Bid to improve NSFAS’s image
New boss Zwane knows value of the organisation
In future, matriculants from poor backgrounds could know sooner – even before they write their final exams – whether they will receive funding for their university studies.
This is one of the priorities of Steven Zwane‚ the new CEO of the National Student Financial Aid Scheme (NSFAS).
Zwane began his new job on September 1 and has committed to make changes to improve the image of the organisation that helped fund his studies when he was a student.
This year‚ NSFAS made headlines when a student was mistakenly paid R14-million by a company contracted by the organisation.
“I would like to earn back the trust‚” he said.
With his experience in managing operations at Absa‚ Zwane wants to improve NSFAS by improving its student-centred model.
“Operations and technology have to work because people were asking why you have an error like the R14-million incident. If you don’t have a proper system and are still using a spreadsheet‚ you are likely to have manipulation. Why don’t you automate,” he asked.
“I would love to see a firsttime applicants know their results of whether they are successful or not tentatively before they write their exams.
“I would love to do that. This would inspire that person to do well … that is real-time feedback‚” he said.
Zwane worked as chief operating officer at Absa for retail business‚ business banking and insurance.
He is also a beneficiary of NSFAS. He studied for his first degree‚ a BSc in computer science‚ at the University of Zululand and paid back the money in the first three years of his working life.
Now armed with an MBA and valuable experience in the banking sector, he is facing an enormous challenge to turn the organisation around. The debt book stands at about R18billion and the collection rate has dropped from about R800million a year to R200-million after the National Credit Act stopped NSFAS from obtaining garnishee orders.
The financial aid scheme has taken its debt book to independent firms who are recovering some of the fund’s money. These companies have already recovered about R300million.
Zwane will be adding more capacity in the recovery division to bring more efficiency.
He said paying back the money is a societal thing.
“We live in a country where people feel that they must get things. This entitlement culture is so prevalent in all sorts of things.
“For example, this girl who received R14-million from the state... why did she have to spend money that was not hers?”
In the first few weeks into his job he learnt that the staff were not inspired to do their work. Another big initiative is to put a face to NSFAS.
Zwane has already started meeting with vice-chancellors from various universities to explain his vision and the type of relationship he wants to build with them.
This relationship‚ he said‚ is meant to improve data sharing and verification which causes the delay in the payments.
He will be meeting with student leadership to further build relationships with the people at the heart of his business.
Another hurdle he wants to change is the actual payment system. When students change cellphones, they do not alert the organisation and the money goes to their previous numbers.
In his view‚ a bank account is better as it remains the same even if the student changes cellphone numbers.