Business

Master of Banking and Finance

The Master of Banking and Finance is a postgraduate programme that provides advanced study of banking, finance, financial markets, investment management, and financial regulation. The programme equips finance professionals with analytical skills and knowledge for the banking and financial services industry.

Core areas include banking operations, financial management, investment analysis, risk management, financial markets, corporate finance, banking law, financial regulation, and research methods. Students engage with both theoretical frameworks and practical banking and finance applications.

The programme is offered by Moi University through its School of Business and Economics at Nairobi Campus (Bazaar Plaza) and Eldoret Main Campus. USIU-Africa offers a related MSc in Global Banking and Finance through its Chandaria School of Business.

Students develop competencies in banking, financial analysis, investment management, risk assessment, financial modelling, and research. The programme includes coursework, examinations, thesis, and oral defence.

Moi University (public) charges approximately KES 187,200/year. USIU-Africa (private) charges KES 159,750 per semester (~KES 319,500/year) for its MSc in Global Banking and Finance. Entry requires a Bachelor's degree with at least Upper Second Class Honours in Business, Economics, Commerce, or related field.

Graduates pursue careers as bank managers, financial analysts, investment managers, risk managers, and financial consultants in banks, financial institutions, investment firms, and regulatory bodies.

Skills Required

Banking Operations and Management
Financial Analysis and Modelling
Investment Management and Portfolio Analysis
Risk Management and Assessment
Financial Markets and Instruments
Corporate Finance and Valuation
Banking Law and Financial Regulation
Credit Analysis and Lending
Financial Reporting and Compliance
Research Methods in Finance

Key Subjects

Banking Operations and Management
Financial Management and Analysis
Investment Analysis and Portfolio Management
Risk Management in Banking
Financial Markets and Instruments
Corporate Finance and Valuation
Banking Law and Financial Regulation
Credit Analysis and Lending Management
Financial Reporting and Compliance
Research Methods in Finance

Certifications

CFA Charter
CIB Banking Certification

Specializations

Banking Operations

Focuses on banking operations, bank management, commercial banking, retail banking, and managing and operating banking institutions and services.

Investment Management

Examines investment management, portfolio management, securities analysis, asset management, and managing and analysing investment portfolios.

Risk Management

Covers risk management, credit risk, market risk, operational risk, and assessing and managing risks in banking and financial institutions.

Corporate Finance

Focuses on corporate finance, capital structure, valuation, mergers and acquisitions, and managing and analysing corporate financial decisions.

Financial Markets

Examines financial markets, capital markets, money markets, derivatives, and understanding and analysing financial markets and instruments.

Financial Regulation

Covers financial regulation, banking law, regulatory compliance, central banking, and understanding and applying financial regulation and banking law.

Duration: 2 years
Public, up to: Ksh 187,200
Private, up to: Ksh 319,500
Job market: High

The programme

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

Practicalities

Study mode: Full-time, Part-time
Attachment: 0 months
Average class: 25 students
Award: Masters

What you study

10 subjects

Banking Operations and Management
Financial Management and Analysis
Investment Analysis and Portfolio Management
Risk Management in Banking
Financial Markets and Instruments
Corporate Finance and Valuation
Banking Law and Financial Regulation
Credit Analysis and Lending Management
Financial Reporting and Compliance
Research Methods in Finance

Modules

12 in the programme

Banking Operations and Management
Year 1Semester 13 creditsCore
Examines banking operations, bank management, commercial banking, retail banking, banking products, and managing and operating banking institutions and services.
Financial Management and Analysis
Year 1Semester 13 creditsCore
Covers financial analysis, financial modelling, capital structure, working capital management, and managing and analysing organisational finances.
Research Methods in Finance
Year 1Semester 13 creditsCore
Examines research methods, design, data collection, analysis, and conducting research in banking and finance, preparing students for their thesis.
Investment Analysis and Portfolio Management
Year 1Semester 13 creditsCore
Covers investment management, portfolio management, securities analysis, asset valuation, and managing and analysing investment portfolios.
Risk Management in Banking
Year 1Semester 23 creditsCore
Examines risk management, credit risk, market risk, operational risk, risk assessment, and assessing and managing risks in banking and financial institutions.
Financial Markets and Instruments
Year 1Semester 23 creditsCore
Covers financial markets, capital markets, money markets, derivatives, bonds, equities, and understanding and analysing financial markets and instruments.
Corporate Finance and Valuation
Year 1Semester 23 creditsCore
Examines corporate finance, valuation, capital budgeting, mergers and acquisitions, dividend policy, and managing and analysing corporate financial decisions.
Banking Law and Financial Regulation
Year 1Semester 23 creditsCore
Covers banking law, financial regulation, central banking, regulatory compliance, and understanding and applying banking law and financial regulation.
Credit Analysis and Lending Management
Year 2Semester 13 creditsCore
Examines credit analysis, lending, loan assessment, credit scoring, credit risk, and analysing and managing credit and lending in banking.
International Banking and Finance
Year 2Semester 13 creditsCore
Covers international banking, international finance, foreign exchange, trade finance, and understanding and managing international banking and finance.
Thesis Proposal
Year 2Semester 13 creditsCore
Preparation of thesis proposal, including research design, literature review, methodology, and proposal presentation for thesis.
Thesis
Year 2Semester 26 creditsCore
Original thesis on a banking or finance topic, demonstrating mastery of research methods and knowledge, assessed through written submission and oral defence.

Specialisations

Banking Operations
Focuses on banking operations, bank management, commercial banking, retail banking, and managing and operating banking institutions and services.
Investment Management
Examines investment management, portfolio management, securities analysis, asset management, and managing and analysing investment portfolios.
Risk Management
Covers risk management, credit risk, market risk, operational risk, and assessing and managing risks in banking and financial institutions.
Corporate Finance
Focuses on corporate finance, capital structure, valuation, mergers and acquisitions, and managing and analysing corporate financial decisions.
Financial Markets
Examines financial markets, capital markets, money markets, derivatives, and understanding and analysing financial markets and instruments.
Financial Regulation
Covers financial regulation, banking law, regulatory compliance, central banking, and understanding and applying financial regulation and banking law.

A day as a student

A typical day during the Master of Banking and Finance programme combines lectures, case studies, practical sessions, and research. Sessions cover banking operations, financial management, investment analysis, risk management, and financial markets. Banking operations sessions examine bank management, commercial banking, retail banking, banking products, and managing and operating banking institutions. Financial management sessions cover financial analysis, financial modelling, capital structure, working capital, and managing and analysing organisational finances. Investment analysis sessions examine investment management, portfolio management, securities analysis, asset valuation, and managing and analysing investment portfolios. Risk management sessions cover credit risk, market risk, operational risk, risk assessment, and assessing and managing risks in banking and finance. Financial markets sessions examine capital markets, money markets, derivatives, bonds, equities, and understanding and analysing financial markets and instruments. Corporate finance sessions cover valuation, capital budgeting, mergers and acquisitions, dividend policy, and managing and analysing corporate financial decisions. Banking law sessions examine banking law, financial regulation, central banking, regulatory compliance, and understanding and applying banking law and regulation. Credit analysis sessions cover credit analysis, lending, loan assessment, credit scoring, and analysing and managing credit and lending. Research methods sessions prepare students for their thesis, covering research design, data collection, and analysis. Practical training includes case studies, financial modelling exercises, and industry projects. Guest lectures from bank executives, financial analysts, and regulators provide real-world insights. The programme culminates in a thesis on a banking or finance topic.

The trade offs

In its favour

Programme offered at both public (Moi University) and private (USIU-Africa) institutions, providing choice of cost and approach.
Kenya's position as East Africa's financial hub creates high demand for qualified banking and finance professionals.
Career opportunities across banks, investment firms, insurance, microfinance, fintech, regulatory bodies, and consulting.
USIU-Africa's MSc in Global Banking and Finance is comparable to the best MSc or MBA Banking and Finance courses in Europe or America.

Against it

USIU-Africa tuition of KES 319,500/year is significantly higher than Moi University's ~KES 187,200/year.
Programme requires background in business, economics, or commerce, limiting entry for those from other disciplines.
Banking and finance sector is competitive, with senior positions requiring experience and professional certifications in addition to the master's.
Moi University's exact fee structure for this programme is not publicly available, requiring prospective students to contact the university directly.

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

Public187k to 187k

187k at Moi University187k at Moi University

Private191k to 320k

191k at KCA University320k at United States International University Africa

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

Moi ~187,200/yr. KCA 381,035/2=190,518/yr (2025 PDF). USIU 159,750x2=319,500/yr (usiu.ac.ke).

HELB postgraduate loans are available for Kenyan students. KBA supports professional development for banking professionals in Kenya. CFA Institute offers scholarship programmes for finance professionals. The programme's banking and finance focus attracts financial institution, professional body, and regulatory funding.

Funding options

HELB Postgraduate Loan
KBA Professional Development
CFA Scholarship Programmes

Scholarships

3 recorded

HELB Postgraduate Loan
LoanKsh 200,000Kenyan
Kenyan students pursuing postgraduate banking and finance studies at recognised universities.
KBA Professional Development
ScholarshipKsh 150,000Kenyan
Kenya Bankers Association supports professional development for banking professionals in Kenya.
CFA Scholarship Programmes
ScholarshipKsh 200,000
CFA Institute offers scholarship programmes for finance professionals pursuing postgraduate study and CFA qualification.

Getting in

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

What you need

KCSE mean grade: N/A (Postgraduate)
Alternative entry: Moi University offers Master of Banking and Finance at Nairobi Campus (Bazaar Plaza) and Eldoret Main Campus over 2 years, full-time and part-time. USIU-Africa offers MSc in Global Banking and Finance requiring a Bachelor's degree with at least Second Upper Class Honours or GPA of 3.00, or Lower Second Class with GPA of 2.50 and two years of relevant working experience. Intakes vary by institution. Contact the respective university for specific admission requirements and procedures.

How you are assessed

4 components

Coursework and Continuous Assessment
Coursework30% of the mark
Continuous assessment through coursework assignments, financial modelling exercises, case studies, seminar presentations, and class participation.
Written Examinations
Examination40% of the mark
Written examinations covering banking operations, financial management, investment analysis, risk management, and research methods.
Practical Financial Analysis
Practical30% of the mark
Practical assessment through financial modelling, investment analysis, risk assessment exercises, and producing financial analysis reports.
Thesis
Research100% of the mark
Original thesis on a banking or finance topic, demonstrating mastery of research methods and knowledge, assessed through written submission and oral defence.

Accreditation

The programme is accredited by the Commission for University Education (CUE). Moi University offers Master of Banking and Finance through its School of Business and Economics. USIU-Africa offers MSc in Global Banking and Finance through its Chandaria School of Business. The programme meets CUE standards for postgraduate banking and finance training.

Accredited by

Commission for University Education (CUE)
Academic accreditationRequired
Programme accredited by CUE. Moi University offers Master of Banking and Finance through its School of Business and Economics. USIU-Africa offers MSc in Global Banking and Finance through its Chandaria School of Business. The programme meets CUE standards for postgraduate banking and finance training.

Where it leads

The roles it opens, and what you leave with.

Where graduates go

6 roles

Bank Manager
High demandKsh 150,000 to Ksh 600,000
Manages bank operations, overseeing branch operations, customer service, lending, and ensuring efficient and profitable banking operations.
Financial Analyst
High demandKsh 130,000 to Ksh 550,000
Analyses financial data, overseeing financial analysis, modelling, forecasting, and supporting investment and financial decision-making.
Investment Manager
Moderate demandKsh 160,000 to Ksh 700,000
Manages investment portfolios, overseeing investment analysis, portfolio management, asset allocation, and supporting investment decision-making.
Risk Manager
High demandKsh 150,000 to Ksh 600,000
Manages financial risk, overseeing risk assessment, risk modelling, compliance, and supporting risk management in banking and finance.
Credit Analyst
High demandKsh 120,000 to Ksh 500,000
Analyses credit, overseeing credit assessment, loan analysis, credit scoring, and supporting lending and credit decisions.
Financial Consultant
Moderate demandKsh 140,000 to Ksh 600,000
Consults on financial matters, overseeing advisory, analysis, planning, and providing financial expertise and solutions to clients.

Graduate outcomes

Graduates pursue careers as bank managers, financial analysts, investment managers, risk managers, and financial consultants in banks, financial institutions, and regulatory bodies.

Where these fields lead

8 careers

Tools you will learn

Bloomberg Terminal
SoftwarePrimary
Financial data and analysis platform for financial markets, investment analysis, news, data, and financial research and decision-making.
Microsoft Excel
Software
Spreadsheet software for financial modelling, analysis, valuation, banking calculations, and managing financial data and calculations.
SPSS
Software
Statistical software for finance research, survey analysis, econometric analysis, and quantitative data analysis in banking and finance research.
Stata
Software
Statistical software for finance research, econometric analysis, time series analysis, and quantitative data analysis in banking and finance.

Industry links

Common misconceptions

Banking and finance is just about working in a bank.
The programme covers investment, risk, corporate finance, financial markets, regulation, and research, applicable across banks, investment firms, regulators, and consulting.
A master's in banking and finance is unnecessary for a banking career.
The master's provides advanced skills in financial analysis, risk management, and investment, essential for senior positions in banking and finance.
The programme is only for those with banking experience.
While banking experience is valuable, the programme accepts graduates from business, economics, commerce, and related fields seeking to enter banking and finance.
Banking and finance is the same as accounting.
While related, banking and finance focuses on banking operations, financial markets, investment, and risk, distinct from accounting's focus on financial reporting and auditing.
There are limited career opportunities in banking in Kenya.
Kenya's position as East Africa's financial hub, growing banking sector, fintech, and financial inclusion create strong demand for qualified banking and finance professionals.
The programme is purely theoretical.
The programme combines theoretical frameworks with practical case studies, financial modelling, industry projects, and real-world banking and finance applications.