The National Student Financial Aid Scheme (NSFAS) and its Chief Financial Officer (CFO), Masile Ramorwesi, have reached a mutual termination and separation agreement. The official signing took place on 11 June 2024.
NSFAS provides comprehensive financial aid to deserving students through bursaries, loans, and NSFAS allowances covering living expenses, learning materials, and accommodation.
This aid is only provided to students enrolled in approved courses at public universities and Technical and Vocational Education and Training (TVET) colleges in South Africa.
NSFAS acknowledged Ramorwesi's considerable institutional knowledge and contributions to the government bursary scheme. In recognition of this, the agreement stipulates that Ramorwesi will remain available to the scheme until the end of July 2024.
This transition period aims to ensure a smooth handover and continued support for NSFAS's financial operations.
NSFAS recognizes that Mr Masile Ramorwesi possesses considerable institutional knowledge that will be required by the scheme. As the basis of this mutual agreement, Mr Ramorwesi remains available until the 31st of July 2024.
NSFAS Administrator Freeman Nomvalo expressed gratitude for Ramorwesi's service, highlighting his significant contributions to both NSFAS and the broader Post School Education and Training Sector.
The NSFAS Administrator, Freeman Nomvalo, wishes Mr Ramorwesi well in his future endeavours and is grateful for his contribution to NSFAS and the Post School Education and Training Sector
Major Institutional Change At NSFAS
Ramorwesi’s mutual termination represents another major institutional change at NSFAS. NSFAS administrator Freeman Nomvalo was appointed after Minister Blade Nzimande fired the NSFAS board.
Hours before the NSFAS board was sacked, NSFAS board chair Ernest Khosa resigned.
Khosa’s notice followed the release of audio recordings by the Organisation Undoing Tax Abuse (OUTA), suggesting he, Minister Nzimande, and the South African Communist Party (SACP) received kickbacks for a lucrative tender, allegations they deny.
Nzimande dismissed the recordings as gossip, calling the accusations reckless and aimed at disrupting the 2024 academic year.
Before his resignation, Khosa took a leave of absence. This decision was praised by the NSFAS Board labelling it as a step towards promoting corporate governance, transparency, and accountability, emphasising it was not an admission of guilt.
