Straight talk
The Namibia Students Financial Assistance Fund says it will no longer be compliant in its own demise
Iréne-Mari van der Walt
Kennedy Kandume, NSFAF acting CEO: “They are selfish to benefit but do not want to see their brothers and sisters gain the same benefit they had. This is debt like any other debt.”
After years of non-payment from its debtors, the Namibia Students Financial Assistance Fund (NSFAF) says it has had enough. Despite recoveries made from 2 382 debtors, NSFAF acting CEO Kennedy Kandume saud 88 000 economically active debtors still owe the fund roughly N$4.2 billion.
“By my calculations, 10% of that amount should be enough to fund our entire new intake for 2022,” he said.
He added that despite efforts by various indebted Namibians to contact the fund in relation to the payment of their dues, many are seemingly reacting to NSFAF’s campaigning to recover funds for all the wrong reasons.
“Some Namibians have reached out to make arrangements, but we are realising that many have contacted the fund only to avoid having their names published, as we have said we will do, but do not have intention to pay their debt,” he said.
Kandume warned that even such dogs will have their day.
“For such individuals, NSFAF will use litigation as an option. We have handed it over to our legal department.”
NSFAF was established as a revolving fund, but non-payment by beneficiaries has turned a sustainable model to aid economic development into a seemingly bottomless money pit.
“Such Namibians do not want to see other Namibians succeed. They are selfish to benefit but do not want to see their brothers and sisters gain the same benefit they had. This is debt like any other debt,” Kandume said.
He further cautioned student unions to lower their weapons. “It is not a student union’s place to represent productive citizens,” he said in response to backlash.
NSFAF will go ahead with the publication of details pertaining to beneficiaries they have been unable to reach.
More than fair
Kandume believes NSFAF has been incredibly reasonable in its requirement for investment returns.
“You do not have to pay if you are unemployed. Once you become employed, you are required to pay back the investment. Where else will you find such a loan?” he asked.
The installments in which beneficiaries are allowed to return the investment are also incredibly reasonable, according to Kandume.
“The average installment is N$1 000 and some people pay even less than that,” he said.
Hopes for better future
Despite NSFAF’s recent decision not to fund students pursuing aviation for the next three years, Kandume hopes to award bursaries earlier this year than in previous years.
The decision to restrict their investment into aviation stems from a previous misunderstanding of the financial requirements of this course and the saturation of the industry.
“We had a look into that industry and found that we had to adjust the funding for trainee pilots. Most of them had spent all of it on their training by February or March of that year. This rendered their training ineffective and meant we had to adjust the funding model for aviation,” he said.
This adjustment will benefit the 82 current students of aviation on NSFAF support.
Kandume believes that the awarding of funding in August of last year is unacceptable, but notes that the awarding is often delayed by the hunt for proper, accredited paperwork from applicants. Therefore, NSFAF has undertaken to reject applicants who fail to submit the correct forms.
The acting CEO of the Namibia Students Financial Assistance Fund, Kennedy Kandume, implores employed beneficiaries to pay back the money.
Photo Iréne-Mari van der Walt
Kennedy Kandume, NSFAF acting CEO: “They are selfish to benefit but do not want to see their brothers and sisters gain the same benefit they had. This is debt like any other debt.”
After years of non-payment from its debtors, the Namibia Students Financial Assistance Fund (NSFAF) says it has had enough. Despite recoveries made from 2 382 debtors, NSFAF acting CEO Kennedy Kandume saud 88 000 economically active debtors still owe the fund roughly N$4.2 billion.
“By my calculations, 10% of that amount should be enough to fund our entire new intake for 2022,” he said.
He added that despite efforts by various indebted Namibians to contact the fund in relation to the payment of their dues, many are seemingly reacting to NSFAF’s campaigning to recover funds for all the wrong reasons.
“Some Namibians have reached out to make arrangements, but we are realising that many have contacted the fund only to avoid having their names published, as we have said we will do, but do not have intention to pay their debt,” he said.
Kandume warned that even such dogs will have their day.
“For such individuals, NSFAF will use litigation as an option. We have handed it over to our legal department.”
NSFAF was established as a revolving fund, but non-payment by beneficiaries has turned a sustainable model to aid economic development into a seemingly bottomless money pit.
“Such Namibians do not want to see other Namibians succeed. They are selfish to benefit but do not want to see their brothers and sisters gain the same benefit they had. This is debt like any other debt,” Kandume said.
He further cautioned student unions to lower their weapons. “It is not a student union’s place to represent productive citizens,” he said in response to backlash.
NSFAF will go ahead with the publication of details pertaining to beneficiaries they have been unable to reach.
More than fair
Kandume believes NSFAF has been incredibly reasonable in its requirement for investment returns.
“You do not have to pay if you are unemployed. Once you become employed, you are required to pay back the investment. Where else will you find such a loan?” he asked.
The installments in which beneficiaries are allowed to return the investment are also incredibly reasonable, according to Kandume.
“The average installment is N$1 000 and some people pay even less than that,” he said.
Hopes for better future
Despite NSFAF’s recent decision not to fund students pursuing aviation for the next three years, Kandume hopes to award bursaries earlier this year than in previous years.
The decision to restrict their investment into aviation stems from a previous misunderstanding of the financial requirements of this course and the saturation of the industry.
“We had a look into that industry and found that we had to adjust the funding for trainee pilots. Most of them had spent all of it on their training by February or March of that year. This rendered their training ineffective and meant we had to adjust the funding model for aviation,” he said.
This adjustment will benefit the 82 current students of aviation on NSFAF support.
Kandume believes that the awarding of funding in August of last year is unacceptable, but notes that the awarding is often delayed by the hunt for proper, accredited paperwork from applicants. Therefore, NSFAF has undertaken to reject applicants who fail to submit the correct forms.
The acting CEO of the Namibia Students Financial Assistance Fund, Kennedy Kandume, implores employed beneficiaries to pay back the money.
Photo Iréne-Mari van der Walt
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