In Conversation With Zweli Mangele SASCO Greater Johannesburg RTT Additional Member
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In a revelation that has raised fresh concerns about financial oversight at the National Student Financial Aid Scheme (NSFAS), it has emerged that former administrator Freeman Nomvalo was paid a staggering R5.5 million for his services between April 2024 and February 2025. In contrast, the fired NSFAS CEO received R3.2 million over the same period.
The figures, first reported by News24, have amplified scrutiny on the troubled institution, which has faced sustained criticism over governance failures, payment delays to students, and a revolving door of leadership.
Nomvalo, who was appointed to stabilize NSFAS amid widespread operational dysfunction, concluded his term earlier this year. The R5.5 million payment reportedly reflects compensation due under his administrator contract, though a full breakdown of the amount — including whether it includes performance bonuses, consulting fees, or other benefits — has not yet been made public.
Meanwhile, the former CEO — whose tenure ended in dismissal — walked away with R3.2 million despite his removal under a cloud of poor performance and alleged misconduct. The reasons for the dismissal were not detailed in the payment summary, and it is unclear whether any severance arrangements were negotiated.
Adding to the tension, News24 also reported that the NSFAS board is seeking legal advice to compel Nomvalo to submit a complete handover report, which was due at the time of his exit but remains outstanding. The board has not disclosed the reasons behind the delay but emphasized the importance of the report in ensuring continuity and accountability at the embattled financial aid body.
The figures, first reported by News24, have amplified scrutiny on the troubled institution, which has faced sustained criticism over governance failures, payment delays to students, and a revolving door of leadership.
Nomvalo, who was appointed to stabilize NSFAS amid widespread operational dysfunction, concluded his term earlier this year. The R5.5 million payment reportedly reflects compensation due under his administrator contract, though a full breakdown of the amount — including whether it includes performance bonuses, consulting fees, or other benefits — has not yet been made public.
Meanwhile, the former CEO — whose tenure ended in dismissal — walked away with R3.2 million despite his removal under a cloud of poor performance and alleged misconduct. The reasons for the dismissal were not detailed in the payment summary, and it is unclear whether any severance arrangements were negotiated.
Adding to the tension, News24 also reported that the NSFAS board is seeking legal advice to compel Nomvalo to submit a complete handover report, which was due at the time of his exit but remains outstanding. The board has not disclosed the reasons behind the delay but emphasized the importance of the report in ensuring continuity and accountability at the embattled financial aid body.