A master of business administration (MBA) is an advancement from an undergraduate business degree and makes the graduate standout from those with only undergraduate degrees. Most major universities and colleges provide MBA programs, which usually last two years. To get into an MBA program, an applicant needs to take the Graduate Management Admission Test (GMAT) and be accepted by the program based on its selection criteria.
Overtime, MBA programs are broadening their focus to include training in international business and to focus on the responsibilities and corporate accountability of businesses within their communities.
In essence, a master of business administration (MBA) is a graduate degree that provides theoretical and practical training for business or investment management. MBA is designed to help graduates gain a better understanding of general business management functions. An MBA degree can have a general focus or a specific focus in fields such as accounting, finance, or marketing, relationship management, etc.
An MBA is a graduate business degree that is basically focused on management. Many schools now offer specialty programs, like sports management, entrepreneurship, business law, the entertainment business, or healthcare management, etc.
Management training is at the heart of any MBA curriculum, with a focus on leadership, planning, business strategy, organizational behavior, and more human sides of running a large or small business.
Executive MBA programs are available for experienced professionals who cannot commit to a full-time schedule.
MBA Vs Executive MBA
While MBA candidates can focus on one of the core disciplines of the degree, such as finance, management, many MBA programs allow students to develop concentrations in specific industries. For example, an MBA student might specialize in, entrepreneurship, the entertainment business, or healthcare management.
Even within a management specialty, MBA degrees can allow a concentration on hospitality, education, or information technology, etc.
On the other hand, specialized or Executive MBA programs are also available for students whose careers do not permit them to attend school full time. For example, executive MBA programs are designed for working professionals hoping to add to their credentials and qualifications. These courses of study typically schedule classes for nights and weekends, sometimes also requiring short residencies of intensive coursework.
Executive MBA programs are majorly open to only candidates who already have enough professional experience, and tend to focus on more advanced topics such as leadership development.
Many individuals consider MBA is one of the best postgraduate studies to embark on. Getting adequate information on the cost of studying MBA seems to be the problem of those who do not know how to go about getting first hand information.
On that note this article will contain such information basically for those who desire to apply for NBA in South Africa.
South Africa is not short of local Master of Business Administration (MBA) options. There are currently more than a dozen institutions in the country that offer various MBA programmes. Three, from the universities of Cape Town, Pretoria, and Stellenbosch, consistently rank among the top 150 in the world.
Not all MBAs are considered equal, though. Also, not all are priced equally, either.
Interestingly, there are several business schools in South Africa that offer these courses to students.
The cheapest MBAs in South Africa start at around R100,00, but can easily exceed R300,000 especially in cases where international travel is either optional or a required component. This is how some of South Africa’s leading business school MBAs stack up.
COST OF MBA IN SOME SOUTH AFRICAN SCHOOLS
1. Gordon Institute of Business Science, University of Pretoria
GIBS MBA programme is always known to be ideal for those who are keen to start their own business, or the general manager who is looking to gain a deeper and all-rounded understanding of business to become a more effective manager
The school, which runs through the University of Pretoria, regularly ranks among the best in South Africa
Basic tuition fees for GIBS are R317,790 – excluding their compulsory Global Module.
The Global Module ranges between $2,700 and $7,230. Using the highest estimate at current exchange rates, this puts the GIBS tuition fee at R443,192.
Find out more about University of Pretoria >>>
2. Johannesburg Business School, University of Johannesburg
The University of Johannesburg offers an MBA programme through its Johannesburg Business School. It claims to be the newest business school in the city, and says it’s “well placed to promote collaborative learning and industry insights through our strong relationships with business leaders and entrepreneurs in Johannesburg and throughout the continent”.
Fees for 2023 have not yet been decided, but are estimated to be R 215,000. There is an optional international study tour elective as well, which costs between $2 500 to $5 500.
Find out more about Johannesburg Business School, University of Johannesburg >>>
3. Henley Business School
Henley Business School offers a holistic learning system, and according to its documentation, its MBA is the only international business school accredited course in South Africa.
This implies that you get recognised wherever you are in the world. Fees for Henley Business School’s MBA in 2021 are R316,905 with available discounts for early and upfront payments.
Find out more about Henley Business School >>>
4. IIE MSA
The Independent Institute of Education bought the Monash University campus in 2019 and rebranded it to IIE MSA. The organization’s vision is to contribute to the development of societies and enabling students to achieve their full potential. It has over two decades of educational excellence, and they offer a wide range of courses across various departments.
An upfront settlement cost of R150,000.
Find out more about IIE MSA >>>
5. North-West University
North-West University offers an MBA through the NWU School of Business & Governance. It’s a degree that is accredited by the Higher Education Quality Council in South Africa, and internationally by AMBA in the United Kingdom, and the AABS in Africa.
The faculty of the NWU Business School is focused on combining theory and practice, in order to fully develop the strategic leadership potential of business managers. The programme content and standard of the NWU Business School’s MBA ensures that participants acquire skills with regard to best business practice and thought-leadership that can successfully be applied to the multi- disciplinary challenges encountered.
NWU does not disclose its fees in its MBA manifesto – and instead encourages prospective students to contact them directly.
Find out more about North-West University >>>
6. Management College of Southern Africa
Management College of Southern Africa, better known as MANCOSA, offers various business-related courses – including an MBA. According to the business school its MBA allows participants to gain in-depth understanding of the forces shaping business developments in dynamic markets.
It also positions itself as one of the most affordable and accessible MBA programmes in South Africa.
Its MBA programme runs over two years with year one and two combined, and paid in cash on registration at the start of each year. This costs about R99,850.
Find out more about the Management College of Southern Africa >>>
7. Milpark Business School
Milpark Education was founded in 1997. It received AMBA accreditation in 2018, and according to its website its MBA curriculum consists of “a purposefully selected blend of modules that ensure the development of managers skilled in the areas of social responsibility and corporate citizenship.
Milpark business schools offer both contact and online options, which attract different fees. The in-person course currently costs R236,300.
Find out more about Milpark Business School >>>
8. Nelson Mandela University Business School
NMU’s Business School offers an accredited MBA. The university says its MBA is for “self-motivated professionals and requires energy, creativity, honest self-reflection, self-awareness and self-discipline”.
In NMU’s Business School, the estimated MBA fees which is split over two years and subject to a 10% increase in year two amount to R113,834. This excludes an optional international field trip that costs R50,000 for those selected to participate.
Find out more about Nelson Mandela University >>>
9. Rhodes Business School
Rhodes University offers a fully accredited MBA through its Rhodes Business School. Its MBA is accredited by the Council on Higher Education, and the school is a member of the South African Business Schools Association and African Association of Business Schools. Their MBA programme is also internationally accredited through the Association of MBAs.
Find out more about Rhodes Business School >>>
10. Wits Business School
The WBS offers a full MBA, that is the school’s flagship academic programme. According to their website, the curriculum uses a combination of theory and guided practical application to develop the skills you need to be a great manager or leader in Africa and worldwide.
The course runs over two years on a part time level and focuses around five themes: Context in Africa, Context in South Africa, Sustainability, Entrepreneurial Action, and Critical Engagement.
In 2021, an MBA through the Wits Business School cost R249,920.
Find out more about Wits Business School >>>
11. University Of Free State Business School
The UFS Business School offers several business-related courses, of which their MBA is the flagship degree. They have accreditation from the Council for Higher Education, and the Central and East European Management Development Association International Accreditation.
UFS charges a selection fee of R2,200, and a registration fee of R1,160. After that, the course is charged on a per-module basis. Their five credit module costs R6,500 while the 8 or 10 credit module is R8,000.
Find out more about University Of Free State Business School >>>
12. University of Cape Town Graduate School of Business
The UCT Graduate School of Business runs one of the most popular and high-ranking MBAs in South Africa. The school is affiliated with the European Foundation for Management Development, the Association to Advance Collegiate Schools of Business, and the Association of MBAs.
The school is constantly investing in quality scholarship and strong partnerships to support their vision. The GSB achieved the highest position of all South African business schools in the latest QS rankings.
A full time MBA at UCT’s Graduate School of Business costs R271,640, with an acceptance fee of R25,000.
Find out more about University of Cape Town Graduate School of Business >>>
13. University of KwaZulu-Natal Graduate School of Business and Leadership
The Graduate School of Business and Leadership at UKZN has a record in providing management education and training to business and public sectors. According to its enrolment brochure, the GSB&L is a Full Member of the Association of African Business Schools and a Member of the South African Business Schools Association. Their MBA programme is internationally recognised and accredited by the Council on Higher Education of South Africa.
The cost of enrolling for an MBA in the school is R156,190. This includes all registration fees, levies, and tuition over two years.
Find out more about University of KwaZulu-Natal >>>
UNISA also offers an MBA programme to learners – a postgraduate degree that is structured to turn a manager into a holistic leader capable of propelling an organisation and its people to success.
MBA at UNISA costs R187,793, 50% of which is due on registration.
Find out more about UNISA >>>
15. University Of Stellenbosch Business School
USB was recently rated among the top 150 business schools in the world, and the third-best in South Africa, by QS.
The MBA course there runs over two years, is in a flexible format, and has four different streams. The combined fees of both years is currently R278,480.
Find out more about University Of Stellenbosch Business School >>>
In conclusion, there is no stipulated cost for studying MBA in South Africa. As seen in this article, the cost of studying an MBA is dependent on the choice of school as the fees vary. Thus, it is advisable to carry out further research on your choice school before applying. However, every school is unique in their own way. So, go for a school you can afford.
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