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Structure and content


  • Attend 3 blocks spread over 2 years: The MDevF is presented as a modular programme over two years. Students attend three class contact sessions of a fortnight each over a period of two years, and complete a research assignment.
  • Core subjects, electives and research assignment: Students need to do the six core modules, as well as two electives chosen from a list of options. These electives provide areas of specialisation. Students also need to write a research assignment.
  • Course methodology: A mix of highly interactive lectures/course material, case studies and a workshop on financial risk and structure. Handbooks, guidelines, articles, journal materials and a matrix /checklists will serve as reference material for future project design and delivery.
  • Credits: 180 credits (120 credits for course work and 60 credits for the research assignment)

Core modules

The core modules consist of:

  • Economic Development Perspectives in Africa
  • Issues in Banking and Finance
  • Microfinance
  • Project Finance
  • Governance and Ethics
  • Research Methods in Development Finance


  • Small-scale Enterprise Development
  • Development Project Management
  • African and Emerging Financial Markets
  • Environmental Finance
  • Business Forecasting and Econometric Analysis
  • Public Sector Finance
  • Infrastructural Finance
  • Corporate Finance
  • Leadership Development​
  • Financial Sector Regulation and Development
  • Investment Promotion

Research assignment

The research assignment forms an integral part of this master’s programme and carries a total of 60 credits which represent one-third of the credit requirements of the programme. The research assignment is usually between 15 000 – 25 000 words on a topic of the student’s choice. Students are encouraged to base their research assignments on topics of direct professional interest to them