Master of Science Financial Services

7th August 2018
1.5 Years on PT/DE


This programme brief summarises the contents of the Master of Science Financial Services (MFS) degree programme and is structured as follows. The programme rationale, aim, objectives and target group are outlined in Sub-sections 1.1 to 1.4 respectively, while the admission criteria and duration of study are given in Section 2.0. The programme structure is outlined in Section 3.0.



The training of financial sector professionals in Zambia has not been given high primacy. This state of affairs can in part be attributed to the infantile stage of financial sector’s development. With the full implementation of most of the recommendations made in the Financial sector Development Plan (2004-2015) in full gear, the sector is set to blossom and hence the need to proactively train a cadre of sector professionals that will be able to operate within the sector either as practitioners or entrepreneurs. It is against this background that this programme will equip students with the necessary theory and skills to operate successfully in the rapidly expanding financial services industry.


1.2 AIM

The aim of the programme is to prepare students to tackle demanding financial jobs and other opportunities by helping them acquire theoretical and practical knowledge regarding recent and important developments in the financial sector. Students will also be able to specialise in the field of their choice (financial services, banking or insurance management) or venture into entrepreneurship as either investments advisors or active trading participants.



By the end of the programme, students should be able to:

  • evaluate the scope of financial services in Zambia, the region and the global stage at large;
  • evaluate the factors shaping financial services in Zambia and internationally;
  • demonstrate the critical abilities of analysis, interpretation, evaluation and judgement as applied to banking, insurance, pensions and financial markets; and
  • collect and analyse business data to help in solving challenges related to the provision of financial services.



The programme targets university graduates seeking to work at both tactical as well as strategic levels in investment or commercial banking, specialized financial institutions, stock broking, dealing agencies, insurance, pension and investment funds. The programme is also targeted at holders of professional qualifications in finance, accountancy, pensions, insurance or banking. It will provide individuals in management positions with a better understanding of Management in a financial services environment, including strategy formulation and implementation. It is also well suited for fresh graduates wishing to acquire a postgraduate qualification for a career in financial services.



To qualify for admission to the MFS degree programme an applicant must have any of the following qualifications:

  • a degree in finance, financial services, accounting, pension and insurance from a recognised institution;
  • professional qualification such as ZICA, CIMA, CFA and ACCA; or
  • any relevant degree from a recognised institution.


The course of study for the award of the MFS degree shall be completed in a period of not less than 18 months and not more than three years.


Each year of study is divided into two semesters and students are expected to take three courses in each semester.  The course structure is as shown in Tables 1 to 2 below.



Table 1 Year1 courses

Semester 1 Semester 2
Course Code Course Course Code Course
MFS111 Research Methods (15 credits) MFS112 Investment Banking (15 credits)
MFS121 Risk Management  (30 credits) MFS122 Retail Financial Services (15 credits)
MFS131 Commercial  Banking (15 credits) MFS132 International Banking (30 credits)



Table 2 Year 2 courses

Semester 1
Course Code Course
MFS211 Project Finance (15 credits)
MFS221 Dissertation (30 credits)
One Elective from:
MFS231 Financial Innovation & Entrepreneurship (15 credits)
MFS241 Credit Management (15 credits)
MFS251 Global Treasury Operations (15 credits)
MFS261 Insurance Management (15 credits)
MFS271 Pension Management (15 credits)

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