National Student Financial Aid Scheme Strategic Plan for ...

NSFAS Strategic Plan for the fiscal years 2015/16 – 2019/20

National Student Financial Aid SchemeStrategic Plan for the fiscal years

2015/16 – 2019/20

1 NSFAS Strategic Plan for the fiscal years 2015/16 – 2019/20

Table of contents

Official Sign-off 2

Abbreviations 3

Foreword by the Chairperson 4

Part A: Strategic Overview 5

1. Mandate 5

2. Vision 5

3. Mission 5

4. Values 5

5. Legislative and Other mandates 6

6. Situational Analysis 8

7. Description of the Strategic Planning Process 11

Part B: Strategic Objectives 12

8. Strategic Outcome Oriented Goals 12

9. Strategic Objectives 13

10. Resource Considerations 18

11. MTEF Allocation Estimates 19

12. Risk Management 20

13. Links to the Long-term Iinfrastructure and other Capital Plans 20

Annexure A: Framework of Acceptable Levels of Materiality and Significance 23

2NSFAS Strategic Plan for the fiscal years 2015/16 – 2019/20

Official Sign-offIt is hereby certified that this Strategic Plan:

• wasdevelopedbythemanagementoftheNationalStudentFinancialAidScheme (NSFAS)undertheguidanceofitsBoard;• takesintoaccountalltherelevantlegislation,regulationandpolicies;• accuratelyreflectsthestrategicoutcome-orientatedgoalsandobjectivesthatNSFAS willendeavourtoachieveintheyears2015/16to2019/20.

LeratoNageChief Financial Officer Signature:

Joy SixholoSenior Manager: Strategic Planning and Performance Signature:

MsulwaDacaExecutive Officer Signature:

Approved byProf. Themba MosiaActing Chairperson Signature:


Abbreviations

AGSA Auditor-General South Africa

CFO Chief Financial Officer

CIO Chief Information Officer

COO Chief Operations Officer

CGICTAS Corporate Governance of Information and Communication Technology Assessment Standards

DBE Department of Basic Education

DHET Department of Higher Education and Training

EO Executive Officer

EXMA Executive Management

GM General Manager

NDP National Development Plan

NSDS National Skills Development Strategy

NSF National Skills Fund

NSFAS National Student Financial Aid Scheme

PCHET Portfolio Committee on Higher Education and Training

PPPFA Preferential Procurement Policy Framework Act

SARS South African Revenue Service

SETA Sector Education and Training Authority

SMART Specific, Measurable, Achievable, Realistic and Timebound

TVET Technical and Vocational Education and Training


Foreword by the ChairpersonThisdocumentsetsouttheStrategicPlanoftheNationalStudentFinancialScheme(NSFAS)forthefiscalyears2015/2016to2019/2020 inaccordancewithnational imperativesandrepresentstheaspirationsofNSFAStodeliveronitsmandate.TheStrategicPlandefinesthestrategicobjectives, targetsandkeyperformance indicators(KPIs)whichwillbeutilisedtomeasureperformance.TheStrategicPlanalsoidentifiesthefunding required to achieve the stated strategic objectives.This document sets out priorities for NSFAS in a manner that emphasises the outcomes-orientated monitoring and evaluation approach of the Presidency and has been guided by:

• NSFASAct(Act56of1999);• NationalSkillsDevelopmentStrategy(NSDS)III;• MinisterialReviewofNSFAS;• WhitePaperforPost-SchoolEducationandTraining;• NationalDevelopmentPlan;and• otherrelevantlegislation,regulation,policiesandthechangingpost-schoolenvironment inwhichNSFASoperates.

This Strategic Plan outlines a disciplined approach to supporting the ongoing transformation ofNSFASbycontinuingtobuildonthefoundationthathasbeenlaidoverthepasttwoyears.Itisbasedonthetwostrategicgoalsguidingtheentity’sstrategicdirection,namely:

Goal 1:Anefficientandeffectivepublicentityinstudentfinancialaid;Goal 2: Access to higher education and improved student financial aid environment.

In delivering the objectives set out in this plan, NSFAS will be working with many otherorganisationswhichshareitsdedicationtoprovidingaccesstohighereducationandtraining.

Prof. Themba MosiaActing Chairperson


Part A: Strategic Overview1. Mandate

NSFASisresponsiblefor:• providingloansandbursariestoeligiblestudents;• developingcriteriaandconditionsforthegrantingofloansandbursariestoeligible studentsinconsultationwiththeMinisterofHigherEducationandTraining;• raisingfunds;• recoveringloans;• maintainingandanalysingadatabase;and• undertakingresearchforthebetterutilisationoffinancialresourcesandadvisingthe Minister on matters relating to student financial aid.

2. Vision

A model public entity that provides financial aid to all eligible public university and Technical andVocationalEducationandTraining(TVET)collegestudentsfrompoorandworkingclassfamilies.

3. Mission

TotransformNSFASintoanefficientandeffectiveprovideroffinancialaidtostudentsfrompoorandworkingclassfamiliesinasustainablemannerthatpromotesaccessto,andsuccessin,higherandfurthereducationandtraining,inpursuitofSouthAfrica’snationalandhumanresource development goals.

The mission statement is made up of three distinct elements which describe why NSFASexists,whatwedo,andtheimpactonourconstituency: • NSFAS exists to provide financial aid to eligible students at public TVET colleges and public universities.• NSFASidentifieseligiblestudents,providesloansandbursariesandcollectsstudent loan repayments to replenish the funds available for future generations of students.• NSFASsupportsaccessto,andsuccessin,highereducationandtrainingforstudents frompoorandworkingclassfamilieswhowouldotherwisenotbeabletoaffordtostudy.

4. Values

External Values for our Students and Stakeholders:

Accessibility- Wecreateanenvironmentthatallowsefficient,effectiveanddirectaccess toNSFASandthefundingitprovidestoeligiblestudents.Transparency-Weareopenandhonestwithallstudentsandstakeholders.Affordability- Weofferaffordablesolutionsforstudentstostudyatpublicuniversities and TVET colleges.


Reliability- Wehonourourcommitmentsandstrivetodeliveronourmandate.Authenticity- Weprotectourstudentsandstakeholdersbyofferingqualityservicesand information.

Internal Values for our staff and organization:

Integrity- Weactwithintegritytowardsallstakeholders,andsupportclientsthat uphold the same values. Accountability-Wetakeresponsibilityforouractionsthatdriveperformancemanagement.Respect - Wetreatallourstaffmemberswithrespectandfairness.Innovation- Westrivetoinnovateincommunicatingwithandservingstudents.

5. Legislative and Other mandates

TheNationalStudentFinancialAidScheme,establishedintermsoftheNationalStudentFinancialAidScheme(Act56of1999),isresponsibleforprovidingloansandbursariestoeligible students at all public universities and technical and vocational education and training (TVET)colleges(formerlyknownasfurthereducationandtraining[FET]colleges)throughoutthe country. Further mandates for the entity include the recovery of student loans and raising funds for student loans and bursaries.

InadditiontomanagingfundsgrantedbytheDepartmentofHigherEducationandTraining(DHET),NSFASadministersfundingonbehalfoftheDepartmentofBasicEducationandtheDepartmentofSocialDevelopment,amongstothernationalandprovincialgovernmentdepartments. 5.1. Constitutional mandate

TheBillofRightsstatesinsection29:

Education:

(1)Everyonehastheright-a)toabasiceducation,includingadultbasiceducation;andb)tofurthereducation,whichthestate,throughreasonablemeasures,mustmakeprogressively available and accessible.

NSFAScontributestotheattainmentoftherightsdescribedinsection29byprovidingfinancialaidtostudentsfrompoorandworkingclassfamilies.NSFASenablesthesestudentstoaccesspost-schooleducation,therebyredressingtheresultsofpastraciallydiscriminatorylawsandpractices.Themandateincludestherecoveryofstudentloansandraising funds for student loans and bursaries.

5.2. Legislative mandates

TheNationalStudentFinancialAidSchemeAct,1999(Act56of1999),providesforthegrantingofloansandbursariestoeligiblestudentsattendingpublicuniversitiesandcolleges,and for the administration of student loans and bursaries.


InadditiontotheNSFASAct,legislationandregulationapplicabletoNSFASincludesthefollowing:• BasicConditionsofEmploymentAct,1997• EmploymentEquityAct,1998• EducationLawsAmendmentActs,2007,2011• FurtherEducationandTrainingAct,1998• HigherEducationAct,1997• LabourRelationsAct,1995• NationalCreditAct,2005• NationalEducationPolicyAct,1996• NationalQualificationsFrameworkAct,2008• NationalEnvironmentalManagementAct,1998amended2003• OccupationalHealthandSafetyAct,1993• PreferentialProcurementPolicyFrameworkAct(PPPFA),2000• PromotionofAccesstoInformationAct,2000• PromotionofAdministrativeJusticeAct,2000• ProtectionofPersonalInformationAct,2013• PublicFinanceManagementAct,1999• SkillsDevelopmentAct,1998• SkillsDevelopmentLeviesAct,1999• LearnershipRegulations• PPPFARegulations• NationalTreasuryRegulations• SETAGrantRegulations• HealthandSafetyRegulations

5.3. Policy Mandates

5.3.1. National Development Plan - 2030

TheNationalDevelopmentPlan(NDP)-2030providesthepolicyframeworkwithinwhichNSFAShasdevelopeditsstrategicplan.ItdetailsthechallengesthatthecountryisfacingaswellasthestrategicchoicesthatmustbemadetocreateabetterlifeforallSouthAfricans.

TheNDPprovidesextensivedetailontheninechallengesfacingSouthAfrica,amongsttheseandofparticularimportancetoNSFASisthechallengethat“Thequalityofschooleducationforblackpeopleispoor”.Asaresponsetothesechallenges,theNDPaimstoeliminatepoverty and reduce inequality by 2030 by:

•Raisingemploymentthroughfastereconomicgrowth; •Improvingthequalityofeducation,skillsdevelopmentandinnovation;and •Buildingthecapabilityofthestatetoplayadevelopmental,transformativerole. Onimprovingeducation,skillsdevelopmentandinnovation,theNDPfurtherprovidesa


broadframeworkforstudentfinancialaidinSouthAfrica: (i) Funding for qualifying students “ProvideallstudentswhoqualifyfortheNationalStudentFinancialAidScheme withaccesstofullfundingthroughloansandbursariestocoverthecostsof tuition,books,accommodationandotherlivingexpenses”.

(ii) Collections “TheNationalStudentFinancialAidScheme…shouldberecoveredthrough arrangementswiththeSouthAfricanRevenueService”.

5.3.2. The National Skills Development Strategy III

TheNationalSkillsDevelopmentStrategyIII-Thekeydriverofthisstrategyisimprovingtheeffectiveness and efficiency of the skills development system. This strategy represents an explicitcommitmenttoencouragingthelinkingofskillsdevelopmenttocareerpaths,careerdevelopmentandpromotingsustainableemploymentandin-workprogression.

6. Situational Analysis

6.1. Performance environment

This section identifies the key factors about the external and internal environments that informed the strategic planning process. The trends in the higher education and training sectorandSouthAfrica’seconomiclandscapewereconsidered.ThefactorslistedbelowwillhaveadirectimpactwithinthenextfiveyearsontheabilityofNSFAStodeliveronitsmandate. In addition a stakeholder identification and value analysis is provided.

i. Changing Strategic Landscape: External Environment

Overthenextfiveyears,theoperatingenvironmentwillbeaffectedbythefollowingexternalfactors:

A. Increase in number of students who will require NSFAS funding

(i) Basic education

TheDepartmentofBasicEducation’sActionPlanto2014“Towardstherealisation ofSchooling2025”,outlineshowtheDepartmentwillincreasethenumberofGrade 12learnerswhobecomeeligibleforaBachelorsprogrammeatauniversity(Goal4). Ifthegoalsarerealised,250000youthswillbeeligibletoenrollatauniversityby 2019,withinthetimeframeofthisStrategicPlan.

(ii) Post-school education

Inaddition,governmentplanstoraiseuniversityenrolmentsfromthecurrent 937,000to1,6millionby2030,toachieveaparticipationrateinhigher educationof25%,accordingtotheWhitePaper.ThetargetforTVETcollegesand otherpost-schoolinstitutionsis3,5millionstudents-afour-foldincreaseover


current numbers. (iii) Unfunded students

InadditionthereisagrowingconcernbyDHETtoincludestudentswhosefamily incomesfallabovetheNSFASthresholdforsupport,butbelowthenecessary threshold to obtain commercial loans.

B. Youth unemployment-SouthAfrica’sunemploymentforpeoplebetweenthe agesof15-24isthethirdhighestintheworldaccordingtotheWorldEconomic Forum(WEF)GlobalRisk2014Report.TheNDP’sresponsetotheseandother challengesistoimprovethequalityofeducation,skillsdevelopmentandinnovation asoneofthethreeprioritiestowardsreducingpovertyandinequalityby2030.This implies a more concerted effort at ensuring success for students at institutions. PartnershipswiththeNationalSkillsFund(NSF),SETAsandothergovernment institutionswillbecrucialinprovidingtherightskillsandimprovingtheprospectsof employment.

C. Limited resources – Limited financial resources remain the greatest challenge forNSFASannually.Theavailableresourcesarenotsufficienttosupportall applicants,thevastmajorityofwhomarefrompoorfamiliesandunabletopay fortheirownstudies.Whilstgovernmentspendingonhighereducationandpost- school skills development is set to increase over the MTEF period as announcedbyFinanceMinisterNhlanhlaNene(Mediumtermbudgetpolicy statement,2014),thiswillstillnotbesufficienttoreducethe funding gap. This implies the need for a collaborative fund raising and collections strategy to increase the pool of funds to ensure that students from poor and workingclassfamilieshavetheopportunitytoattenduniversityorcollege.

ii. Changing Strategic Landscape: Internal Environment

Overthenextfiveyearstheoperatingenvironmentwillbeaffectedbythefollowinginternalfactors:

• Rollingoutthestudent-centredmodelofprovidingfinancialaiddirectlytothe students. • Improvingend-to-endsystemintegrationwithothergovernmentsystemssuchas SARS and the Central Application system.• Improvinginternalcontrolsandpreventingfraudinthesystem.• Strengtheningthehumanresourcecapacity.• PositioningNSFAStomanagemorebursariesonbehalfofpublicsectorinstitutions and private foundations in an effort to raise more funding for student financial aid.• Renewingthefocusoncollections–implementingacomprehensivecollections strategythatwillre-examineamongstotherissues,lendingratesandcollections through SARS.


6.2 Stakeholder Value Analysis

ThissectionliststhekeystakeholdersofNSFAS,andtheirexpectations.Thisanalysisformedthecornerstoneofdevelopingthestrategicobjectiveswithaviewtoimprovingstakeholdersatisfaction.NSFASwillmonitorprogressonsatisfyingstakeholderneedswithinthe next five years.

Stakeholder What this Stakeholder needs from NSFAS to be satisfiedNSFASfundedstudents Efficient administration of financial aid

Timeous disbursement of tuition and residence fees to institutionsandallowancestostudentsImproved communication

StudentswhoareeligibleforNSFASfunding but are not funded

Financial aidInformation on access to loans and bursaries

Universities and TVET Colleges Efficient claims processingTimeous disbursement of tuition and residence fees to institutionsandallowancestostudentsImproved communications

Funders Improved communicationDeliveryofservicesintermsofthefundingcontractbetweenNSFASandFunders

DepartmentofHigherEducationandTraining

Performance in terms of mandateProvide policy adviceImproved communicationTimely reporting at agreed intervals

NationalTreasury Expenditure in terms of approved budgetPerformance in terms of mandate

ParliamentandPCHET Performance in terms of mandateTimely submission of required documents

Employees and staff trade union ContinuousimprovementinworkingconditionsImproved staff consultation and communication

NationalCreditRegulator Compliance

Private sector Partnership potential

FinancialServicesBoard The Treating Customers Fairly outcomes


7. Description of the Strategic Planning Process

Asastartingpointtotheplanningprocess,NSFAShostedstrategicplanningworkshopsfortheSeniorManagementTeam(SMT)onFriday20June2014andfortheBoardon27June2014.Thepurposeoftheseworkshopswasto:

1. reviewthestrategytoensurethatitisrelevant,wellfocusedanddeliversrealvalue tostakeholders,and;2. involve the SMT in the process of strategic planning by obtaining their inputs and viewsforthenextfiveyearplan.

Theworkshopsinvolvedthefollowingprocesses:

1. External environmental scanning 2. Internal environmental scanning3. Stakeholdervalueanalysis–identificationandanalysisofstakeholders,and clarification of their expectations and needs4. NSFASresultsvaluechainandtheidentificationofthemostcriticalresults5. Formulationoftheshort,mediumandlongtermvalueproposition6. Focusonshortterm(3-5years)valuepropositionandidentificationofstrategicpriorities7. Identification of enabling elements to ensure delivery8. Defining measures of success

Thefirstpartoftheprocesswasnecessarilyiterativeinnatureandfocusedoncriticallyexaminingthegoalsandobjectivessothattheyrespondtoopportunitiesandthreats,anddevelopingperformancemetrics,toensurethattheorganisationisfocusingonandmeasuring the relevant activities and deliverables.

Thesecondpartoftheprocessinvolvedareviewofthestrategicobjectivestoensurethattheyarespecific,measurable,achievable,realisticandtimebound–inaccordancewith“SMART”principles,andtoformulatetheoutcomesaccordingtotheBalancedScorecardFramework.

Thiswasfollowedbytargetsetting,takingintoconsiderationtheresources,capabilities,strengthsandweaknessesoftheorganisation.Thefinalworkshopwasconductedtodevelop a five year budget that is aligned to the identified strategic targets and to develop a frameworkformanagingassociatedrisks.TheoutcomesoftheworkshopwereconsolidatedintotheNSFASfiveyearStrategicPlan,whichwaspresentedtotheBoardandtotheMinisterofHigherEducationandTrainingforapproval.


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9. Strategic Objectives

NSFASisorganizedintotwoprogrammesnamelyStudentCenteredFinancialAidandAdministration.

9.1. Programme: Student Centred Financial Aid

The aim of this programme is to improve the provision of financial aid to an increasing numberofeligiblestudentsbydesigningandimplementinganewstudentcentredoperatingmodelandenhancingthefinancialaidenvironmentwithpolicyrecommendationsfornewfinancialaidprogrammes.Thisprogrammeconsistsofthefollowingserviceunits:

Loans and Bursaries Administration – Responsible for comprehensive loans and bursaries operations sBux –ResponsibleforelectronicdisbursementsofallowancesContact Center – Responsible for student relationship management Communications – Responsible for stakeholder and student communications and marketing

9.2. Programme: Administration

Theaimofthisprogrammeistoconducttheoverallmanagement,administrationandgovernance of the entity and to provide efficient and effective support services to sustain thenewstudentcentredoperatingmodel.Thisprogrammeconsistsofthefollowingserviceunits:

Executive Office –Responsibleforstrategy,organisationalperformance,communicationsand stakeholder relationsFinance–Responsibleforallfinancialaccountingandrelatedprocesses,collectionsanddebtor management and risk managementCorporate Services – Responsible for all people and facilities related matters Information and Communications Technology – Responsible for all system related enablers

Each of the Programmes has a set of strategic objectives that drive its performance. These strategicobjectiveshavebeenderivedusingtheBalancedScorecardapproach.TheBalancedScorecardisaperformancemanagementtool,thatallowsformonitoringandevaluationofperformanceusingthefourperspectivesasdescribedbelow:

Stakeholder Perspective –ThisrelatestooutcomesandoutputsNSFAShastoachieveforits stakeholders Financial Perspective –Thisrelatedtomeetingservicedeliveryneedsinaneconomic,efficient and effective manner Internal Process Perspective – ThisrelatestothosecriticaloperationsthatwillenableNSFAStodeliveronitsmandateLearning and Growth Perspective –ThisrelatestothecapacityandskillsNSFASneedstoachieve its objectives


For government departments and public entities the balanced scorecard is customised so that service delivery is the ultimate goal rather than profits therefore the stakeholder perspective is placed on top instead of the financial perspective. The overall aim of the balancedScorecardistoprovideaframeworkinwhichNSFAScanmeasureandmonitorperformanceandcreatesynergybetweenresourceallocation(humanandfinancial),internalprocesses and service delivery.


Programme: Student Centred Financial Aid

STAKEHOLDER PERSPECTIVE

Strategic objective 1 Improvethedisbursementoffundsandallowancestostudents

Objective statement Toprogressivelyimprovetheefficiencyofpaymentsoftuition,residencefees,allowancesandclaimstostudentsandinstitutions

Indicator Baseline (2013/14)

Increase in percentage of students in the student-centred model paid tuition and residence fees on the due date New indicator

Increase in percentage of students in the student-centred modelpaidallowancesontheduedate New indicator

Percentage of claims paid to institutions outside of the student-centred model on the due date New indicator

Upfront payment made to institutions outside of the student-centred model on the due date New indicator

Strategic objective 2 Provide policy inputs on student financial aid

Objective statement To provide policy inputs on student financial aid by conducting research programmes and publishing the outcomes


Numberofresearchreportsproduced Newindicator

Numberofresearchprojectspublished Newindicator

Numberofpolicybriefsproduced Newindicator

Strategic objective 3 Improve key external stakeholder satisfaction

Objective statementTo improve stakeholder satisfaction by improving stakeholder relations and communication for those stakeholders identified in section 6.2 of the Strategic Plan


Increase in percentage of satisfied stakeholders Newindicator


FINANCIAL PERSPECTIVE

Strategic objective 4 Improve loan collections

Objective statement To improve loan collections incrementally each year


Increase in loan collections R338 820.613

Strategic objective 5 Increase funding raised

Objective statementTo increase the pool of funding available for eligible student loans and bursaries incrementally each year through various fund raising mechanisms


Increaseinnumberofnewfunderssecured 14

Increase in funding raised from current fundersR1,051,163billion(excludesspecial additional R1 billion grant)


Programme: Administration

INTERNAL PROCESSES PERSPECTIVE

Strategic objective 6 Roll-outnewstudentcentredmodel

Objective statement Toroll-outthenewstudentcentredmodelbyincreasingthepercentage of students on the model

Indicator Baseline (2013/14)Increaseinpercentageofstudentsmigratedtonewstudent-centredmodel 15% of students

Strategic objective 7 Improve governance

Objective statement Improve governance standards by maintaining an unqualified audit withzeromaterialstatements


AGSA audit opinion Unqualified audit

LEARNING AND GROWTH PERSPECTIVE

Strategic objective 8 Striveforahighperformancecultureandimprovedworkingenvironment

Objective statement Strive for a high performance culture by improving productivity and increasing employee engagement

Indicator Baseline

Increase in percentage of productive employee Newindicator

Increase in percentage of engaged employees Newindicator

Strategic objective 9 Ensureinformationtechnology(IT)andorganisationalstrategicalignment

Objective statementAlign organisational processes and information technology by achieving CGICTAS phase 3 status and maintaining the status thereafter


Status level for CGICTAS achieved Newindicator


Headcount

2015/16 2016/17 2017/18

Permanent Employees 299 314 320

Temporary Employees 25 25 25

Total 324 339 345

10. Resource Considerations

NSFASexpenditureovertheMTEFisexpectedtoincreaseasaresultofadditionalfunders,thegrowthinfundsforloansandbursaries,andagreaternumberofstudentstoservice.Expenditurewillbeconcentratedinthefollowingareas:

10.1. Programme: Student Centered Financial Aid

IntegrationoftheNSFASstudent-centredmodelwithuniversityandcollegeadmissionssystems.

10.2. Programme: Administration

Recruitmentandemploymentofskilledhumanresourcesincertaincore,criticalandscarceskillsroles,includingcollections,funderrelationshipmanagement,communicationsandstakeholderrelations,dataanalyticsandmodelling.

Theprojectedheadcountoverthenextthreeyearsisreflectedinthetablebelow.


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vide

din

det

ailin

the

corre

spon

ding

Ann

ual P

erfo

rman

ce P

lans

.

Link

to o

bjec

tive

NoRi

sk

Risk

Des

crip

tion

Risk

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gatio

n

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ove

disb

urse

men

t of

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d al

low

ance

s to

st

uden

ts1

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ility

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isbur

se fu

nds

to

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ents

and

inst

itutio

ns o

n tim

e

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risk

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dent

sw

illno

trec

eive

fu

ndin

gfo

rtui

tion

and

allo

wan

ces

timeo

usly

due

tola

cko

fcap

acity

with

in

NSFA

Sto

del

iver

on

the

man

date

.

Mon

itorin

gan

dev

alal

uatio

npr

oces

sw

illbe

put

in

plac

e to

ens

ure

paym

ents

are

mad

e tim

eous

ly.

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ide

polic

y in

puts

on

stud

ent f

inan

cial a

id

2In

abilit

y to

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vide

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ateg

ic in

sight

s on

fina

ncia

l aid

issu

es

The

risk

that

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illno

tbe

able

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colle

ct a

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naly

se d

ata

on s

tude

nt

finan

cial a

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ord

er to

pro

vide

pol

icy

prop

osal

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sta

keho

lder

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wre

sear

chu

nitw

ithd

efin

edo

utpu

tsw

illbe

put

in

pla

cein

201

5/16

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ove

key

exte

rnal

st

akeh

olde

r sat

isfa

ctio

n3

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tatio

nal d

amag

e

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tatio

nal d

amag

e ca

n oc

cur a

s th

e re

sult

of a

ctio

ns b

y th

e or

gani

satio

n its

elf

orb

yth

eac

tions

ofo

ther

par

ties,

suc

has

su

pplie

rs.

NSFA

Sin

the

proc

ess

ofd

evel

opin

ga

com

mun

icatio

ns s

trat

egy

for a

ll its

sta

keho

lder

s

Impr

ove

loan

colle

ctio

ns4

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ility

to re

cove

r fro

m d

ebto

rs

The

risk

that

NSF

ASw

illfa

ilto

reco

ver

stud

ent l

oans

resu

lting

in co

mpl

ete

or

part

iallo

stp

rincip

ald

ebta

ndin

tere

st,

disr

uptio

nto

cash

flow

s,a

ndin

crea

sed

colle

ctio

n co

sts.

NSFA

Sis

the

proc

ess

ofd

evel

opin

ga

new

co

llect

ions

str

ateg

yfo

rim

plem

enta

tion

2015

/16


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to o

bjec

tive

NoRi

sk

Risk

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crip

tion

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gatio

n

Incr

ease

fund

ing

rais

ed5

Redu

ctio

n in

fund

sDo

nors

redu

cing

fund

ing

as a

resu

lt of

ch

ange

sin

thei

row

nen

viro

nmen

ts.

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wfu

ndra

ising

str

ateg

yis

bein

gde

velo

ped

for

impl

emen

tatio

nin

201

5/16

.Fur

ther

mor

e,N

SFAS

will

be ca

pacit

atin

g th

e St

akeh

olde

r man

agem

ent s

ervi

ce

unit

with

peo

ple,

syst

ems

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esse

sto

mee

tthe

ne

eds

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egr

owin

gdo

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ortfo

lio.

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ew s

tude

nt- c

entr

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el

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tude

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odel

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llin

stitu

tions

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inth

esp

ecifi

edti

me

fram

es.

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ning

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up-

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ngw

illbe

pro

vide

dfo

rcur

rent

em

ploy

ees.

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ove

gove

rnan

ce7

Insu

fficie

nt in

tern

al co

ntro

lsFa

ilure

toin

tegr

ate,

doc

umen

tand

co

mm

unica

te in

tern

al co

ntro

ls in

all

oper

atio

ns.

Vario

usin

itiat

ives

will

bep

utin

pla

cea

spa

rto

fthe

in

tern

al a

udit

plan

to im

prov

e th

e co

ntro

l env

ironm

ent

with

inN

SFAS

.Thi

sin

clude

sth

ere

view

oft

heF

raud

Po

licy.

Striv

e fo

r a h

igh

perf

orm

ance

cu

lture

and

impr

oved

wor

king

en

viro

nmen

t8

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ility

to m

anag

e pe

rform

ance

Empl

oyee

s no

t hel

d ac

coun

tabl

e fo

r pe

rform

ance

out

com

es.

NSFA

Sis

inth

epr

oces

sof

impl

emen

ting

anim

prov

ed

perfo

rman

ce m

anag

emen

t sys

tem

and

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ploy

ee

Wel

lnes

sPr

ogra

mm

e.E

mpl

oyee

ben

efit

prog

ram

mes

ar

eal

sou

nder

goin

ga

revi

ew.


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to o

bjec

tive

NoRi

sk

Risk

Des

crip

tion

Risk

Miti

gatio

n

Ensu

re IT

and

org

anis

atio

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stra

tegi

c alig

nmen

t10

IT n

ot m

eetin

g or

gani

satio

nal

requ

irem

ents

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reto

del

iver

on

man

date

,and

im

plem

ent p

olici

es a

nd re

port

ing

due

ton

on-a

lignm

entb

etw

een

ITa

nd

orga

nisa

tiona

l str

ateg

ies.

IT G

over

nanc

e tr

aini

ng to

be

cond

ucte

d fo

r all r

elev

ant

stak

ehol

ders

13. L

inks

to th

e lo

ng-t

erm

Iinf

rast

ruct

ure

and

othe

r cap

ital p

lans

Nolo

ngte

rmin

frast

ruct

ure

and

othe

rcap

italp

lans

are

env

isage

din

the

MTE

Fpe

riod.


An

nexu

re A

: Fra

mew

ork

of A

ccep

tabl

e Le

vels

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eria

lity

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ifica

nce

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hep

urpo

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fthe

inte

rpre

tatio

nof

and

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plia

nce

with

the

Publ

icFi

nanc

eM

anag

emen

tAct

,No.

1o

f199

9

Intr

oduc

tion

Inte

rms

ofR

egul

atio

n28

.3.1

oft

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easu

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atio

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sued

inte

rms

ofth

ePu

blic

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agem

entF

inan

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FMA)

,Act

no.

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199

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rthe

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rpos

eof

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eria

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ctio

n55

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pr

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ccou

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(2)

Befo

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,the

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rmth

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ansa

ctio

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ap

prov

al o

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the

tran

sact

ion:

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tabl

ishm

ento

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mpa

ny;

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pany

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quisi

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alo

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)are

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prov

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as

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tran

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toe

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sto

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red

ord

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edo

fexc

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10%

of th

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tal c

ost o

f ass

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activ

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atw

ould

impa

cto

nth

eNS

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s

ab

ility

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reth

ech

ange

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ccou

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utho

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port

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annu

alre

port

and

fina

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lsta

tem

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refe

rred

toin

subs

ectio

n(1

)(d)

mus

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irso

fthe

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lice

ntity

,its

busin

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esul

ts,it

spe

rform

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aga

inst

pre-

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rmin

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tives

and

its

finan

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ositi

on a

s at

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ancia

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rcon

cern

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–

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lbe

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ided

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ectt

o:

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hcr

imin

alco

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sses

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itles

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perS

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(1)(

a-b)

oft

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lbe

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ectt

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eas

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inS

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abo

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(I;ii

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ofth

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(R5

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,344

,000

.00)

:2

% of

the

Tota

l Rev

enue

in th

e An

nual

Fin

ancia

l Sta

tem

ents

The

mat

eria

lity

leve

ls a

bove

are

sub

ject

to a

min

imum

of

R205

,481

,740

.00

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itativ

e

Over

and

abo

veth

efin

ancia

lcon

sider

atio

nso

fmat

eria

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any

loss

es

due

tocr

imin

alco

nduc

tare

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ider

edto

be

mat

eria

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natu

re,

irres

pect

ive

of th

e qu

antu

m th

ereo

f.It

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eref

ore

impo

rtan

tto

note

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the

quan

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ive

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sure

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ater

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lare

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endi

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,whe

reas

the

qual

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em

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ply

to

loss

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ue to

crim

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R74,

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890.

00

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r

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the

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al R

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t as

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ired

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Se

ctio

n 54

.

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line

with

goo

dbu

sines

spr

actic

e,

asw

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sth

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quire

men

tso

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mm

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e

pr

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ectio

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and

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ng

appr

opria

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lare

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itles

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ng fr

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plyi

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e

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atio

nalp

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fNSF

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this

end

NSFA

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stem

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dpr

oces

ses

are

desig

ned

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inua

llyre

view

edto

en

sure

the

prev

entio

n an

d de

tect

ion

of

alls

uch

expe

nditu

re,ir

resp

ectiv

eof

the

size

ther

eof.


Ope

ratio

nal C

onsi

dera

tions

Prop

osed

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mew

ork

Res

ultin

g fig

ures

for

2013

/ 14

Und

erly

ing

prin

cipl

es

Sign

ifica

ntfo

rSec

tion

54(1

)(2)]

Info

rmat

ion

and

appr

oval

by

the

Min

ister

of

“qua

lifyi

ngtr

ansa

ctio

ns”i

.e.:

•Pa

rtici

patio

nin

as

igni

fican

t

pa

rtne

rshi

p,tr

ust,

unin

corp

orat

ed

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entu

reo

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gem

ent;

•

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isitio

nor

disp

osal

ofa

sig

nific

ant

as

set;

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mm

ence

men

torc

essa

tion

ofa

signi

fican

tbus

ines

sac

tivity

;and

•

A sig

nific

ant c

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e in

the

natu

re

or

ext

ent o

f its

inte

rest

in a

sign

ifica

nt

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rtne

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ust,

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jo

int v

entu

re o

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ent.

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titat

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ifyin

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ctio

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fan

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atur

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cial

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emen

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itativ

e

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alify

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sact

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als

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ider

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igni

fican

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ed o

n co

nsid

erat

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oth

erth

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nanc

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inio

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the

Boar

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ider

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signi

fican

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the

appl

icatio

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sec

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54. T

he

decis

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cons

ider

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tim

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quire

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men

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icle

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nds

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ore

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acco

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thor

ity.A

san

exa

mpl

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ard

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ider

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ualif

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sact

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igni

fican

twhe

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nific

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on

a de

cisio

n or

act

ion

by th

e M

inist

er.

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ject

ives

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r the

pub

lic e

ntiti

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ek a

ppro

val o

n m

atte

rs o

f a d

aily

op

erat

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ure;

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The

busin

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ofN

SFAS

isco

nduc

ted

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in

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as

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oth

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ief

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line

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ithm

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early

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ined

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roug

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ure

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conc

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ithin

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aine

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corp

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an.

2Qu

alify

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ateg

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eor

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nit

links

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atio

nalP

riorit

ies.


Notes


Notes


Notes


Notes

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