NSFAS Students Have Been Paid By Tenet Technology

NSFAS Students Have Been Paid By Tenet Technology. Tenet Technology (Tenetech) has successfully initiated direct stipend payments to NSFAS (National Student Financial Aid Scheme) beneficiaries, marking a significant milestone in student financial assistance.

This move comes as a relief to many students, as the company commenced disbursing payments on March 5th, 2024, ensuring that all beneficiaries received their stipends for the month without any delays.

Responding to Concerns

Ryan Passmore, the CEO of Tenetech, addressed concerns regarding the payment process, stating, “To date, we have paid 100% of students instructed by a payment file sent by NSFAS.” Passmore’s response followed inquiries from students who had reported delays in receiving funds from Tenetech.

Tenetech’s engagement with NSFAS beneficiaries dates back to July 2023, amidst legal proceedings concerning copyright infringement allegations. Passmore reassured stakeholders that the matter has been resolved amicably, allowing the company to focus on its core mission of supporting students.

Navigating Challenges

Acknowledging the challenges faced during the transition to direct payment systems, Passmore highlighted the influx of emails from students encountering difficulties with the onboarding process.

He emphasized that Tenetech strives to assist all NSFAS beneficiaries, contingent upon their onboarding with the company. Passmore underscored the significance of security measures, including Know Your Customer (KYC) updates, aimed at safeguarding bank accounts.

In response to queries regarding alleged non-payment issues, Tenetech initiated an investigation, demonstrating transparency and accountability in its operations. Passmore affirmed the company’s commitment to integrity, stating, “We are a company that has nothing to hide.”

Contextual Background

The transition to direct payment systems stemmed from NSFAS’s efforts to streamline financial disbursements and minimize bureaucratic hurdles. However, this initiative was not without challenges, as highlighted by controversies surrounding fintech firms, including Coinvest, Narroco, Tenetech, and eZaga, amid allegations of fraudulent links with former NSFAS CEO Andile Nongogo.

Despite ongoing investigations and contractual uncertainties, both eZaga and Tenetech continue to receive payment files from NSFAS, ensuring uninterrupted service delivery to student beneficiaries.

Looking Ahead

NSFAS’s decision to collaborate with universities for payment facilitation underscores the necessity of exploring alternative methods to ensure timely disbursement of student allowances. As the scheme navigates transitional phases, stakeholders anticipate continued engagement with fintech partners, albeit subject to legal proceedings.

Accessible Support Channels

For NSFAS beneficiaries seeking assistance or clarification, Tenetech provides accessible support channels, including a toll-free call center line (080 087 3287), email support ([email protected]), and an in-app support desk.

Conclusion

Tenet Technology’s proactive approach in facilitating direct stipend payments reflects a commitment to student welfare and operational excellence. As the higher education landscape evolves, collaborative efforts between stakeholders remain pivotal in ensuring equitable access to financial aid for aspiring scholars.