Seasoned corporate executive Sizwe Nxasana has stepped down as chairman and member of the board of the National Student Financial Aid Scheme (NSFAS). "After three years at the helm the time is right for me to step aside," Nxasana said in a statement on Thursday. "I informed the minister of higher education and training of my resignation on Monday, August 6, and offered my support to ensure an orderly handover process. It has been a privilege and honour to serve as a NSFAS board member and chairperson. NSFAS was conceived to deliver financial aid to students from poor and working-class backgrounds, and in 2018 alone financed over 400,000 students." Nxasana, a former FirstRand CEO, was appointed NSFAS chairman in 2015. He was tasked with turning around the scheme which had been dogged by corruption and mismanagement that resulted in many disadvantaged young people missing out on higher education opportunities. In recent months, NSFAS has been struggling to ensure the smooth roll-out o...
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