Today's Labour News

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nsfasNews24 reports that Higher Education Minister Blade Nzimande has appointed Freeman Nomvalo, the former CEO of the SA Institute of Chartered Accountants, as the administrator of the National Student Financial Aid Scheme (NSFAS).

This after Nzimande dissolved the NSFAS board with immediate effect on Thursday and placed the entity under administration. According to a Government Gazette on Friday, Nzimande raised serious concerns about the failure of NSFAS to effectively confirm funding for students and to disburse funding timeously to students in technical vocational education and training (TVET) colleges and universities. “The administrator may appoint the necessary technical expertise to provide support during the period of administration, in consultation with the department,” the minister said. The administrator will take over the governance, management and administration of NSFAS for a period of two years from the date of the Gazette. The terms of reference of the administrator during this period include “resolving data integration challenges as a matter of urgency, finalising all necessary funding decisions, ensuring reconciliation of funding data between universities and TVET colleges and NSFAS, ensuring that all the necessary agreements are in place and that students are accurately funded and recorded, and making sure that all NSFAS qualifying students receive funding.” They also include overseeing the opening of the 2025 online applications process (both bursary and loan), as well as developing “in consultation with the department, universities and TVET colleges, an effective and realistic plan for the 2025 funding cycle.”

  • Read the full original of the report in the above regard by Prega Govender at News24
  • Read too, Top accountant Freeman Nomvalo sent to rescue NSFAS, at City Press (subscriber access only)
  • En ook, Oud-Saica-hoof sal NSFAS bestuur, by Maroela Media

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