The Department of Microfinance, which is part of the faculty of Business Administration and Management, has led the way in the development of microfinance education in Africa. The department is responsible for training the students of the Diploma/Degree programme of Microfinance and Community Economic Development at UMU.

Currently, there are about 200 students from 16 african countries enrolled in the programme. The course is gaining increased recognition and has been recommended by the Consultative Group for the Alleviation of Poverty (CGAP). In close collaboration with the Microfinance African Institution Network (MAIN) as well as its informal links with many other organizations and institutions, UMU has made giant steps in the matter of microfinance education which began in 1998. GTZ/SIDA has supported the programme, from the beginning, through providing funding for the production of the study materials, and the annual three-week residential programme in Nkozi.