Postgraduate Diploma in Development Finance

Purpose

The primary purpose of the qualification is to enable professionals working in the field to undertake advanced reflection and development using a systematic survey of current thinking, practice and research in the area. It will be of particular interest to those learners interested in becoming involved in the financial aspects of socio-economic development and management in emerging and frontier economies, with a specific focus on Africa.

The qualification aims to develop competent development finance practitioners with the ability to plan, manage, analyse and monitor the financial and monetary aspects of their respective organisations. The qualification is interdisciplinary, and as such, aims to broaden the knowledge base of learners through an integrated study of economic development theory, enterprise development, alternative resource management and finance strategies, and ethical leadership of development finance institutions. The qualification analyses critical aspects of development finance and its relation to sustainable development based on coherent and relevant theoretical frameworks that underpin development finance practice.

At the same time, the qualification aims to provide learners with the necessary leadership and managerial tools. The qualification provides competencies to contribute to the design, implementation, monitoring and evaluation of development finance projects, policies and qualification models. Also, focus on the financial and ethical governance challenges of developing countries.

Rationale

In the post-World War II era, development finance policies and institutions in emerging economies have been at the heart of generating and distributing finance for large-scale infrastructure projects. The other initiatives to accelerate growth and development, since private sources of funding were unable or unwilling to participate because of the risks posed by long-term investment. These institutions of development finance reflect an encouraging growth in political and economic self-confidence in emerging economies. However, this growth often comes at a cost manifested in, for example, the displacement of local populations and the diminishing of natural habitats and biodiversity.

To maintain this trajectory of progress, it has become necessary to develop learning qualifications that prepare development finance professionals and leaders in their field. Such professionals will investigate critical issues in the field of development and microenterprise finance. The professionals will analyse and review both the formal and informal financial sectors to develop policies that promote financial inclusion and economic reform. They will also explore specialised areas and topics, such as funds acquisition, budgeting and asset and debt management within the financial services sector.

The qualification provide individuals with work experience in finance, and the opportunity to improve their knowledge and skills base. The qualification leads to career enhancement and promotion while giving access to the highest levels of education.

Recognition of Prior Learning (RPL)

Entry into this qualification is possible via RPL for learners who do not meet the direct admission requirements, but who can demonstrate experiential or work-based learning at an equivalent Level (NQF 7). Learners must provide a formal, properly structured assessment of prior learning in terms of the institution s' RPL Policy. Such learners may be required to broaden their knowledge base by enrolling for deliberately planned introductory modules, before admission or parallel modules after admission.

Learners must provide a portfolio of evidence that includes competency certificates, job descriptions, and other relevant and related material relative to the experience gained within the Finance sector. This material must meet with the minimum academic standard at a level equivalent to NQF 7.

Entry Requirements

The minimum entry requirement for this qualification is

• Bachelor of Commerce, NQF Level 7.

Or

• Advanced Diploma in Finance, NQF Level 7.

This qualification consists of the following compulsory modules at National Qualifications Framework Level 8 totalling 120 Credits.

Compulsory Modules, 120 Credits

• Economic Development Theory and Policy Analysis, 20 Credits.
• Leadership in Development Finance, 20 Credits.
• Enterprise Development and Finance, 20 Credits.
• Alternative Resource Management and Finance Strategies, 20 Credits.
• Development Finance Project [Report], 40 Credits.

1. Evaluate sustainable development objectives in the context of lesser developed economies.
2. Appraise economic growth and development theory from an inclusive socio-economic perspective.
3. Contribute meaningfully to the design, implementation and evaluation of development finance policies and projects.
4. Formulate an enterprise development policy that provides financing options for enterprise development within a supportive legislative and regulatory environment, with a specific emphasis on SMME development that addresses the financial exclusion of the informal sector.
5. Develop, implement and evaluate alternative resource management and finance strategies in a competent manner.
6. Compare the various options for sourcing development finance from cost, benefit and risk perspectives.
7. Design a stakeholder map for development institutions with due consideration of the relationship and responsibilities of such stakeholders.
8. Integrate an ethical orientation in development finance strategies using ethical leadership that prioritises societal well-being.
9. Analyse development finance related interventions and prepare evaluative reports regarding the impact of relevant variables on the outcomes of such interventions.

Associated Assessment Criteria for Exit Level Outcome 1

• Identify and describe critical problems and barriers to socio-economic development objectives facing Africa.
• Evaluate the objectives of sustainable development in terms of the UNs' 17 Sustainable Development Goals and the South African National Development Plans' Vision 2030.

Associated Assessment Criteria for Exit Level Outcome 2

• Apply classical economic growth models to address socio-economic growth priorities of lesser developed countries.
• Compare and contrast inclusive development with traditional thought on economic growth.

Associated Assessment Criteria for Exit Level Outcome 3

• Explain Policy options.
• Select and recommend suitable policies in addressing development priorities.
• Distinguish and appraise the options between addressing poverty and inequality, while achieving economic growth, in the context of the scarcity of development resources.
• Exemplify the role of the financial sector in economic development through reference to specific cases.

Associated Assessment Criteria for Exit Level Outcome 4

• Appraise selected development finance institutions and the financing options and support services they offer, specifically with a view to enterprise development in the informal sector.
• Review and evaluate cases of government interventions and their impact on socio-economic and enterprise development.
• Identify, describe and assess barriers to enterprise development and their impact.
• Investigate and critique the role of Special Economic Zones in supporting industrial development and export growth.
• Review the impact of the legal and regulatory environment on the development of the SMME sector.
• Formulate and present a comprehensive enterprise development policy aimed at the informal sector.

Associated Assessment Criteria for Exit Level Outcome 5

• Identify the critical success factors of a development finance strategy.
• Develop a resource management qualification.
• Quantify risk in development finance.
• Present risk mitigation strategies.
• Evaluate engagement with stakeholders in development finance strategies.

Associated Assessment Criteria for Exit Level Outcome 6

• Conduct a cost, benefit and risk analysis on sources of development finance.
• Select and motivate the most suitable source of finance for a particular development qualification.
• Conduct a review of selected funding models of state-owned enterprises.
• Explore corruption and inefficiency as obstructive forces in the financing of state- enterprises.

Associated Assessment Criteria for Exit Level Outcome 7

• Identify and illustrate the internal and external stakeholders of selected development institutions through a stakeholder map, together with their relationship and responsibilities.

Associated Assessment Criteria for Exit Level Outcome 8

• Identify and discuss personal values and the influence these have on ethical decision-making are in the context of leading development finance institutions.
• Elaborate and define the concept of morals and ethics.
• Consider the classical philosophical theories when facing an ethical dilemma.
• Detail and explore ethical dilemmas in development finance.
• Examine the role of ethical leadership in prioritising social well-being in development finance using specific case studies.

Associated Assessment Criteria for Exit Level Outcome 9

• Prepare an evaluative report on a development finance related intervention.

Integrated Assessment

Formative assessment

• Will be assessed through assignments and analysis of current and relevant public sector scenarios, test and or case studies.

Summative assessments

• Examinations.