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)

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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
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