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Today, Wednesday 10 January 2024, the Board of National Student Financial Aid Scheme (NSFAS) held a special meeting to discuss the NSFAS state of readiness for the beginning of the 2024 academic year.

During the meeting, the Board Chairperson, Mr Ernest Khosa, voluntarily tabled a notice of thirty days leave of absence in order to enable the Board to deal with all the allegations against him as contained in the recordings distributed by the Organisation Undoing Tax Abuse (OUTA).

The Chairperson reiterated to the Board that he had never received any financial gratification for his personal use or facilitated any for the Minister of Higher Education, Science and Innovation or the South African Communist Party.

The Board Chairperson also raised concerns about threats that have been made against his life and that of his family.

The Board instantly informed the Minister of Higher Education, Science and Innovation, Prof Blade Nzimande, of the leave notice tabled by the Board Chairperson. In terms of the NSFAS Act, the Minister has the fiduciary responsibility to appoint the acting board chairperson in the absence of the chairperson.

The Board takes this opportunity to thank Mr Khosa for his honourable, brave and responsible decision to voluntarily take leave of absence, and hails his decision as a responsible and conscious step to advance good corporate governance, transparency and accountability. The Board would like to emphasise that this  decision should not be interpreted as an admission of guilt on the part of the Chairperson.

Expressly, the Board resolved to appoint an independent legal firm to look into the veracity of the allegations against the Board Chairperson. The legal firm, soon to be announced by the Board, will be expected to submit its findings within 30 days of their appointment.

The Board would also like to assures all South Africans that this process will be handled with due diligence and integrity.

The Board would like to assure all South Africans that it will continue to work with all stakeholders within the post-school education and training sector to ensure that there is a seamless and successful beginning of the 2024 academic year. Part of the Board’s pre-occupation will be the appointment of the new Chief Executive Officer (CEO).

The Board would also like to report to the public that the 2024 application process is proceeding extremely well, with applications having reached the nine hundred thousand (900 000) mark.

The NSFAS Board would like to encourage all prospective students to apply for the bursary while they are awaiting their final matriculation results.

Furthermore, the Board extends its gratitude to Mr Khosa’s family for having supported him throughout this difficult period.

Issued by National Student Financial Aid Scheme