WPCS 2.1.2
Tuition Fees:$0 /year
Final Award:Master of Science in Mathematical Finance
Start Date:May 2020
Academic Unit:Strathmore University Institute of Mathematical Sciences
Campus:Madaraka Campus
Application Deadline:
Programme Overview

The pace of change in the financial sector has never been faster than it is today. Rapid innovation and interdependency in the field of investment, risk management, and financial product development have necessitated the need for individuals with adept quantitative skills and an advanced understanding of the theoretical concepts underlying financial markets today.

The Master of Science in Mathematical Finance offered at the Institute of Mathematical Sciences, Strathmore University covers material in finance with a deep interaction and contribution from fields such as statistics, computing, and applied mathematics. The program provides fundamental training for a successful graduate who is in or seeking a career in analytical industry practice or related academic research in finance.

By the end of the program, the student should be able to:
– Apply their knowledge and training in finance, with applied mathematics, statistics and probability theory, to industrial and academic settings such as: asset pricing, risk management, mathematical modelling and statistical data analysis
– The program provides substantial knowledge needed for a successful career in quantitative finance
– It structured to expose students to both practical and theoretical aspects of study. Such sophisticated skills are in high demand, in both frontier and developed markets globally, especially with the increasingly complex financial markets and the related regulatory structures being adopted
– Working from alternative theoretical frameworks, the program provides applications of tools developed to different asset classes, including fixed income and derivatives
– Provide the student with appropriate quantitative training to carry out doctoral studies at any leading institution worldwide


The course covers 16 course units offered over 4 academic semesters and a subsequent dissertation project. The program relies on MATLAB, R, C++ as the computing languages for modelling. Some of the core modules include the following:
– Discrete Time Modelling and Derivative Securities
– Financial Time Series Analysis
– Asset Pricing and Portfolio Theory
– Object Oriented Programming with Applications in Finance
– Empirical Finance
– Energy Analytics and Derivatives
– Stochastic Control and Dynamic Asset Allocation
– Mathematical Methods of Finance
– Numerical Methods of Finance

Admission Requirements

Entry Requirements
a) The following are eligible for admission into the MSc. Mathematical Finance:
– Holders of First Class or Upper Second in Mathematics or a related discipline; OR
– Holders of Lower Second Class degrees in Mathematics or a related discipline plus Postgraduate Diplomas in relevant areas; OR
– Holders of Lower Second Class Degrees in Mathematics or related disciplines plus a minimum of two years of working experience OR
– Holders of other related qualifications from recognized universities
b) In addition to meeting the above criteria, the applicants will be required to attend and pass an oral interview and a Graduate Entrance Examination (GEE).
c) They will also be required to present two reference letters from academic referees

Application Process
Application Fees for Kenyan Students : $23
Application Fees for International Students: $23

  1. The documents to bring during the interview. (Application form and reference form-these are  attached for you to download, print and bring already filled) – Click here to download Application Form – Click here to download Reference Form
  2. Application requirements:

– Originals and copies of relevant (undergraduate & secondary school) certificates and complete academic transcripts with grades attained
– Two (2) completed Reference Forms. One referee should be Academic.
– An updated Curriculum Vitae/Resume.
– 3 passport size photos.
– A copy of National Identity Card (ID) or copy of Passport
– Kshs 2,500 Interview fee payable on the interview day
Please note that all photo-copies of certificates and ID should be certified by a lawyer as true copies of the original.
*Please report to the university’s admissions office or call 0703034228

Career Opportunities

The program will prepare students for analytical roles in the finance industry and academic research roles, including but not limited to:
– Investment Banking,
– Quantitative Risk Management and Securities Trading.
In Kenya, graduates with an MSc Mathematical Finance can work as analysts in Investment Banks, Insurance, Banking, Regulators such as the Capital Markets Authority, Insurance Regulatory Authority, Kenya Revenue Authority, which require quantitative analysts in finance, pricing and risk management.

Tuition Fees Details
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Tuition Fees for Kenyan Students : $0
Tuition Fees for International Students: $0

Tuition Fees for Kenyan Students =
Tuition Fees for International Students =
The fees can be changed at anytime as decided by the school authorities.

Relevant Contact

Ferdinand Okoth Othieno
Dean, Strathmore University Institute of Mathematical Sciences
Admissions Office
For Admissions Enquiries
General School Office
For General Enquiries