Carrim, currently serving as NSFAS’s Chief Financial Officer (CFO), is a Chartered Accountant with two master's degrees. He previously held the roles of CFO and CEO at the National Youth Development Agency (NYDA), where he spearheaded a period of financial stability and organisational growth.
Proven Track Record in Financial Management
During his tenure at the NYDA, Carrim secured nine consecutive clean audit outcomes and oversaw a budget increase from R400 million to R1.5 billion. He also holds board memberships at the Small Enterprise Finance Development Agency and UNISA Enterprise.
As Acting CEO, Carrim will manage NSFAS’s daily operations while collaborating with the Board to shape its long-term strategic direction.
Board Confidence in Carrim’s Leadership
New NSFAS board chairperson Karen Stander expressed confidence in Carrim’s ability to navigate the transitional phase.
The board is confident that Mr. Carrim will provide the stability and leadership needed to initiate the transition of NSFAS towards becoming an international best practice benchmark in student funding,
She added that his expertise in State-Owned Enterprises (SOEs), coupled with a strong focus on innovation and growth, makes him well-suited for the role.
The Challenges Leading to This Transition
NSFAS has undergone significant changes over the past year, facing scrutiny after the dissolution of its previous board and subsequent placement under administration.
Former Higher Education Minister Blade Nzimande dismissed the NSFAS board due to financial mismanagement, administrative inefficiencies, and allegations of corruption. These challenges resulted in delayed student allowances, widespread frustration, and the alleged involvement of the former CEO in a corruption scandal.
A key issue was the board’s failure to implement recommendations from the Werksmans Report, which exposed irregularities in service provider contracts that disrupted student allowances for food and accommodation.
In April 2024, Nzimande appointed Freeman Nomvalo as NSFAS administrator to address these systemic failures. His tenure ended in February 2025 with the appointment of the new NSFAS board, marking the end of the administration period.
