Business

Master of Business Administration in Finance

This Master's programme prepares students for senior financial management and corporate finance leadership. It focuses on corporate finance, financial management, monetary management, and international finance — equipping graduates for executive finance roles in corporations and financial institutions.

Students learn to manage corporate finance, analyse investment decisions, evaluate capital structure, manage financial risk, and apply international financial management principles. They develop skills in financial analysis, capital budgeting, cost of capital analysis, dividend policy, working capital management, and international finance.

Throughout the programme, students examine how Kenya's financial sector — with the Nairobi Securities Exchange, growing corporate sector, and regional financial integration — requires finance professionals who can make strategic financial decisions. They learn how finance expertise serves corporations in raising capital, managing investments, and optimising financial performance in dynamic markets.

The programme combines coursework, financial analysis projects, case studies, and a research project over two years totalling 45 credits. Students study accounting for decision-making, managerial economics, strategic management, introduction to corporate finance, financial statement analysis, valuation of future cash flows, capital budgeting, risk and return, cost of capital, financial leverage and capital structure, short-term financial planning, international financial management, and advanced financial management.

Graduates pursue careers as chief financial officers, finance directors, investment managers, corporate finance advisors, financial analysts, and finance consultants across corporations, banks, investment firms, and financial institutions in Kenya and Africa.

The programme is ideal for finance and accounting graduates who want to build advanced corporate finance expertise for senior financial leadership.

Duration: 2 years
Public, up to: Ksh 301,125
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: 3 months
Average class: 50 students
Award: Masters

What you study

10 subjects

Financial Accounting
Business Law
Economics
Communication Skills
Entrepreneurship
Marketing Management
Cost Accounting
Quantitative Techniques
Office Administration and Management
Human Resource Management

Modules

12 in the programme

Operations Management
Year 1Semester 13 creditsCore
Production planning, quality management, inventory control and process optimisation.
Advanced Corporate Finance
Year 1Semester 13 creditsCore
Capital structure; cost of capital; capital budgeting; dividend policy; mergers and acquisitions; corporate restructuring
Corporate Finance
Year 1Semester 23 creditsCore
Capital budgeting, risk analysis, capital structure and dividend policy.
Financial Risk Management
Year 1Semester 23 creditsCore
Market risk; credit risk; operational risk; derivatives; hedging strategies; Basel frameworks; risk modelling
International Finance
Year 1Semester 23 creditsCore
International financial system; foreign exchange; international parity conditions; currency risk; international capital budgeting
Financial Modelling and Analysis
Year 1Semester 23 creditsCore
Financial modelling; Excel modelling; DCF valuation; scenario analysis; sensitivity analysis; financial forecasting
Strategic Management
Year 1Semester 33 creditsCore
Strategy formulation, competitive advantage, corporate strategy and implementation.
Business Project / Dissertation
Year 2Semester 16 creditsCore
Applied business research project addressing a real organisational challenge.
Behavioural Finance
Year 2Semester 13 creditsCore
Behavioural finance theory; investor psychology; market anomalies; cognitive biases; behavioural portfolio theory
Corporate Governance and Ethics in Finance
Year 2Semester 13 creditsCore
Corporate governance; financial ethics; regulatory compliance; shareholder activism; ESG investing
Research Methods in Finance
Year 2Semester 13 creditsCore
Research methodology; econometrics; financial data analysis; event studies; academic writing
MBA Finance Thesis/Project
Year 2Semester 26 creditsCore
Independent research thesis or financial analysis project on a finance topic

Specialisations

Accounting & Finance
Financial accounting, management accounting, auditing, taxation and corporate finance. Students gain skills for CPA, audit and financial management roles.
Marketing & Digital Commerce
Market research, brand management, digital marketing, social media strategy and e-commerce. Students learn to drive customer engagement and sales growth.
Human Resource Management
Talent acquisition, performance management, labour relations, training and organisational development. Students learn to manage people and build strong teams.
Operations & Supply Chain
Logistics, procurement, inventory management, quality control and operations strategy. Students learn to optimise business processes and supply chains.
Entrepreneurship & Innovation
Business planning, venture creation, innovation management and startup finance. Students develop the skills to launch and grow their own businesses.

A day as a student

Students build three-statement financial models in Excel, value companies using DCF and comparable transaction analysis, study M&A deal structures using Kenyan and East African case studies, and present investment committee recommendations to panels of finance professionals acting as mock boards.

The trade offs

In its favour

Finance specialisation opens doors to the highest-compensation roles in Kenya's banking, investment, and advisory sectors
Growing PE and VC activity in East Africa is expanding the investment management career pathway
Financial modelling and valuation skills are immediately applicable and highly valued by employers

Against it

Top investment banking and PE roles in Kenya are very competitive and typically require prior finance experience
Finance industry roles can involve intense performance pressure, deal deadlines, and long working hours
MBA in Finance competes with CFA and CIMA qualifications for investment and financial management roles

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 301k

187k at Moi University301k at University of Nairobi

Private208k to 320k

208k at Zetech University320k at USIU-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 (worldscholarshipforum). UoN 602,250/2yr (kenyaeducationguide). Zetech 208K Yr1. USIU 159,750/sem.

Scholarships available through HELB, university merit programs, and corporate sponsorships from banks and business organizations. KASNEB also offers bursaries for accounting students.

Funding options

HELB loan
County bursary
University scholarship
KASNEB bursary

Scholarships

5 recorded

HELB Business Loan
PartialKsh 80,000Kenyan
Kenyan citizen; Business/economics programme; Financial need
County Government Business Bursary
PartialKsh 80,000Kenyan
Resident of county; Business student; Financial need
KCB Foundation Business Scholarship
FullKsh 1,200,000Kenyan
Kenyan citizen; B+ in KCSE; Business programme; Financial need
Mastercard Foundation Scholars Program
FullKsh 8,000,000Kenyan
Kenyan citizen; Academic excellence; Financial need; Leadership
CPA-K Student Bursary (KASNEB)
PartialKsh 50,000Kenyan
KASNEB registered student; Academic merit; Financial need

Getting in

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

What you need

KCSE mean grade: C
Alternative entry: A relevant Bachelor's degree (typically 2nd class upper / GPA 3.0+) and sometimes industry experience.

How you are assessed

3 components

Research Project
Project30% of the mark
MBA finance research project.
Final Examinations
Exam40% of the mark
End-of-semester examinations.
Continuous Assessment
Cat30% of the mark
Case studies and financial modelling exercises.

Accreditation

Business programs are accredited by the Commission for University Education (CUE) for degree-level and KNEC/TVETA for diploma and certificate levels.

Accredited by

Commission for University Education
NationalRequired
Accredits all university-level programmes (Bachelor, Master, PhD) in Kenya.
Kenya Accountants and Secretaries National Examinations Board
Professional
Professional exams (CPA/ACCA) recommended for accounting & finance roles.

Where it leads

The roles it opens, and what you leave with.

Where graduates go

4 roles

CFO (Growth Company)
Medium demandKsh 250,000 to Ksh 800,000
Provides financial leadership, fundraising strategy, and investor relations for a scaling startup or SME.
Corporate Finance Manager / Director
Medium demandKsh 200,000 to Ksh 700,000
Manages M&A transactions, capital raising, and strategic financial analysis for a corporation or advisory firm.
Investment Manager (Fund / PE)
Medium demandKsh 200,000 to Ksh 700,000
Sources, evaluates, and manages equity investments in East African companies for a private equity or fund manager.
Project Finance Specialist (DFI)
Medium demandKsh 200,000 to Ksh 600,000
Structures and appraises infrastructure and energy project finance transactions for AfDB, IFC, or DEG.

Graduate outcomes

Graduates work as investment managers, corporate finance advisors, private equity associates, project finance specialists at DFIs, and CFOs of growth companies in Kenya's expanding financial sector.

Where these fields lead

8 careers

Tools you will learn

Bloomberg Terminal
Financial data
Real-time financial market data.
Microsoft Excel
SpreadsheetPrimary
Financial modelling and analysis.
Reuters Eikon
Financial data
Financial market data and news.

Certifications

Industry links

Common misconceptions

Business management is just common sense.
It requires rigorous study of economics, accounting, law, statistics, and organizational behaviour, combined with analytical and leadership skills.
Graduates only work in offices doing paperwork.
Business graduates work in diverse roles including entrepreneurship, consulting, marketing, financial analysis, and strategic management across all sectors.
Accounting is boring and repetitive
Modern accounting involves data analysis, automation, and strategic advisory.
You need a degree to become an accountant
Many successful CPAs hold diplomas; KASNEB qualifications are more critical.