National student bursary scheme must be more efficient: chair

2015-08-05 14:57
First Rand CEO Sizwe Nxasana. (File, Who's Who)

First Rand CEO Sizwe Nxasana. (File, Who's Who)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories


Higher education to cover NSFAS shortfall - Nzimande

2014-01-31 08:38

Another R1bn has been added to the National Students Financial Aid Scheme (NSFAS), Higher Education minister Blade Nzimande says.WATCH

Cape Town - The new chair of the National Student Financial Aid Scheme (NSFAS), Sizwe Nxasana, says he wants to elevate its level of efficiency.

But he will first make sure he understands the organisation, he told reporters on Wednesday.

“I don’t want to work on the basis of conjecture, rumours and speculation,” he said.

“I will be spending time with the team, the board and other stakeholders to make sure we understand what is going on before we start dealing with some of the issues and challenges the NSFAS faces.”

Nxasana is the outgoing chief executive officer of financial services group FirstRand.

Higher Education Minister Blade Nzimande announced his appointment on Wednesday, saying Nxasana will serve on the board in a non-executive position until August 31, 2019.

Nxasana said the scheme has its challenges but continues to operate. His role, and that of other board members, is to conduct oversight.

He will be expected to oversee a forensic audit into the extent and nature of corrupt practices within the scheme’s administration.

Nzimande said the department has “loads” of anecdotal evidence of corruption.

In one case, a bookshop pretending to sell textbooks to students has in fact used that as a front to sell electronic goods such as flat-screen televisions, he said.

Nxasana takes over from Zamayedwa Sogayise, whose term recently came to an end.

Nxasana served as the Telkom CEO from 1998 to 2005.

He holds several honorary doctorates and was recently awarded the Doctor of Accounting Science degree from Walter Sisulu University for his contribution to the growth, development and transformation of the accounting profession.

He is the co-founder of the National Education Collaboration Trust.

Read more on:    nsfas  |  sizwe nxasana  |  education

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.