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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Postgraduate Diploma in Development Finance 
SAQA QUAL ID QUALIFICATION TITLE
112664  Postgraduate Diploma in Development Finance 
ORIGINATOR
Nelson Mandela University 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Postgraduate Diploma  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Not Applicable  NQF Level 08  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Reregistered  EXCO 0821/24  2019-10-30  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2031-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This qualification does not replace any other qualification and is not replaced by any other qualification. 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
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. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
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. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    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. 
    		•

    EXIT LEVEL OUTCOMES 
    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 
    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. 
    		•

    INTERNATIONAL COMPARABILITY 
    Country: Australia.
    Institution: Adelaide University.
    Qualification Name: Graduate Diploma in Applied Finance.

    Comparison:
    The admission requirements is the same for both the qualifications as the Bachelor Degree or equivalent and they both designed to prepare learners who may be interested to continue further study in the Master of Applied Finance.

    The focus of the core modules in the Adelaide qualification leans toward the more general aspects of finance, which compares well with the South African four core modules. However, the vast number of electives (10) implies that learners will be deprived of 6 of the areas not covered when they make the selection. The large number of electives also implies escalated delivery costs (financial viability could be compromised).

    In the South African version, the subject areas are covered to a more or lesser extent in the syllabi of four broad core modules culminating in the capstone Development Finance Project report. Learners then progress to the MPhil in Development Finance by coursework (a further 10 modules covering essential areas) and a 60-Credits treatise.

    Country: Australia.
    Institution: University of Melbourne.
    Qualification Name: Graduate Diploma in Finance.

    Comparison:
    In order to be considered for entry, prospective learners must have completed an undergraduate Degree in a relevant discipline, or equivalent, with studies in Business Finance, Investments and Corporate Finance (37.5 points), or their equivalents; a personal statement outlining why they wish to be considered for the course which is similar to the South African qualification.

    The South African qualification is also designed for learners with a pre-existing Bachelor of Commerce (or equivalent) to undertake a broader and more comprehensive training in finance than is feasible within an undergraduate Degree.

    Learners must pass all eight subjects to qualify for the Graduate Diploma in Finance. The focus of the core modules in the University of Melbourne qualification cover the more general aspects of finance, which compares well with the South African qualification four core modules.

    In South Africa, the PGDip is a distinct qualification from the Masters. In Australia and the UK, the PG Dip may prove more demanding from a content point of view because a large amount of course work has to be covered, leaving learners with only the dissertation to complete for the Masters. In South Africa, much coursework can still be covered in the Masters by coursework and mini-dissertation (treatise).

    Country: United Kingdom.
    Institution: The Open University.
    Qualification Name: Postgraduate Diploma in Finance.

    Comparison:
    A Bachelor's Degree awarded by a recognised UK university or equivalent is required for entry into Postgraduate Diploma in Finance which is similar to the South African qualification.

    The focus of the core modules in the Open University qualification leans toward the more general aspects of finance, which compares well with the South African qualification four core modules. There are fewer electives which implies reduced delivery costs, and enhanced financial viability. 

    ARTICULATION OPTIONS 
    This qualification allows possibilities for both vertical and horizontal articulation.

    Horizontal Articulation:
  • Bachelor of Commerce Honours, Level 8.
  • Postgraduate Diploma in Financial Planning, Level 8.

    Vertical Articulation:
  • Master of Philosophy in Development Finance, Level 9. 
    		•

    MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    NOTES 
    N/A 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Nelson Mandela University 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.