National Student Financial Aid Scheme (NSFAS)

Contact Details

Physical: 2nd Floor, House Vincent, Wynberg Mews, 10 Brodie Road, Wynberg, Cape Town, 7700
Postal: Private Bag X1, Plumstead, 7801
Tel: 021 763 3200 / 0860 067 327
Web:

Overview

The mission of the National Student Financial Aid Scheme (NSFAS) is to transform NSFAS into an efficient and effective provider of financial aid to students from poor and working class families in a sustainable manner that promotes access to, and success in, higher and further education and training, in pursuit of South Africa’s national and human resource development goals.

The mission statement is made up of three distinct elements which describe why NSFAS exists, what it does, and the impact on its constituency: NSFAS exists to provide financial aid to eligible students at public TVET colleges and public universities; NSFAS identifies eligible students, provides loans and bursaries, and collects student loans repayments to replenish the funds available for future generations of students; and NSFAS supports access to, and success in, higher education and training for students from poor and working class families who would otherwise not be able to afford to study.

Office Bearers/Management

Chairperson
Mr S Nxasana
Chief Executive Officer
Mr L Nage

Chairperson:
Mr Sizwe Nxasana
Deputy Chairperson:
n/a
Board Members:
Ms Mary Bomela
Ms Julia de Bruyn
Prof Neil Garrod
Mr Nathan Johnstone
Ms Rose Keanly
Ms Sibongile Masinga
Ms Nafisa Mayat
Mr Thabo Moloja
Prof Themba Mosia
Mr Lumko Mtimde
Mr Yershen Pillay
Mr Jaco van Schoor
Ms Pearl Whittle
Mr Andre Zeeman
Chief Executive Officer:
Mr Lerato Nage (Acting)
Chief Financial Officer:
Morgan Nhiwatiwa (Acting)
Chief Operations Officer:
n/a
Senior Management:
Ms Nancy Naidoo (Chief Risk Officer)
Communications Officers:
Kagisho Mamabolo (Head: Marketing and Communications)

Financial Information

All Financial Values: R'0002015/162014/152013/142012/13
 
AUDIT OUTCOMEFinancially UnqualifiedFinancially UnqualifiedFinancially UnqualifiedFinancially Unqualified
 
FINANCIAL POSITION
Current Assets3 202 7233 197 4583 267 4822 260 723
Non-Current Assets6 888 5945 749 3746 983 0225 761 754
Total Assets10 091 3178 946 83210 250 5048 022 477
Current Liabilities1 057 7961 571 6031 777 745340 492
Non-Current Liabilities----
Total Liabilities1 057 7961 571 6031 777 745340 492
Total Net Assets9 033 5217 375 2298 472 7597 661 985
 
FINANCIAL PERFORMANCE
Total Revenue10 263 7629 752 8018 670 1708 024 192
Revenue from Exchange Transactions720 267871 41421 597n/a
Revenue from Non-Exchange Transactions9 543 4958 881 3878 648 573n/a
Total Expenditure(8 605 470)(10 850 331)(7 871 010)(5 060 500)
Employee Costs(95 939)(82 288)(65 862)(38 917)
Surplus/(Deficit) for Year1 658 292(1 097 530)799 1601 187 997
 
CASH FLOW
Net Cash Flows from Operating Activities(770 758)(518 545)(1 148 659)(855 369)
Net Cash Flows from Investing Activities147 817211 983260 148433 339
Cash & Cash Equivalents at End of Year912 9121 535 8531 842 415433 606
 
UIFW EXPENDITURE
Unauthorised Expenditure----
Irregular Expenditure3 5914783677 936
Fruitless & Wasteful Expenditure----
 
HUMAN RESOURCES
Posts Approved300300299n/a
Posts Filled258229215n/a
 
SourcesAnnual ReportAnnual ReportAnnual Report n/a

Overseeing Department/Entity

Annual Reports


The information in this directory is supplied and/or externally sourced and is also subject to continual change. If you notice any errors or omissions, please contact us at info@nationalgovernment.co.za so that we can correct them.
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