NSFAS chair Sizwe Nxasana resigns after ‘extreme strain’ on the payments system

Chris_the_Brit

Grand Master of the Friendzone
#1
Sizwe Nxasana, the well-regarded chairperson of the National Students’ Financial Aid Scheme (NSFAS), has resigned.

He confirmed to News24 that he informed minister of higher education Naledi Pandor of his decision on Monday.

It is time to move on and make way for new leadership and to see how government will take this forward," Nxasana said in an interview.

NSFAS came under fire recently after Pandor instructed the institution to halt funding for 2019 students because a backlog in disbursing aid for 2017 and 2018 had not been cleared. NSFAS has an annual budget of R30bn.

In a statement, Nxasana cites the "extreme strain" on the NSFAS payments system after then-president Jacob Zuma’s announcement of the extention of free higher education in December as a reason for the institution’s strife.

Zuma made the announcement without prior warning or consultation with actors in the higher education sector. He also seemed to ignore the findings of a commission of inquiry into higher education initiated after the #FeesMustFall protests.

Nxasana, a former CEO of FirstRand, denied recent reports which said NSFAS was in crisis and said the organisation was stable and functioning.

"But yes, there are challenges facing NSFAS. The environment changed after the announcement by the then-president (Jacob Zuma) last year about the extention of free higher education and we had to change our systems and processes to accommodate the new situation. Government will now have to decide how to manage it going forward," he said.
https://www.news24.com/SouthAfrica/...xtreme-strain-on-the-payments-system-20180809
 

BBSA

Executive Member
#2
Another desaster thanks to socialist policies. But wait, let's try NHI and EWC and see how that will work.
 

Sneeky

Honorary Master
#4
pfff, hau shem.

This is the same dude that had a free ride during the Telkom days when the mantra was 'nobody needs more than 3gb pm' while making a fortune along with his execs in a protected environment.

CEO of Telkom SA Limited from 1998-2005

Don't worry, he wont be begging on any corner soon looking for a slice of bread.

edit: 'well regarded' my ass
 
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#5
pfff, hau shem.

This is the same dude that had a free ride during the Telkom days when the mantra was 'nobody needs more than 3gb pm' while making a fortune along with his execs in a protected environment.

CEO of Telkom SA Limited from 1998-2005

Don't worry, he wont be begging on any corner soon looking for a slice of bread.

edit: 'well regarded' my ass
According to the News24 post I read this morning - he was CEO of FirstRand between 2006 and 2015... so not Telkom:

Nxasana, a chartered accountant, was CEO of banking holding company FirstRand between 2006 and 2015, before being appointed to put NSFAS back on even keel by then-minister of higher education Blade Nzimande in 2015.

https://www.news24.com/SouthAfrica/...xtreme-strain-on-the-payments-system-20180809
 
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#6
According to the News24 post I read this morning - he was CEO of FirstRand between 2006 and 2015... so not Telkom:

Nxasana, a chartered accountant, was CEO of banking holding company FirstRand between 2006 and 2015, before being appointed to put NSFAS back on even keel by then-minister of higher education Blade Nzimande in 2015.

https://www.news24.com/SouthAfrica/...xtreme-strain-on-the-payments-system-20180809
https://en.wikipedia.org/wiki/Sizwe_Nxasana

He is the former CEO of FirstRand Limited and Telkom SA Limited from 1998-2005
 

rpm

Admin
Staff member
#7
According to the News24 post I read this morning - he was CEO of FirstRand between 2006 and 2015... so not Telkom
He was Telkom CEO when the company listed. Many people warned that his policies of mass retrenchments and not enough network investment will hurt Telkom in the long run, but these policies were good news to shareholders - in those days one of the main shareholders were SBC Communications.

Some info here: https://mybroadband.co.za/vb/showthread.php/14349-Telkom-sale-SBC-gets-542m
 
#15
Yeah the ANC should take a hint. When those who know what's what starts jumping off the ship then something is wrong.

"Zuma made the announcement without prior warning or consultation with actors in the higher education sector. He also seemed to ignore the findings of a commission of inquiry into higher education initiated after the #FeesMustFall protests."

There you have it. In a nutshell. Political expediency trumping technical practicality. I hate all these politicians who do as they please for short term political capital. We need more politicians who put the solution first. Not just... Whatever will get them elected (again).
 
#16
Yeah the ANC should take a hint. When those who know what's what starts jumping off the ship then something is wrong.

"Zuma made the announcement without prior warning or consultation with actors in the higher education sector. He also seemed to ignore the findings of a commission of inquiry into higher education initiated after the #FeesMustFall protests."

There you have it. In a nutshell. Political expediency trumping technical practicality. I hate all these politicians who do as they please for short term political capital. We need more politicians who put the solution first. Not just... Whatever will get them elected (again).
Those are like flying pigs and hen's teeth... we are **** out of luck I guess
 

f2wohf

Honorary Master
#18
Enjoy fat salary and perks and when asked what has been done resign with no accountability. Typical cadre.
Any proof that he’s a cadre?

He was made way before getting in Telkom and was always in the private sector before this or even BEE.

But I can read your thinking, don’t worry. He’s a cadre because these people don’t have the ability to be successful executives and must be there only through their connections, am I right?
 
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Hemi300c

Honorary Master
#19
Any proof that he’s a cadre?

He was made way before getting in Telkom and was always in the private sector before this or even BEE.

But I can read your thinking, don’t worry. He’s a cadre because these people don’t have the ability to be successful executives and must be there only through their connections, am I right?
Proof is in the situation. He did wonders and payments are working and fully up to date. The only appointment I can clearly see was not a cadre was Tuli Madonsela
 

thechamp

Honorary Master
#20
Any proof that he’s a cadre?

He was made way before getting in Telkom and was always in the private sector before this or even BEE.

But I can read your thinking, don’t worry. He’s a cadre because these people don’t have the ability to be successful executives and must be there only through their connections, am I right?
He's black, that is all the proof Hemi needs.
 
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