An MBA is one of the most expensive postgraduate degrees in the world, with top programmes charging $60,000–$120,000 in tuition alone. For African students, that price tag makes scholarships not just helpful but essential, and fortunately, MBA funding is one of the more developed areas of international scholarship giving.
Unlike a research master's or PhD, MBA funding usually comes from three distinct sources: government-backed scholarships that are open to any field of study (like Chevening or DAAD EPOS, both of which fund MBAs), MBA-specific scholarships run directly by business schools for women or underrepresented regions (like the Forte Foundation Fellowship or INSEAD's need-based awards), and blended-finance vehicles like the Mastercard Foundation that fund full study-and-leadership packages at partner universities.
This guide walks through every route on the StudiePoint database that funds an MBA, plus a few respected MBA-specific scholarships to research directly with the business school, so you can build a realistic funding shortlist instead of applying blind.
Several of the largest fully funded scholarship programmes explicitly accept MBA applicants because they fund any field of study, not just research degrees. Chevening (UK) funds one-year MBAs at UK business schools including Manchester, Warwick, and Cranfield, and is one of the few routes that fully funds a top-50 MBA with no post-study bond. DAAD EPOS (Germany) funds MBA and management master's programmes with explicit development relevance, particularly at German business schools with strong Africa-focused electives. Erasmus Mundus Joint Master's degrees include several international business and management tracks delivered across two or more European countries. Because these scholarships evaluate leadership and development impact rather than pure academic research potential, MBA applicants: who typically have several years of work experience: are often strong candidates.
Beyond StudiePoint's core database, a handful of scholarships are built specifically for the MBA and are worth researching directly with the business school's admissions or financial aid office: the Forte Foundation Fellowship (need- and merit-based awards at over 50 partner business schools for women pursuing an MBA), INSEAD's need-based and diversity scholarships including awards earmarked for African nationals, ESMT Berlin and Frankfurt School of Finance & Management's Africa-focused merit scholarships, the Mannheim Business School MBA scholarship for emerging-market applicants, and IMD's need-based MBA scholarships in Switzerland. These are not full-ride in every case, some are partial-tuition awards, so always confirm the exact funding percentage and any post-MBA obligations before applying.
MBA admissions weigh work experience and leadership potential more heavily than undergraduate GPA compared to research degrees. Most competitive MBA scholarships still expect a GPA equivalent to 3.0/4.0 or higher, but a strong GMAT/GRE score, 3–8 years of progressively responsible work experience, and clear evidence of leadership (managing teams, launching initiatives, community leadership) can offset a lower undergraduate GPA. If your GPA is on the African percentage, letter, or GPA-out-of-5 scale, use the StudiePoint GPA converter to see your equivalent before you rule yourself out of a programme's stated minimum.
Yes. Chevening and DAAD EPOS both fund full MBAs at accredited business schools in the UK and Germany respectively, covering tuition, a living stipend, and flights. MBA-specific scholarships like Forte Foundation and INSEAD's need-based awards can also cover full or partial tuition. A fully funded MBA is achievable, but it usually requires applying to multiple routes in the same cycle rather than relying on one scholarship.
Most MBA scholarships expect a GPA equivalent to 3.0/4.0 or above, but work experience, GMAT/GRE scores, and leadership record carry significant weight alongside your undergraduate GPA. A strong professional track record can offset a GPA that is on the lower end of a programme's stated range.
Yes. Chevening funds one-year MBAs at UK business schools, including Manchester, Warwick, and Cranfield, as long as the programme is a full-time taught master's degree. It covers tuition, a monthly stipend, flights, and often a visa fee allowance.
The Mastercard Foundation partners with specific universities and programmes, and MBA eligibility depends on which partner institution you are applying through. Check the current partner university list, as it is periodically updated, and confirm whether the MBA track is included at that specific partner school.
Most funded MBA programmes expect 3–8 years of full-time work experience. Executive MBA scholarships may expect more, often 8+ years with management responsibility. Applying with too little work experience (under 2 years) significantly weakens your case for almost every MBA scholarship, since these programmes are built around peer learning from professional experience.
Last updated: July 2026. Find scholarships on StudiePoint AI →