NSFAF Proposal
NSFAF Proposal
WINDHOEK
OF
BY:
SHINDINGENI SAKARIA K
201703333
1 JUNE 2020
SUPERVISOR: MS T. CHATA
Co SUPERVISOR: MS C. Mhaka
1. INTRODUCTION
the improvement of Namibia’s human capital. The entity’s core function is to provide
and more specifically, to facilitate the training of students in prescribe courses of field
independence, the demand for new recruits in the Civil Service was significantly
The Namibia Student Financial Assistance Fund is established to replace the Public
Service bursary scheme whose purpose was to train people to work solely in the Civil
Service [CITATION MIN05 \l 1033 ]. Hence the Public Service bursary scheme lost its
relevance. In the meanwhile, the demand for financial assistance by students was ever
on the increase. Cabinet therefore decided to replace the bursary scheme with the
NSFAF, which would allow the Government to continue addressing the human
resources need of the country in general beyond the needs and requirements of the
Public Service [ CITATION MIN05 \l 1033 ]. This NSFAF was approved in 1996 and
being implemented with effect from January 1997. Ultimately the Namibia Student
Financial Assistance Fund (NSFAF) Act 2000 (Act No.26 of 2000) came into being
and operational.
1.2 Problem statement
The Ministry of Education, Art and culture received the largest allocation, which at
N$ 13 767697 account for 21 percent of the government’s budget for the current
apportioned to various institutions within the borders of the country. NSFAF is one of
the institution that registered the under the ministry of Education, Art and culture.
The core purpose of NSFAF is to fund students from different institutions and this
will prevent the universities from experiencing cash flow problems, but the Namibia
Therefore, the main purpose of this research proposal is to evaluate the corporate
performance at NSFAF
Fund. The findings will also outline the correct procedure to be followed by internal
auditors when they are reporting. Lastly, the findings will help NSFAF to come up
1.5 Definitions
corporate - is a business organized with legal rights and governed by a body separate
and controlled.
principles – refers to moral rule or a strong belief that influences your actions
The research proposal is limited to 5 months, I will not have enough time to
findings.
Time constraints- there will be no enough time to visit all NSFAF offices in
The offices of NSFAF are dispersed all over the country, so an individual can carry
out his/her research proposal in those regional offices. For this research proposal, I
have chosen the office of Namibia Students Financial Assistance Fund that based in
Windhoek to conduct my research proposal on, because the transport cost will be
bearable and this will make me to manage my time efficiently and effectively in terms
of collecting information concerning with the corporate governance principles and its
performance in NSFAF.
Section one-this section gives an overview of the background of the research proposal
whereby the research problem is discussed. It also looks at the research objectives and
the significant of the proposal. Lastly, the limitations and delimitations of research
proposal are given. Section two- deal with literature review and it’s is divided into
performance.
2. Literature Review
2.1 Introduction
This section provides a summary of what was found in the literature review in
governance, the evolutional of kings reports and the elements of good corporate
governance.
2.2 Definition of corporate governance
ensure that the company’s management acts in accordance with the interest of
system of regulating and overseeing corporate conduct and of balancing the interest
of all internal stakeholders and other parties (external stakeholders, governments and
leadership. This means, there should be ethical values in place, this includes
Three reports were published in 1994 (King I), 2002 (King II), and 2009 (King III)
respectively. In 1994 the first King reports on corporate governance (King report 1
1994) was published, the first corporate governance code for South Africa. It
companies, banks, and certain state-owned enterprises. In 2002, when the Earth
Summit was held in Johannesburg, Professor Mervin King pushed for a revision of
the report (King II report 2002), including new sections on sustainability, the role of
the corporate board, and risk management. This revised code of governance was
applicable from March 2002. In the next version, the 2009 King III report,
governance, strategy and sustainability were integrated. the King III report is
applicable to all entities, public, private and non-profit. Prof Mervin King encourages
all entities to adopt the King III principles and explain how these have been applied
or are not applicable. The code of governance was applicable from March 2010.
The principal-agency theory stems from the principal-agency problem arising from
the fact that the aim of corporate governance is to align, as much as possible, the
management is a counter strategy to the agency theory. According to Oslon, 2008, the
stewardship theory of management and the agency theory have both focused on the
different governance systems are in promoting long term investment and commitment
effects on corporate performance of NSFAF. The section also covered the definitions
governance.
3. Methodology
3.1 Introduction
principles and its effects on the performance in NSFAF. The previous section was
based on the literature review, so the main focus of this section is therefore, the
methodology used in the section which encompasses the research design, population,
sample and sampling, a detailed description of the data collection instrument, data
This section will discuss the research design for this study. Research may be
classified in two types which could be quantitative or qualitative. The research design
nature of the research proposal problem. The research proposal will employ a
numerical description.
3.3 Population
The target population of this research proposal will be the employees at NSFAF that
Sampling involves the selection of a small group of people from the larger population
to be studied. In research, there are two types of sampling namely, probability and
sampling which is a non-probability and the participants will be chosen base on their
availability and accessibility. The whole population will be selected for this research
The structured questionnaire method will be used to collect relevant data. The
NSFAF and will be amended, if necessary based on the feedback from the pilot
survey.
accepted not considering the party. All primary, secondary and tertiary will be
considered.
After collecting data, it will be checked for completeness. Data collected will be
analyzed using descriptive statistics with descriptive statistical tables, graphs and
of the data presented, the interpretations made and the meanings or conclusions
derived there from. The data will be presented in tables, pie charts and lastly, the
results will be interpreted based on computed statistics such as mean, mode, and
During the duration of conducting this study, all participant will be informed about
the objectives and the benefits of the study before administering the questionnaire and
interview schedule. Their identity will be kept confidential, and will be protected at
all cost. Furthermore, no participant right will be violated, for instance if they opt not
The purpose of Chapter 3 was to provide the methodology used to undertake the
study. The research design used has been discussed and explained. The research
instruments and procedures used in data collection as well as research designs have
been outlined in this section. The research proposal will adopt the quantitative
References
Ministry of Education. (2005, November 08). NAMIBIA STUDENTS FINANCIAL ASSISTANCE FUND (NSFAF)
POLICY. p. 1.
New Era. (2019, April 29). N$ 13 billion education budget not enough.
Oliveira, O. N. (2020, 02 12). The Namibian . 1200 stidents scramble for NSFAF pie, p. 2.
Oslon. (2008). Integrating the individual and the organization. New York: NY: Wiley.
Solomon.J. (2007). Corporate governance and accountability. West Sussex, England: John Wiley.