University of Cape Town, Graduate School of Business

EFMD Equis Accredited
AACSB Accredited


The University of Cape Town Graduate School of Business is attracting attention at the tip of Africa.

Home to the only full-time African MBA ranked in the top 100 by the prestigious Financial Times and as just one of 59 schools world-wide to be “triple-crowned” (schools which are accredited by AMBA, EQUIS and the AACSB), the school is among the best in the world.

We take a four-pronged approach to excellence that combines academic rigour, societal relevance, innovation in teaching and thought leadership to transform our students – taking them from a place of knowing to doing to being.

The GSB is committed to making business better. Our full-colour thinking approach challenges taken-for-granted assumptions and practices and encourages students to do the same. With our roots in Africa, our focus is on emerging market business and our teaching and research is geared towards driving development and understanding in this context, which is characterized by high degrees of uncertainty, complexity and inequality.

Through initiatives like the Bertha Centre for Social Innovation and Entrepreneurship and the Allan Gray Centre for Values-based Leadership we seek to build a new kind of business school: one that is rooted in values and enables positive new ways of thinking and acting in business to achieve sustainable success.

We offer a range of study options, from our academic programmes, including the MBA and the Executive MBA, to Executive Education short courses as well as masters and doctoral studies. Our campus is located in the heart of the City of Cape Town – one of Africa’s most vibrant and culturally diverse cities.

Admissions and Requirements

English is used both for teaching and for examinations at UCT. All applicants must show evidence of proficiency in English and must submit evidence of this as part of their application to study at UCT.

International applicants whose home language is not English must submit, as part of their application to study, one of the following:

  1. A stipulated score on the National Benchmark Tests. (NBTs)

(a) For undergraduate applicants the MINIMUM NBT AQL scores stipulated for each qualification; SEE faculty entries in this prospectus.

(b) For graduate applicants a score of at least 65% (proficient) or above on the Graduate Academic and Quantitative Literacy (G-AQL) Test, unless otherwise stipulated in the postgraduate prospectus.

NBTs are offered by UCT’s Centre for Educational Testing for Admission and Placement (CETAP) and arrangements can be made for you to take these tests anywhere in the world.

  1. A recent score (obtained within 3-5 years before application for admission) of at least 570 (for the paper-based test) or at least 230 (for the computer-based test) on the Test of English as a Foreign Language (TOEFL); or 88 on the Internet-based TOEFL test.

  2. A recent overall band score of 7.0 on the International English Language Testing System (IELTS), with no individual element of the test scoring below 6.0.
  3. A Score on the Pearson PTE Academic test of 64.

International Applicants

International applicants should be aware that obtaining study permits from the South African authorities can take approximately two months from the date of being offered a place on the programme.

This school offers programs in:
  • English

View master programs »


This school also offers:


Master of Commerce Degree in Development Finance

Campus Part time 2 years February 2017 South Africa Cape Town

The Master of Commerce Degree in Development Finance is designed to develop people to provide optimum financial outcomes. Skills gained can be used to influence development trends in an emerging context and therefore, make large-scale changes that can impact positively on the quality of life of people around the world. [+]

The Master of Commerce Degree in Development Finance is designed to develop people and institutions that can help provide optimum financial outcomes that enhance the design and implementation of reforms and capacity-building programs adopted by development finance institutions, governments, the private sector, NGOs and the wider emerging markets. While Development Finance is typically known for its use by people working in development finance and other related institutions, it is also widely used by people in other banking and financial services institutions and institutions. It provides the expertise to start initial investments that act as the right catalyst, and demonstrate that enterprises can thrive in economically challenging markets. It is also used to ensure that funds channelled through development projects provide sustainable outcomes that can sustain the development agendas of developing countries. Why this Degree? As a professional discipline, Development Finance is widely practiced today by all central governments; major development finance institutions including the World Bank, the IMF, the UN; as well as public and private sector organisations, international foundations and NGOs. However there is a shortage of Development Finance experts in Africa, where the expertise is needed most. It's for this reason the University of Cape Town’s Graduate School of Business (GSB), has partnered with Africagrowth Institute (AGI), to create the Master of Commerce Degree in Development Finance. The MCom (Development Finance) programme aims to ensure that Africa produces enough development finance experts to meet the growing needs of the growing continent. Who Should Apply? Development Finance Practitioners Civil Servants Staff of Development Finance Institutions Staff of Other Financial Institutions Entrepreneurs Staff of NGOs Staff in the Private Sector Duration of Degree The degree is offered as a 2-year modular programme. A first intensive modular (2 weeks) period takes place in the period March/April of the first year. A second intensive modular period (2 weeks) is organized in August of the first year. The second year an intensive modular period takes place in February. The rest of the year is dedicated to the writing of the compulsory research report. Benefits Development finance is for people and institutions that can influence development trends in an emerging context and make large-scale changes that can impact positively on the quality of life of people around the world. The GSB MCom in Development Finance brings with it a wide range of benefits including the following: Chartered Membership of the Chartered Institute of Development Finance; Membership of a professional network of development finance practitioners in Africa and beyond; A ready-made reputation for excellence from one of South Africa's most respected academic institution; The ability to work for development finance institutions, governments, the private sector and other sectors of an economy; The ability to conduct high level development finance research and provides students with skills to engage in high policy decision making process; The program equips students with a solid understanding of finance as applied in international development context; The program provides the expertise to start initial investments that act as the right catalyst, and demonstrate that enterprises can thrive in economically challenging markets. Programme Details The MCom in Development Finance is a rigorous modular program which is taken over two years. Students attend classes at the GSB twice a year of between 2-3 weeks each during February/March and in August. Lectures are structured to cover theories in development finance, development finance practice and real-life case studies in development finance. The program covers nine compulsory core courses and students have the option to choose only one elective from a portfolio of six. Core Curriculum Micro-Enterprise Finance Project Finance International Finance for Development Quantitative Methods in Development Finance Issues in Development Finance Responsible Investment Public Sector Finance Financial Risk Management Research Methods Electives Students are required to choose only one elective from the following list: *A minimum of 13 students are required in order to run any elective. Sovereign Debt Management WTO and Trade Negotiations Global Financial Architecture Financial Services Regulation International Trade Policies Corporate Finance and Investment Learning Process To obtain the qualification, a student must pass all nine compulsory courses and a minimum of one elective course with individual marks of, at least, 50% or more. In addition to this, the student must also complete an independent mini research report with a mark of, at least, 50%. Assignments and Compulsory Research Report Core courses and electives are validated through the successful completion of a range of assignments: a mini-test in class, a final exam in class and an essay/case study to be written outside class are usually requested by lecturers. Each course provides underpinning knowledge and all modules provide three elements of assessment as follows: Case studies are provided for discussion in class and for individual assessment; Individual assignments are provided to test students' understanding of issues relating to finance for development in all of the core modules; At any stage, class tests are used to evaluate understanding of the module; A final class examination assesses overall understanding of the module A course in Research Methods is also compulsory and will be used as a pre-requisite to the research report. Students with average mark for the coursework of at least 75%, including at least 75% for the independent mini research, will be awarded the degree with distinction. Each student will be required to write a report in one of the following formats: Writing an essay-type scientific report which delves deeply into a particular issue of interest to the student. A journal publishable high quality article related to one or more of the modules on the degree programme [-]


UCT GSB Creating and Leading the Values-Driven Organisation



The University of Cape Town Graduate School of Business

Address Portswood Rd
8002 Cape Town, South Africa
Phone +27 21 406 1338/9