The School of Finance and Banking (SFB) has increased tuition fees for the Master of Business Administration (MBA) programmes. The fees increased from $8000 (about Frw4,318,320) up to $10,000 (aprox. Frw5,397,900) for the complete two years.
According to the Rector, Prof. Krishna Kistan Govender, the increase is aimed at enabling the institution to meet costs in conducting the programme. He said in an interview yesterday that the previous fee was not sufficient to run the programme, including salaries for lecturers.
The Rector added that the Ministry of Education had also failed to come good on its promise to grant some subsidies.
He explained that the new fees structure was approved by SFB Board of Directors though the Minister of Education, Dr. Daphrose Gahakwa, said the ministry was unaware of the increment.
She added that she was also not informed of the ministry’s promises for subsidies. Nonetheless, Gahakwa said the Government does not intervene in fees matters for a programme provided by an international institution. The programme is run jointly by SFB and the Netherlands-based Maastricht School of Management (MsM).
The MBA programme runs for two years and it has three courses; Project Planning, Finance, and Banking.