Business

Bachelor of Financial Engineering

The Bachelor of Financial Engineering is a four-year programme that prepares students for quantitative finance, financial modelling and risk management. Students study financial mathematics, derivatives, risk management, financial modelling and computational finance. The programme combines mathematics, finance and computing for quantitative financial analysis.

Students develop competencies in financial modelling, derivative pricing, risk management, quantitative analysis, programming and financial data analysis. They learn to build financial models, price derivatives, assess risk and develop trading strategies. The programme covers mathematics, statistics, finance, programming and financial engineering.

In Kenya, financial engineering is an emerging field with growing demand in banking, insurance and investment. Kenya's financial sector including Nairobi Securities Exchange and fintech innovation creates opportunities. Graduates find roles in banks, insurance companies, investment firms, fintech companies and consulting firms.

Teaching is delivered through lectures, computer laboratory sessions, modelling projects, industrial attachment and research projects. Students build financial models, write code, analyse data and undertake industrial attachment. The programme includes a final-year research or modelling project.

Graduates pursue careers as financial engineers, quantitative analysts, risk analysts, financial modellers and data analysts. Some work for banks or insurance companies. Others join investment firms, fintech companies or consulting firms.

This programme is ideal for individuals with strong mathematics aptitude, programming interest and finance knowledge.

Duration: 4 years
Public, up to: Ksh 244,800
Job market: High

The programme

What you study, how long it takes, and how it is delivered.

Practicalities

Study mode: Full-time
Attachment: 3 months
Average class: 30 students
Award: Bachelor

What you study

10 subjects

Financial Mathematics and Calculus
Derivatives and Risk Management
Financial Modelling and Simulation
Quantitative Finance
Programming for Finance
Statistics and Econometrics
Portfolio Theory and Management
Financial Markets and Instruments
Machine Learning in Finance
Research Methods

Modules

12 in the programme

Calculus and Linear Algebra
Year 1Semester 13 creditsCore
Mathematical foundations for financial engineering. The module covers theoretical foundations, practical applications and industry-relevant skills, assessed through continuous assessment tests, cou...
Introduction to Finance
Year 1Semester 23 creditsCore
Financial markets, instruments and basic finance principles. The module covers theoretical foundations, practical applications and industry-relevant skills, assessed through continuous assessment t...
Programming for Finance
Year 1Semester 33 creditsCore
Python, R and programming for financial applications. The module covers theoretical foundations, practical applications and industry-relevant skills, assessed through continuous assessment tests, c...
Financial Mathematics
Year 2Semester 13 creditsCore
Financial Mathematics: Time value of money, stochastic calculus and mathematical finance Covers theoretical foundations, problem-solving techniques, and practical applications.
Statistics and Econometrics
Year 2Semester 23 creditsCore
Statistical methods, regression and econometric modelling. The module covers theoretical foundations, practical applications and industry-relevant skills, assessed through continuous assessment tes...
Derivatives and Risk Management
Year 2Semester 33 creditsCore
Derivatives and Risk Management: Options, futures, swaps, derivative pricing and risk management Covers planning, organising, leadership, and control in organisational contexts.
Financial Modelling and Simulation
Year 3Semester 13 creditsCore
Financial Modelling and Simulation: Building financial models, Monte Carlo simulation and scenario analysis Covers theoretical foundations, practical applications, and industry-relevant skills.
Portfolio Theory and Management
Year 3Semester 23 creditsCore
Portfolio Theory and Management: Portfolio optimisation, asset allocation and investment management Covers planning, organising, leadership, and control in organisational contexts.
Quantitative Finance
Year 3Semester 33 creditsCore
Quantitative Finance: Quantitative methods in finance, algorithmic trading and market analysis Covers financial reporting, budgeting, investment analysis, and regulatory frameworks.
Machine Learning in Finance
Year 4Semester 13 creditsCore
Machine Learning in Finance: Machine learning applications in finance, predictive modelling and AI Covers financial reporting, budgeting, investment analysis, and regulatory frameworks.
Financial Markets and Instruments
Year 4Semester 23 creditsCore
Financial Markets and Instruments: Financial markets structure, trading mechanisms and instruments Covers theoretical foundations, practical applications, and industry-relevant skills.
Final Year Research/Modelling Project
Year 4Semester 36 creditsCore
Independent financial modelling project or research. The module covers theoretical foundations, practical applications and industry-relevant skills, assessed through continuous assessment tests, co...

Specialisations

Quantitative Finance
Specialization in Quantitative Finance, preparing graduates for careers such as financial-analyst. This specialisation equips graduates with discipline-specific competencies for professional practice in Kenya and the East African region, with pathways to postgraduate study and professional certification.
Risk Management
Specialization in Risk Management, preparing graduates for careers such as financial-analyst. This specialisation equips graduates with discipline-specific competencies for professional practice in Kenya and the East African region, with pathways to postgraduate study and professional certification.
Portfolio Management
Specialization in Portfolio Management, preparing graduates for careers such as financial-analyst. This specialisation equips graduates with discipline-specific competencies for professional practice in Kenya and the East African region, with pathways to postgraduate study and professional certification.
Machine Learning in Finance
Specialization in Machine Learning in Finance, preparing graduates for careers such as financial-analyst.
Derivatives Trading
Specialization in Derivatives Trading, preparing graduates for careers such as financial-analyst. This specialisation equips graduates with discipline-specific competencies for professional practice in Kenya and the East African region, with pathways to postgraduate study and professional certification.
Financial Technology
Specialization in Financial Technology, preparing graduates for careers such as financial-analyst. This specialisation equips graduates with discipline-specific competencies for professional practice in Kenya and the East African region, with pathways to postgraduate study and professional certification.

A day as a student

A typical day combines morning lectures on financial mathematics or derivatives with afternoon computer laboratory sessions or modelling projects. Students may build financial models, write Python or R code, analyse market data or work on risk management projects.

The trade offs

In its favour

High demand in Kenya's growing financial and fintech sectors
Competitive salaries and career growth
Combines finance, mathematics and technology
Opportunity to work in quantitative finance

Against it

Requires strong mathematics and programming aptitude
Rapidly evolving field requires continuous learning
Limited number of universities offering this programme
Professional certifications like CFA may be expected

What it costs

Tuition at both ends of the market, and how to pay for it.

What it costs, and where

Against 331 business courses

Public130k to 245k

130k at JKUAT245k at Kirinyaga University

Annual tuition in Kenyan shillings, rounded. The upright tick is the median for this field, so a bar sitting entirely to its right is an expensive programme by the standards of its own subject.

The fine print

JKUAT 130-160K/yr (jkuat.ac.ke), Kirinyaga 244.8K (newsblaze). Private: unverified.

Students may access HELB loans and county bursaries. Some financial institutions offer internship stipends.

Funding options

Higher Education Loans Board (HELB)
LoanKsh 60,000
National Government Affirmative Action Fund (NGAAF)
Bursary
County Government Bursaries
Bursary

Scholarships

5 recorded

Higher Education Fund (HEF)
BursaryKenyan
Kenyan undergraduate students placed by KUCCPS in public universities
Institution of Engineers of Kenya (IEK) Student Scholarships
ScholarshipKenyan
Student members of IEK pursuing accredited engineering programmes
KCDF More Girls for Engineering Opportunities
ScholarshipKenyan
Young women from disadvantaged backgrounds pursuing engineering
County Government Bursaries
BursaryKenyan
Residents of respective counties
Higher Education Loans Board (HELB) Loan
LoanKsh 60,000Kenyan
Kenyan students admitted to recognised universities

Getting in

The grades, the alternatives, and who accredits the award.

What you need

KCSE mean grade: C+
Alternative entry: Relevant diploma or equivalent qualification

Mathematics A
C+
English or Kiswahili
C+
Any Group II, III, IV or V subject
C+
Any Group II, III, IV or V subject
C+

How you are assessed

4 components

Continuous Assessment Tests (CATs)
Coursework20% of the mark
Final Examination
Coursework40% of the mark
Modelling Projects and Assignments
Coursework30% of the mark
Industrial Attachment Report
Coursework10% of the mark

Accreditation

Accredited by the Commission for University Education (CUE).

Accredited by

Commission for University Education (CUE)
InstitutionalRequired

Where it leads

The roles it opens, and what you leave with.

Where graduates go

5 roles

Data Analyst
High demandKsh 70,000 to Ksh 280,000
Analyses financial data for insights and decision support
Risk Analyst
High demandKsh 80,000 to Ksh 300,000
Assesses and manages financial risk in institutions
Financial Modeller
Moderate demandKsh 80,000 to Ksh 300,000
Builds and maintains financial models for decision-making
Quantitative Analyst
High demandKsh 100,000 to Ksh 400,000
Applies quantitative methods to financial analysis and trading
Financial Engineer
High demandKsh 100,000 to Ksh 400,000
Develops financial models and quantitative solutions

Graduate outcomes

Graduates work as financial engineers, quantitative analysts, risk analysts, financial modellers and data analysts in banks, insurance companies, investment firms, fintech companies and consulting firms.

Where these fields lead

8 careers

Tools you will learn

Microsoft Excel
SoftwarePrimary
Spreadsheet software for financial modelling, data analysis, accounting worksheets, and business reporting — essential for business graduates.
QuickBooks
SoftwarePrimary
Accounting software widely used by SMEs in Kenya for bookkeeping, invoicing, expense tracking, and financial reporting.
SAP ERP
Software
Enterprise resource planning software used by large organisations for integrated business management including finance, procurement, and HR modules.
Power BI
Software
Business analytics tool for data visualisation, dashboard creation, and business intelligence reporting.
Microsoft Office Suite
Software
Word processing, presentations, and communication tools essential for business documentation and reporting.

Certifications

Industry links

Common misconceptions

Financial engineering is just about accounting
Financial engineering involves mathematics, programming, derivatives and quantitative modelling.
Financial engineering is only for banks
Financial engineers work in insurance, investment, fintech and consulting.
You need to be a genius to study financial engineering
The programme builds mathematical and programming skills progressively.
Financial engineering has limited jobs in Kenya
Kenya's growing financial sector and fintech innovation create demand.