NSFAF in deeper trouble

AN INDEPENDENT auditing firm, PricewaterhouseCoopers, says the Namibia Students Financial Assistance Fund failed to provide documents to verify the loans and scholarships they issued.

This comes after NSFAF disputed The Namibian’s story based on the 2009 and 2010 auditor general’s report presented by finance minister Calle Schlettwein in the National Assembly about two weeks ago, which said the fund cannot account for more than N$2,7 billion. The fund claims that legally, the money unaccounted for is the baby of the education ministry since this was before 2013 when the fund became an independent body that provides loans to needy full−time Namibian students enrolled at recognised higher learning institutions.