NSFAS bank accounts anger is “massive propaganda” – eZaga
The launch of the National Student Financial Aid Scheme bank accounts, which seek to remove third parties and have the scheme pay student beneficiaries their stipends directly through fintech enablers, has been met with fierce resistance., and even threats of violence from university SRCs, the project to revamp the way nearly a million underprivileged students receive funding has been incendiary online, in the media and on campus.
“And then you get on SABC News and you get this article saying ‘I did not receive funds.’ Please explain why? What’s the problem?”Ally believes that the resistance to the entire project stems from the cutting out of the “middle men” that were previously facilitating the stipend payments for NSFAS. That a smear campaign has been raised against NSFAS and its banking partners, including Tenet Technologies, Narocco, Coinvest, and eZaga.
“eZaga has been sending communications to these students on a constant basis. How to utilise the account. We tried to do as much market awareness, and as fast as possible as we could.” “There have been several complaints about the app’s functionality and suspicious withdrawals from students’ accounts. Some students have even taken their frustrations to social media,” the Sowetan wrote.
He said that the scheme took on eZaga because it could provide “elements of technology and stacks relating to the students and offering value-added products. And ring-fencing the bank accounts, specifically for student enablement. For example, if there is a card swipe transaction at a liquor store, we have the capacity or capability to decline that transaction.”
“Because of these hiccups, and because of the late registrations of students and universities, we could not pay the full file in June. Students were saying ‘Oh, we aren’t getting paid.’ It wasn’t that. It was a system issue related to the process.”
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