Business

Bachelor of Science in Microfinance

The Bachelor of Science in Microfinance is a programme that prepares students for careers in microfinance institutions, financial inclusion and rural finance. Offered at Kenya Methodist University through the School of Business and Economics, the programme equips graduates with skills in microcredit operations, financial management, poverty analysis and small enterprise development.

The curriculum covers principles of microfinance, microfinance development perspectives, micro-credit practice, microfinance policy and regulation, microfinance control systems, microfinance reporting, poverty analysis, financial management, accounting, banking operations, risk management, entrepreneurship, business statistics, economics, research methods, project management, rural finance, financial inclusion and group dynamics. Students develop both financial management skills and understanding of poverty alleviation through financial services.

Kenya's microfinance sector plays a critical role in providing financial services to low-income households and small businesses that lack access to commercial banking. The programme responds to the need for professionals who can manage microfinance institutions, design financial products for underserved populations and support financial inclusion initiatives.

The programme is delivered through lectures, case studies, field visits to microfinance institutions, industrial attachment and a research project. Students gain hands-on experience in microcredit appraisal, group lending methodologies, financial reporting and client assessment through field visits and attachment at microfinance institutions, SACCOs and community banks.

Graduates pursue careers as microfinance officers, credit officers, loan officers, branch managers, financial inclusion officers, rural finance officers, SACCO managers, enterprise development officers and financial consultants in microfinance institutions, SACCOs, banks, NGOs, government agencies and development organisations. They can also pursue postgraduate study in finance, banking or development studies.

Prospective students should have strong analytical skills, an interest in finance and a commitment to financial inclusion and poverty alleviation. The programme is suitable for students passionate about using financial services to create social impact.

Duration: 4 years
Private, up to: Ksh 242,800
Job market: Moderate

The programme

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

Practicalities

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

What you study

10 subjects

Principles of Microfinance
Micro-credit Practice and Lending Methodologies
Microfinance Policy and Regulation
Financial Management and Accounting
Poverty Analysis and Financial Inclusion
Banking Operations and Risk Management
Entrepreneurship and Small Enterprise Development
Rural Finance and Agricultural Lending
Group Dynamics and Community Development
Research Methods and Project Management

Modules

11 in the programme

Principles of Microfinance
Year 1Semester 13 creditsCore
Introduces microfinance concepts, history, theoretical foundations, microfinance models, financial inclusion and the role of microfinance in poverty alleviation.
Financial Accounting and Management
Year 1Semester 13 creditsCore
Covers financial accounting principles, bookkeeping, financial statements, cost accounting and financial management for microfinance institutions.
Microeconomics and Macroeconomics
Year 1Semester 23 creditsCore
Covers economic principles, market structures, supply and demand, national income, monetary policy and economic environments affecting microfinance.
Micro-credit Practice and Lending Methodologies
Year 2Semester 13 creditsCore
Covers microcredit lending methodologies including group lending, individual lending, credit appraisal, loan disbursement and recovery techniques.
Microfinance Policy and Regulation
Year 2Semester 13 creditsCore
Covers regulatory frameworks for microfinance in Kenya, CBK regulations, SACCO regulations, consumer protection and compliance management.
Banking Operations and Risk Management
Year 2Semester 23 creditsCore
Covers banking operations, deposit mobilisation, treasury management, credit risk, operational risk, liquidity risk and risk mitigation strategies.
Poverty Analysis and Financial Inclusion
Year 3Semester 13 creditsCore
Covers poverty measurement, poverty dynamics, financial inclusion indicators, digital financial services and the role of finance in poverty reduction.
Entrepreneurship and Small Enterprise Development
Year 3Semester 23 creditsCore
Covers entrepreneurship principles, business plan development, small enterprise management, enterprise financing and business development services.
Microfinance Control Systems and Reporting
Year 3Semester 23 creditsCore
Covers internal controls, financial reporting for microfinance institutions, performance monitoring, portfolio quality indicators and management information systems.
Rural Finance and Agricultural Lending
Year 4Semester 13 creditsCore
Covers rural financial markets, agricultural lending, value chain finance, weather-indexed insurance and financial services for rural communities.
Research Project in Microfinance
Year 4Semester 26 creditsCore
An independent research project on a microfinance or financial inclusion topic, assessed through a written dissertation and oral presentation.

Specialisations

Microcredit and Lending Operations
Focuses on credit appraisal, lending methodologies, loan portfolio management and credit risk for careers in microcredit operations.
Financial Inclusion and Digital Finance
Specialises in digital financial services, mobile money, agent banking and financial inclusion policy for careers in fintech and development.
SACCO Management
Focuses on SACCO operations, governance, regulation and management for careers in the cooperative financial sector.
Rural and Agricultural Finance
Specialises in rural financial services, agricultural lending and value chain finance for careers in rural development finance.

A day as a student

A typical day begins with a morning lecture on microfinance principles or financial management, followed by a case study discussion on microcredit lending methodologies. Afternoon sessions may include a group project analysing a microfinance institution's operations, a statistics practical using financial data, or a field visit to a local SACCO or microfinance branch. Students also work on research assignments examining financial inclusion challenges in Kenyan communities.

The trade offs

In its favour

Microfinance is a growing sector in Kenya with increasing demand for qualified professionals as financial inclusion expands.
The programme combines finance skills with social impact, making it a meaningful career for students passionate about poverty alleviation.
Graduates have versatile career options across microfinance institutions, banks, SACCOs, NGOs and government agencies.

Against it

Microfinance is a specialised field that may limit career mobility compared to broader finance or business degrees.
Salaries in microfinance institutions may be lower than in commercial banking, particularly at entry level.

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

Private120k to 243k

120k at Kenya Methodist University243k at Daystar 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

KEMU 120K/yr, MUA 186K, Daystar 242.8K (mwafrikah.com, KUCCPS). No public univ offers BSc Microfinance.

Students can access HELB loans. KeMU offers internal financial aid for qualifying students.

Funding options

HELB Loan

Scholarships

1 recorded

HELB Loan
LoanKsh 60,000Kenyan
Kenyan undergraduate students enrolled in accredited programmes at recognised universities

Getting in

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

What you need

KCSE mean grade: C+
Alternative entry: Diploma in a relevant discipline from a recognised institution with at least a credit pass. Credit transfers may be granted for relevant prior learning.

Mathematics
C
English or Kiswahili
C

How you are assessed

4 components

Continuous Assessment Tests
Written examination30% of the mark
Mid-semester and end-of-semester written tests covering microfinance principles, accounting and economics.
Case Study and Field Visit Reports
Practicum40% of the mark
Assessment of case study analyses, field visit reports to microfinance institutions and lending methodology exercises.
Industrial Attachment Report
Practicum100% of the mark
Assessment of performance during industrial attachment at a microfinance institution, SACCO, bank or development organisation.
Research Project
Project100% of the mark
A final-year research project on a microfinance or financial inclusion topic, assessed through a written dissertation and oral presentation.

Accreditation

Accredited by the Commission for University Education (CUE). The programme is offered at KeMU's School of Business and Economics.

Accredited by

Commission for University Education
AcademicRequired
Accredited by the Commission for University Education (CUE). The programme is offered at KeMU's School of Business and Economics.

Where it leads

The roles it opens, and what you leave with.

Where graduates go

4 roles

Microfinance Officer
Moderate demandKsh 45,000 to Ksh 150,000
Manages microfinance operations including client recruitment, loan appraisal, disbursement and recovery at microfinance institutions and banks.
Credit Officer
High demandKsh 40,000 to Ksh 130,000
Assesses loan applications, evaluates creditworthiness, manages loan portfolios and ensures timely loan recovery in financial institutions.
Financial Inclusion Officer
Moderate demandKsh 50,000 to Ksh 160,000
Designs and implements financial inclusion programmes, promotes digital financial services and supports underserved communities' access to finance.
SACCO Manager
Moderate demandKsh 55,000 to Ksh 180,000
Manages SACCO operations including member services, loan management, financial reporting and regulatory compliance.

Graduate outcomes

Graduates work as microfinance officers, credit officers and financial inclusion officers in microfinance institutions, SACCOs, banks and development organisations across Kenya.

Where these fields lead

8 careers

Certifications

Industry links

Common misconceptions

Microfinance is just about giving small loans to poor people.
Microfinance encompasses a range of financial services including savings, insurance, money transfers and financial education, delivered through sophisticated institutional frameworks with risk management and regulatory compliance.
A microfinance degree limits you to working in microfinance institutions only.
Graduates work in commercial banks, SACCOs, NGOs, government agencies, development organisations and consulting firms, with skills applicable across the broader financial sector.
Microfinance is a failing sector with no career prospects.
Kenya's microfinance sector continues to grow with digital financial services expanding reach, creating demand for qualified professionals who understand both traditional and innovative financial inclusion models.
Microfinance is charity work, not a real business career.
Microfinance institutions are regulated financial businesses requiring professional management, financial analysis, risk assessment and strategic planning, making it a legitimate and challenging business career.