supervisor will guide you in the preparation of your proposal. Your comprehensive research proposal will serve as your road map for the completion of your PhD. You will be formally registered for your PhD once your comprehensive research proposal has been accepted.

The actual research process and its deliverables

Through their research, PhD registrants must demonstrate the following:

  • Expertise, knowledge and reflection of theories and methods at the forefront of a field or discipline
  • The ability to apply theories, acquire new knowledge and generate new insights to confront practical and theoretical problems with the aim of proposing relevant and ethical solutions
  • The ability to communicate your work to an audience of researchers
  • The ability to take part as a researcher in the international research community

Your final dissertation will be evaluated by three examiners. This will be followed by a public oral defence of the dissertation – the viva voce.

The PhD in Business Management and Administration is a combination of scientific rigour and managerial relevance. To develop applicable knowledge underpinned by theory and practice, PhD students need to conduct research on real-world problems, and develop personal and transferable skills which can be used in a range of applied situations. ​USB emphasises the creation of knowledge that is relevant to South African organisations, and from there to beyond our borders. This forms part of our social responsibility to strengthen our country to the benefit of all those involved.

  • Academic requirements: A relevant master’s degree in an appropriate management-related area, with an average of 65%. The major part of the master’s degree (weight within degree) must consist of a written thesis, of which a grade of at least 65% should be obtained.
  • Minimum period of registration(residency): Two years

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 we have received your submission and application fee. Please enquire at [email protected].

PROGRAMME HEAD
Dr Lara Skelly

Dr Lara Skelly’s career at USB began as a research manager in 2015, and the role of the head of USB’s PhD in Business Management and Administration was added in June 2017. She has a special interest in how to increase the impact of research.

In our process, we encourage prospective PhD students to provide some original and independent thinking in the pre-proposal. Prior contact with a potential supervisor may make it difficult to distinguish the applicant’s thinking from the supervisor’s guidance.

You can find information about funding on our website. Additionally, please feel free to explore the funding opportunities available via the Stellenbosch University Postgraduate Office (http://www.sun.ac.za/english/research-innovation/Research-Development/postgraduate-funding-support)

  1. Contribution: What makes a PhD different to any other degree is that it must contribute to knowledge. At USB, we understand this contribution to be a theoretical one. (Read more about contribution here, and the definition of theory here). Try and avoid submitting a pre-proposal that reads more like a consulting report focusing on a specific context.
  2. Writing: PhD students should be able to write in alignment with the standard academic conventions, which includes full referencing. Pre-proposals are submitted to a text-matching programme to check for potential text recycling.
  3. Fit with USB’s interests: We strongly prefer projects in the private and non-profit sectors, as opposed to those in the public sector.

As mentioned, we encourage original thinking in the pre-proposal, and sharing such examples will make it difficult to distinguish your thinking from third-party ideas.

Unfortunately our minimum requirements are fixed, and currently we do not offer any supplementary modules that will help you make up the minimum.

The allocation of appropriate supervisors is the responsibility of USB. While we do work with external supervisors regularly, the appointment of an external supervisor is motivated by the internal supervisor, and an existing relationship between supervisors have been found to be most beneficial to the success of the student’s project.

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