SLTF - Final Consolidated Strategy 20160303

MediumTermStrategy
2016to2020
Ishmael Yamson
Associates
“inspiring and
unleashing greater
prospects”

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S t u d e n t s L o a n T r u s t F u n d
1 Contents
1 EXECUTIVE SUMMARY ...................................................................................................................iii
1.1 Student Assistance for Ter ary Educa on.............................................................................iii
1.2 Ter ary Educa on ..................................................................................................................iii
1.3 The SLTF - Emerging Trends and Aspira ons .........................................................................iii
1.4 The Strategic Framework....................................................................................................... iv
1.5 The Strategic Impera ves ...................................................................................................... iv
1.6 The Culture.............................................................................................................................iv
1.7 The Strategic Outcomes..........................................................................................................v
1.8 Transla ng the Strategy into Ac on .......................................................................................5
1.9 Monitoring and Evalua on .....................................................................................................5
2 CHAPTER ONE – Developing the Student Loan Trust Fund Strategy ..............................................1
2.1 Introduc on ............................................................................................................................1
2.2 The Need for a Students Loan Trust Fund ..............................................................................1
2.3 The Students Loan Trust Fund – the Mandate .......................................................................1
2.4 The SLTF Strategy in the Context of Global and Na onal Development Plans .......................2
2.5 Developing the Students Loan Trust Fund Strategy ...............................................................2
2.5.1 The Brief..........................................................................................................................2
2.5.2 The Purpose and Structure of the Strategy Document...................................................2
2.6 The Process and the Par cipants............................................................................................3
2.7 The Key Milestones.................................................................................................................4
3 CHAPTER TWO – Ghana’s Ter ary Educa on .................................................................................5
3.1 The Demand for Ter ary Educa on........................................................................................5
3.2 The Structure of Ter ary Educa on .......................................................................................5
3.3 Funding Ter ary Educa on.....................................................................................................6
3.4 The Environmental Context of Ghana’s Ter ary Educa on ...................................................7
3.4.1 The Economy...................................................................................................................7
3.4.2 The Social Environment ..................................................................................................8
3.5 Some Emerging Issues and Opportuni es ..............................................................................8
3.5.1 Growing Number of Enrolment in Ter ary Educa on ....................................................8
3.5.2 Increasing Sophis ca on and Demands from Ter ary Students....................................9
3.5.3 Increasing and Diversiﬁed Needs and Expecta ons. ......................................................9
3.5.4 Tougher Compe on in the Student Loan Industry .......................................................9
3.5.5 Increasing demand on Resources and Capacity of Organisa ons for Relevance ...........9
3.5.6 Major Technology Changes.............................................................................................9
3.5.7 Increasing Risks of Non-recoveries of Loans...................................................................9

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3.5.8 The Increasing Cost of Ter ary Educa on ......................................................................9
3.6 General Conclusions on Environment in which SLTF operates.............................................10
4 CHAPTER THREE – The Opera ons of the Student Loan Trust Fund ............................................11
4.1 The Student Loan Trust Fund................................................................................................11
4.2 The Governance Arrangements............................................................................................11
4.3 Opera ons and Ac vi es of the SLTF ...................................................................................11
4.3.1 Loan Applica on and Disbursement .............................................................................12
4.3.2 The Students Loan Management So ware ..................................................................12
4.3.3 Cost Eﬃciency and Opera onal Eﬀec veness ..............................................................12
4.4 Situa onal Analysis (The challenges of the SLTF) .................................................................13
4.4.1 Capitalisa on ................................................................................................................13
4.4.2 Collateral .......................................................................................................................13
4.4.3 Interest Subsidy.............................................................................................................13
4.4.4 Non-repayment.............................................................................................................14
4.4.5 Recovery........................................................................................................................14
4.4.6 A tude of Borrowers from the SLTF............................................................................15
4.4.7 Percep on of the SLTF ..................................................................................................15
4.4.8 The Zones......................................................................................................................15
4.5 Some Aspira ons of the SLTF................................................................................................15
4.6 Some Conclusions on SLTF Internal Scru ny ........................................................................16
5 CHAPTER FOUR – The SLTF Strategic Framework.........................................................................17
5.1 Mission..................................................................................................................................17
5.2 Vision.....................................................................................................................................17
5.3 The Strategic Impera ves .....................................................................................................17
5.4 The Enablers..........................................................................................................................18
5.5 The Strategic Outcomes........................................................................................................18
6 CHAPTER FIVE – Transla ng the Strategy into Ac on ..................................................................19
6.1 Transla ng the Strategy into Ac on .....................................................................................19
6.2 The Corporate Strategic Goals ..............................................................................................19
6.3 The Key Ac ons.....................................................................................................................20
6.4 Monitoring Evalua on.......................................................................................................21

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1 EXECUTIVE SUMMARY
1.1 Student Assistance for Tertiary Education
Countries understand that higher education is a catalyst for economic development and growth. In view
of this, Governments develop policies and frameworks within which they either directly provide assistance
(including financial assistance) towards the education of their people or provide incentives for the private
sector to play that role.
In Ghana, many households are poor and in spite of the aspiration of parents and students to obtain
tertiary education many are financially handicapped. The need for an intervention, no matter how small
is a crucial one and cannot be underestimated.
Successive Ghanaian governments have pursued various social interventions designed to support tertiary
students financially through their education. The Student Loan Trust Fund (SLTF) is the current non-
discriminatory intervention with a mandate to support eligible tertiary students. Its objectives are to:
(i) “provide financial resources for the sound management of the Trust for the benefit of students”
(ii) “help promote and facilitate the national ideals enshrined in Articles 28 and 38 of the 1992
Constitution”
(iii) “administer and manage loans in a manner that ensures that eligible students in accredited institutions
have equal access to tertiary education”.
The SLTF has been in operation since the 2006 and is the only fit-to-purpose loans provider for students.
However, it is still relatively unknown to many eligible students, especially at the time when they decide
on which tertiary institutions to apply for admission into. The SLTF must improve the awareness of
potential beneficiaries before and during the application process as the best and most easily accessible
financial assistance option for tertiary education. Its presence and operations in all the ten (10) regions
needs to be more effective and efficient to increase the proportion of tertiary students covered by SLTF.
1.2 Tertiary Education
There are over 400,000 students in 140 tertiary institutions in Ghana. Out of those SLTF operations and
presence cover 117 institutions with enrolment of about 300,000 students. Less than 10% of these
students access SLTF’s loans. The great opportunity is to increase awareness of SLTF and create tailored
loan products that are accessible and relatively affordable. As more and more students seek tertiary
education and the cost of education keeps going up, the market for student loans will grow.
The number of tertiary students who have benefited from the SLTF has increased by almost 50% since
2006 and this is set to increase substantially over the next 5 years. With this increase in applications, the
cash requirement to meet the demand will increase.
1.3 The SLTF - Emerging Trends and Aspirations
A major challenge of the SLTF is that it is unable to provide adequately for the financial needs and
requests from eligible tertiary students. The organisation needs to secure and maintain regular and
adequate funding from a broad range of benefactors in order to support the widest possible profile of
tertiary students on a sustainable basis. This can help maintain competitive interest rates as well.
The sustainability of the operations of the SLTF will also depend on its ability to process loan applications,
loan disbursements, and loan recoveries for those loans paid out to students. SLTF needs to be internally
more effective and efficient in tracking these processes with an appropriate on-line IT system and real-
time data. In addition, loan beneficiaries should have more education as part of the application process
to change their “non-payment” attitudes and to ensure they understand their obligations in the loans
transactions.

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The consumers of tertiary education are becoming more sophisticated and demanding, just as their needs
are increasingly diverse. This requires a diversification of the loan packages that SLTF offers to students
in order to widen its coverage of students, courses of study and institutions and to remain relevant.
The SLTF will continue to face competition from the emergence of Microfinance Institutions, Savings
and Loans companies and the twenty-five (25) universal banks in Ghana, as alternate loan providers
introducing innovative loan products designed specifically for students. The more affordable interest
rates from SLTF, its focused operations on student loans and leadership in innovative and tailored
services may provide a basis for competitive advantages over other operators.
As the SLTF 2016 - 2020 strategy seeks to respond to the emerging consumer and industry trends, it also
responds to the organisations’ ambitions to make the SLTF a household name and the first point-of-call
for tertiary student financing. It also seeks to create a strong, independent, and sustainable Loan Fund
that attracts and retains a large number of Benefactors who associate with the SLTF.
The organisation aspires to be driven by a “business mind-set”, ran by a highly trained and developed
work force that is empowered and motivated and who are operationally effective and cost efficient.
1.4 The Strategic Framework
The Strategic Framework for the SLTF is driven by the expectations of the key stakeholders of the
organisation (especially tertiary students), the changes that are taking place in the loans industry
environment and the ambitions of the SLTF.
The Mission The Vision
to provide TIMELY financial SERVICES to
eligible Ghanaian tertiary students
inspiring and unleashing greater prospects”
1.5 The Strategic Imperatives
Five (5) Strategic Imperatives will drive the choices that the SLTF makes over the next medium term
(2016 – 2020) as follows:
• Sustainably mobilize Funds
• Attract, Develop Retain the best People
• Maximise Awareness of the Corporate Product Brands
• Develop Consumer-Inspired Solutions Product Mixes
• Deploy Technology to optimise operational Efficiency Effectiveness
These will be the focus and priorities of the SLTF and the basis for organisational decisions on trade-offs
and common behaviour.
1.6 The Culture
The SLTF organisation will come to life and give expression to its essential nature
Cultural Aspect Traits Evidence
Values Stewardship Leave a better Outcome
Service Feel the SLTF Experience
Behaviour Teamwork Result Oriented
Achievers
Diligent
Partnership Collaboration
Alliances
Attitude Youthfulness Energy

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Enthusiasm
Fairness Reliable
Predictable
Honest
1.7 The Strategic Outcomes
At the end of the five-year period, the qualitative outcomes of the fully implemented SLTF medium-term
strategy should be:
· Financially sustainable Loan Fund
· Competitive
· An unleashed Place to Work
· Favoured and Preferred student Partner
· A Trusted and Valued organisation
1.8 Translating the Strategy into Action
The measurable overarching Corporate Strategic Goals over the strategic period have been set as shown
in the table below. These define the direction of delivery and are the focal points of all performance
measures for Departments, Teams, and Individuals through all levels of the SLTF.
The Imperatives Proposed Indicators Proposed scope
2016 2017 2018 2019 2020
Sustainably
mobilize Funds
• Increased sources and
quantum of funding
10% 15% 20% 25% 25%
Attract, Develop
Retain the best
People
• Retention of high
performing teams and
individuals
85% 95% 98% 98%
Maximise
Awareness of the
Corporate
Product Brands
• Top of Mind Awareness
• Tailored Products
Services
50%
50%
70%
60%
80%
70%
90%
90%
90%
90%
Develop
Consumer-Inspired
Solutions
Product Mixes
• Map of Consumer Needs
• Consumer Solutions
Products
H Ai
2 pdts 5 pdts
H A
3 pdts 2 pdts
H A
2 pdts
Deploy
Technology to
optimise
operational
Efficiency
Effectiveness
• Disbursement Efficiency
• Cycle Times
• Cost: Disbursement
• Cost: Net Income
10 days
20%
3.0%
5 days
15%
3.0%
48 hrs
10%
2.5%
48hrs
10%
2.5%
Real time
10%
2.0%
Each Strategic Imperative anchors a set of Key Actions that will kick-start the implementation of the
strategy. An individual will own and champion each Action within a timeline required to execute it.
1.9 Monitoring and Evaluation
The SLTF has developed a basic framework to help it track progress on the implementation of the
strategy. The framework sets accountability for delivery and timeously applying appropriate management
interventions across all staff levels in the organisation.

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2 CHAPTER ONE – Developing the
Student Loan Trust Fund Strategy
2.1 Introduction
The effort in Ghana to provide access to financial assistance to students for their tertiary education has
evolved over the decades. Starting in the 70’s, students could access loans from commercial banks via a
scheme designed to finance books and cover living expenses. That scheme collapsed because the high
default rate made it commercially not viable to the participating
banks.
Subsequently, SSNIT launched a new scheme to provide education
loans to tertiary students using funds it was managing on behalf of
SSNIT Contributors. Contributors guaranteed these SSNIT student loans using their personal pension
lump sum payments as collateral. This too met with challenges. The recovery rate was low and once
again, the default level was high. Eventually, SSNIT discontinued its role as a loan provider and
administrator to focus on its core mandate of managing pension funds.
In August 2000, Government created the Ghana Education Trust Fund (GETFund) to oversee a fit-for-
purpose national framework within which Ghanaian students could seek financial assistance for their
tertiary education. The GETFund provides;
(i) nation-wide financing of education from basic to tertiary level,
(ii) the management of the fund and
(iii) makes provision for related matters.
The GETFund receives its funding from pre-agreed proportions of multiple sources of government
revenue from taxes.
As part of the national framework, Government established the Student Loan Trust Fund to administer
and disburse loan requirements to tertiary students who need financial assistance with funds from the
GETFund and other sources.
2.2 The Need for a Students Loan Trust Fund
Many of the people in Ghana’s large population of poor people require various interventions including
the provision of financial assistance when they gain admission into tertiary institutions. The creation of
SLTF builds a not-for-profit loans organisation that can continue to be sustainable and relevant for an
increasing number of tertiary students who need financial assistance in a manner that is equitable and
appropriate as a socially driven mechanism. Though the SLTF is not exclusionary in offering loans
students who are eligible, the focus of its mission is on assisting needy and poor students.
2.3 The Students Loan Trust Fund – the Mandate
Government established the Students Loan Trust Fund (SLTF) in December 2005, under the Ghana
Trustee Incorporation Act 1962, Act 820 to operationalise a social intervention that would help guarantee
the fundamental rights of Ghanaians to access education at all levels. The mandates of the SLTF include;
(iv) “to provide financial resources for the sound management of the Trust for the benefit of students”
(v) “help promote and facilitate the national ideals enshrined in Articles 28 and 38 of the 1992
Constitution”
(vi) “to administer and manage loans in a manner that ensures that eligible students in accredited
institutions have equal access to tertiary education”.
Higher education is a catalyst for
economic development and growth

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The initial source of funding for the SLTF included up to ten percent (10%) of all monies paid into the
GETFund and an allocation from the Talk Tax. The SLTF also had the option to secure funding from
other sources including but not limited to;
(i) money that may be allocated by Parliament for the Fund
(ii) tax-deductible voluntary contributions from private and corporate benefactors,
(iii) the mobilization of resources from Ghana’s international partners interested in the
advancement of tertiary education, and
(iv) loans from SSNIT.
2.4 The SLTF Strategy in the Context of Global and National Development Plans
Ghana adopted the Millennium Development Goals (MDGs) and the successor Sustainable
Development Goals (SDGs) as part of its agenda for development. These together with various
Development Plans under a broad Vision 2020 agenda implemented since 1995, have helped Ghana
define a number of education-specific plans and strategic thrusts for funding education at all levels.
The SLTF mandate responds to a matrix of overarching Development Plans and Strategies including the:
· Millennium Development Goals (MDGs) (2000 to 2015) now succeeded by,
· Education Strategic Plans – Ghana (2010 – 2020)
· Ghana Shared Growth Development Agenda (GSGDA II) (2014 – 2017)
· Sustainable Development Goals (SDGs) (2016 to 2030)
· National Development Planning Commission (NDPC) 40-year Plan (2017 – 2057)
The Medium-Term Strategy of the SLTF
addresses Goal Four (4) of the SDGs which is
to “ensure inclusive and equitable education
and promote life-long learning opportunities
for all” and two (2) of the seven (7) Thematic
Areas under the GSGDA which place
emphasis on “Human Development,
Employment Productivity”, and an “Enhanced Competitive Ghana Private Sector”.
The effective, efficient, and sustainable provision of unbiased assistance to tertiary students will provide
opportunities to enhance the development of entrepreneurial and employable Human Resource, which
is highly productive. This in turn will feed into the development of a Private Sector to drive economic
growth.
2.5 Developing the Students Loan Trust Fund Strategy
2.5.1 The Brief
The SLTF briefed IYA to develop a Medium-Term Strategy for the SLTF over a period of 18 weeks
“through a participatory process involving staff, Board members and other stakeholders” and to “develop
a comprehensive ‘roadmap’ setting the direction and pace of SLTF work over the next 5 years and beyond
in a coordinated and focused manner.”
2.5.2 The Purpose and Structure of the Strategy Document
The Medium-Term strategy for the SLTF was to:
(i) respond to the key emerging and evolving consumer and industry trends that have
implications on the future sustainability and relevance of the organisation;
(ii) articulate the strategic agenda over the next 5 years and the key arrangements required to
translate the strategy into action; and
(iii) serve as the reference document for the operations and deliverables of SLTF including an
implementation plan, the set of corporate targets, and a five-year financial plan.
Providing financial assistance for tertiary education will
enhance the delivery of entrepreneurial, highly
productive and employable human resource for the
development of private enterprise

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One part of this document covers an analysis of the external environment in which the SLTF operates
and the evolving consumer and industry trends. Another part scrutinizes the internal operations of the
organisation and its performance against the current strategy. Lastly, a third part looks at the strategic
framework for the SLTF and the strategic choices made in response to the challenges and opportunities
that confront the organisation.
2.6 The Process and the Participants
The process of developing the strategy begun in August 2015 with a Leadership Journey that brought
together the Board of Trustees, Senior Managers and key people in SLTF to develop the strategic
framework and the strategic imperatives for SLTF. The participants of the Leadership Journey were
encouraged to express their views on the state of the SLTF in an atmosphere of honesty, transparency,
and accountability.
The approach was to build consensus on the key strategic issues, opportunities and choices, and the
organizational and operational matters while challenging and confronting the issues that hold the SLTF
back from outstanding performance.
Two (2) key models served as the bases for
the process of developing the SLTF strategy.
The first one is the model for Aligning to
Strategy shown below. It uses the building
blocks for developing and translating the
Strategy into Action.
Aligning to Strategy
The second model is a structure for Aligning Leadership Roles Responsibilities. This defines the roles
that all levels in the organisation play and their responsibilities as owners and implementers of strategy.
Aligning the Leadership roles and responsibilities of the
SLTF to the Corporate Strategy is key delivering the
ambitions of the Organisation

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Aligning Leadership Roles Responsibilities
2.7 The Key Milestones
The key milestones of the strategy development process included:
· Internal Review and Environmental Scan – understanding the Governance, Strategic, and
Operational environment in which SLTF functions.
· Strategy Development – kick-started with a Leadership Journey to identify the evolving and emerging
consumer and industry trends and to develop the appropriate strategic responses.
· Implementation plan – developing the key actions and implementation plans to translate the strategy
into action
· Monitoring and Evaluation – developing the framework that will track the implementation of the
strategy and the deliverables against the plan.
· Rolling out the Plan – creating ownership of the strategy and accountability at all levels in the
organisation.

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3 CHAPTER TWO – Ghana’s Tertiary
Education
3.1 The Demand for Tertiary Education
In recent years, tertiary education has been in great demand both from individuals and their families
because of the employment opportunities higher education offers as well as the greater earnings potential
it presumably conveys. Tertiary education is also increasing in importance to governments because of the
anticipated public benefits to the social, cultural, political, and economic well-being of countries.
Suppliers of tertiary education have responded by
expanding opportunities and establishing fit-for-purpose
offerings for different needs. Beyond the traditional
“full-time” models there are now many tertiary
programmes designed for working students who take
time out to improve themselves academically.
Currently, the influence of the labour market on courses pursued is limited. Many employers say the
graduates from the tertiary institutions are not readily employable because of the misalignment between
what they study and what the market needs. In addition, the consolidated benefits from improvements
in identification, customer data administration, and ICT increasingly reduce the cost of administering loan
schemes including that run by the SLTF.
There are at least three (3) broad types of tertiary students.
1. The first group includes the normal “continuing students” who go directly through their
tertiary education from the Senior High School. This group constitute the vast majority of
students who populate the tertiary institutions in Ghana.
2. The second group comprises the matured students who go into employment for a period
either because they did not meet the academic entrance requirements at the time or needed
to work to build up resources to continue their education. Teachers and nurses who pursue
their first degree after teaching and serving for some years fall in this category.
3. The third group consists of those students who pursue other higher degrees sometime after
they obtain their first degree. This group tend to be a little more flexible with the design, the
length, and the timetables of the programmes.
3.2 The Structure of Tertiary1 Education 2
Ghana is evolving a balanced relationship between the public and private sector providers of tertiary
education with close linkages in the award of degrees as the private sector participation expands. The
number of students in the chart on the next page are those enrolled in the 117 tertiary institutions currently
covered by SLTF. There are in total about 140 tertiary institutions in Ghana.
1
h p://ghana.usembassy.gov/educa on-of-ghana.html
2
h p://www.whystudyinghana.com/es.html
Tertiary education offers employment
opportunities and the potential for greater earnings

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At the same time, individual needs for financial assistance have become more varied and complex.
Typically, the financial assistance required for tertiary education should cover the cost of tuition, the cost
of learning aids and the cost of boarding and lodging. Though the proportions of these costs differ in
quantum between public and private institutions, overall, the private institutions cost much more than the
public institutions.
3.3 Funding Tertiary Education
In Ghana, the ever-increasing cost of tertiary education frequently makes it
difficult and in some cases, impossible for qualified students, particularly those
from poor backgrounds, to have access to such education. Though it is
obvious that many of these eligible students do, need some form of financial
assistance, the assistance required by these different groups differ in size and
timing. Some depend on family members, friends, and the churches and
associations they belong to for assistance through their tertiary education. There is also evidence that
parents or the students themselves obtain loans from individuals (family members, friends), credit unions,
micro finance institutions, and banks to fund their education.
A few financial institutions offer products described as student loans but how they administer these
products is not very different from traditional bank loans including the need for collateral and guarantees.
Indeed, some parents and students have applied for one-year loans that they pay off in 12 months and
then reapply annually over the period of the education.
The chart on the next page gives a picture of the usual
sources of finance for student’s tertiary education, how
much they cost and the strictness of the prerequisites
needed to access such funding.
307,315 Students
117 Ins tu ons
PRIVATE INSTITUTIONS
59,172 Stodents Enrolled
University Colleges
Colleges of Educa on
Schools of Educa on
Ins tutes
Tutorial Colleges
4-year Degrees 3-year Diplomas 2-year Diplomas
PUBLIC INSTITUTIONS
248,143 Stodents Enrolled
Universi es
Polytechnics
Colleges of Educa on
Schools of Educa on
Ins tutes
Academy
The increasing cost of
tertiary education
sometimes hinders access
The individual needs for financial assistance
have become more varied and complex

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3.4 The Environmental Context of Ghana’s Tertiary Education
3.4.1 The Economy
Ghana’s economy underperformed over the past few years and though some of the fiscal and monetary
policies required to stimulate a recovery are in place this may be slow over the next two years or so before
economic growth accelerates. Some consequences of the depressed performance of the economy are a
lack of liquidity, declining household income and high unemployment. The effect of the high base rate
– now at 26%, and inflation in excess of 15%, has driven the cost of tertiary education upwards and in
many cases pushed the fees beyond the affordability range of many Ghanaians. On top of that, the
challenge of tertiary education in these circumstances is creating room for students to access affordable
financial assistance with a level of assurance of employment after their education.
Source: World Bank
Family and Personal
Funds
Student Loan Trust
Fund
Credit Unions
Non-Bank Financial
Ins tu ons
Tradi onal Banks
Scholarships
0
1
2
3
4
5
6
7
8
9
10
0 1 2 3 4 5 6 7 8 9 10
StrictnessofTermsofAccess
Cost of Access
Es mated Source of Educa onal Funding
Es mated Source of Educa onal Funding
14
9.3
7.3
4.2 3.5
5.9
7.8
0
5
10
15
2011 2012 2013 2014 2015 2016 2017
GDP Growth

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The Chart above shows the World Bank overview of the performance of Ghana’s economy in the last
five (5) years and the forecast for 2016 and 2017. The Government of Ghana’s forecast on GDP growth
for 2015 is 4.1% and 5.4% for 2016 (5.2% excluding
oil). Over the next three (3) years GoG’s forecast on
the average GDP growth is expected to be 8.2% (6.9%
excluding oil) and the targeted inflation is 8%.3
3.4.2 The Social Environment
Ghana’s strategy to reduce poverty has made some gains. However, many Ghanaian households still fall
below the poverty line and this is widespread across the country. The Ghana Poverty Mapping Report of
May 2015 indicates that the northern half of Ghana has the highest cluster of poor households in the
country. This means that many eligible Ghanaian tertiary students cannot make it through their education
without some form of financial assistance.
In Ghana, it is prestigious to have a tertiary education. The contradiction is that although many students
need help financially for their education, they also do not want to carry the social stigma of having
borrowed to do so. The resolution to this conflict depends on how loan products are packaged and
offered. There is evidence that more and more students are now accepting borrowing to fund higher
education as a normal means to an end.
The World Bank has moved from pressuring developing
countries and the donor community to prioritise basic
education to promoting higher education in the year 2000.
This important contextual factor has created more space
and means for more households to send their youth into
higher education.
The pressure for increasing enrolment in tertiary institutions particularly has been on the back of
increasing birth rates over the last decade coupled with rapidly increasing proportions of youth finishing
secondary school with legitimate aspirations for some tertiary education.
As indicated earlier there are many avenues, though limited, that students use to fund their tertiary
education. There are organisations, associations, and welfare funds that provide “soft” loans for long-
standing members to cover financial needs including the funding of education.
3.5 Some Emerging Issues and Opportunities
3.5.1 Growing Number of Enrolment in Tertiary Education
The school list for tertiary institutions in Ghana has risen from 205,027 in 2010 to 307,321 in 2015
representing an increase by 49.9%. This should increase by a comparatively higher rate in the next five
years given the country’s good performance on the Millennium Development Goals for enrolment at the
basic education level and the fact that more students accessed secondary education in the same period.
This stream of pupils will enrol in tertiary education in the years ahead.
However, during the same period, the number of students
who have benefited from loans from the SLTF has
decreased by 33.9% from 35,250 in 2010 to 23,298 in
2015. This represents 7.6% of the total number of
enrolled students.
Though not all the rest of the 92.4% of enrolled students may require loans for their tertiary education, it
represents an opportunity in the market for loans to students that the SLTF must quantify and cover.
3
2016 budget statement by Minister for Finance – November, 2015
Increasing demand from students has created
opportunity for the development of accessible
and affordable tailored loan products
A GDP growth forecast of average 8.2% indicates
room in the economy for the creation of jobs
It is prestigious to have a tertiary education
and there is now space for households to
give their youth this kind of education

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3.5.2 Increasing Sophistication and Demands from Tertiary Students
The consumers of tertiary education are becoming more sophisticated and increasingly demanding.
These demands are now diverse extending to cover the full support systems required to complete their
education. Different loan product propositions and packages are required to satisfy them to enable a
widened coverage.
3.5.3 Increasing and Diversi ied Needs and Expectations.
The number of tertiary programmes and tailored offerings are increasing and broadening in response to
the growing and diversified needs and expectations of tertiary students.
A small but rising number of students now expect the tertiary institutions to align the way they deliver
their programmes to the needs of their stage in life. These include the length and timing of programmes.
These diverse expectations mean the loans could service any combination of needs including tuition,
learning aids or boarding and lodging. Providers of loans must consider different products and offerings
designed to meet these needs rather than a one-size-fit-all student’s loan. Some students appreciate the
real cost of funding a student loan and are willing, able and ready to pay the right commercial price for
such loans.
3.5.4 Tougher Competition in the Student Loan Industry
The competition in the general Loan Industry in Ghana has been increasing rapidly over the last decade
owing to the emergence of several Microfinance Institutions as well as Savings and Loans companies in
addition to the twenty-five (25) universal banks, which are currently in operation in the country. However,
few of these financial institutions have loan packages specifically designed for tertiary level students though
they do provide loans for students under their general products. This makes SLTF the single institution
that is totally dedicated to financing higher education in the country now.
Ultimately, competition in the industry will heighten, as financial institutions come up with innovative loan
products designed for student to compete strongly in the industry for a good share of the Students Loan
segment of the loans market.
3.5.5 Increasing demand on Resources and Capacity of Organisations for Relevance
Providers of student’s loans, including SLTF, will continue to be relevant to tertiary students only when
they continue to offer on time, consumer-led product, and service innovations. This means loan providers
must continually develop the internal capacity and capability to lead the market and make the choices on
what to focus their resources on for optimum returns.
3.5.6 Major Technology Changes
Technology has become a major backbone for
delivering an organisation’s products and services in
a consumer-oriented effective and efficient manner.
This tool will increasingly provide a competitive
advantage in the delivery of the promises for
organisations like the SLTF.
3.5.7 Increasing Risks of Non-recoveries of Loans
In the context of the current low liquidity in the economy and the lack of expansion in employment, the
risk of non-recoveries of loans are getting higher. Some of the traditional collaterals like buildings,
insurance and employer guarantees are either no longer readily available or are no longer relevant. The
ability to manage risks is very important and organisations need to develop the appropriate responses to
the risks.
3.5.8 The Increasing Cost of Tertiary Education
The public tertiary institutions have been largely dependent on governments, or taxpayers, for revenues
to meet the high and rising per-student cost of education. Government’s ‘near-absolute’ subsidization of
tertiary education is consistently dwindling considerably. Accordingly, tertiary institutions are now
The high cost of tertiary education, the high risk
of loan recoveries and technological changes
places demands on the resources and
organisational capacities of loan providers

10 | P a g e
transferring a greater part of the cost of education to students. As this continues, the cost of tertiary
education in the public institutions in Ghana will continue to increase. At the same time the privately run
institutions will continue to strive for reasonable returns on their investments and therefore will reflect the
general cost of running such institutions profitably. In addition, some specialist programmes especially
those related to the oil and gas industry place much higher financial demands on students.
3.6 General Conclusions on Environment in which SLTF operates
There are some challenges in the general loans environment that have their roots in the general
performance the economy, cost of accessing funds and the cost of doing business while remaining viable
over the long term.
Many Ghanaians households are poor and in spite of the aspiration of parents and students to obtain
tertiary education many are financially handicapped. The need for an intervention, no matter how small
is a crucial one and cannot be underestimated.
As more and more students seek tertiary education and the cost of education keeps going up, the market
for student loans will grow. The great opportunity is to create tailored loan products that are accessible
and relatively affordable.

11 | P a g e
4 CHAPTER THREE – The Operations of
the Student Loan Trust Fund
4.1 The Student Loan Trust Fund
Ten (10) years after its establishment, the SLTF is carrying out this
mandate and growing in importance in the area of funding tertiary
education both in terms of the absolute numbers of beneficiaries
and in terms of the overall value of loans given by the Fund. This
is evident in the increasing number of students who access the
Fund’s loans and the increasing level of the amounts made available
to these students over the years.
4.2 The Governance Arrangements
A Board of Trustees led by a Non-Executive Chairman runs the SLTF. The Board performs it duties
through eight (8) sub-committees. A Management Team made up of the Heads of Finance
Administration, Operations Planning, Research Information Systems, and Internal Audit and led by
the Chief Executive Officer supports the Trustees.
4.3 Operations and Activities of the SLTF
The activities and operations of SLTF span from the receipt and/or acquisition of funds, the processing
of loan applications, disbursement of loans to eligible students to the recovery of loans upon maturity.
The SLTF operates much like a bank receiving deposits from Government of Ghana through GETFund
and the CST and then give it out as loans to tertiary students in Ghana.
Receipts and reviews of applications from students are handled through 14 zonal offices with presence on
fifty-one (117) campuses across all ten (10) regions of Ghana. SLTF employees staff these offices and
operate as the first point-of-call for prospective and existing borrowers in the loan application process.
Board of Trustees
Comprising Eleven (11) members,
nine (9) of whom are non-execu ve
Chief Execu ve Oﬁcer
Opera ons
Planning, Research
Informa on Systems
Finance Administra on Internal Audit
Legal/Compliance
Commi ee
Claims Review Commi ee
MIS Opera ons
Commi ee
Finance, Investments,
Administra ve Fund
Raising Commi ee
Execu ve Commi ee
Audit Report
Implementa on Commi ee
Communica ons
Interna onal Rela ons
Commi ee
Complians Commi ee
SLTF
- 14 Zonal Offices
- In 10 Regions
- With presence on 117 campuses

12 | P a g e
4.3.1 Loan Application and Disbursement
The SLTF currently runs an online Students Loan Application System (SLAS). Applicants who do not
have easy access to internet fill out the application forms manually and submit to the nearest SLTF office
(Zone/Campus) of their respective institutions. When the online application is completed, SLTF requires
that applicants submit printed copies of the summary of their completed applications to the Fund’s office
together with all related documents for verification to complete the application process.
The easy to use online application platform includes a
Means Testing Methodology that assesses the financial
background of families in determining the financial needs
of borrowers and this helps SLTF to allocate support to
applicants more equitably.
The SLTF loans repayment process gives two (2) years
grace period after graduation of the loan beneficiary to
start repayment over three (3) or four (4) years depending on the number of years spent on the education.
This means a total of nine (9) to ten (10) years between when SLTF initially disburses a loan and when
the beneficiary fully pays back the loan with interest.
SLTF approves and disburses loans annually for the period of the student’s study in the tertiary institution
as long as they are registered at their institutions as students. One of the limitations of the system that
underpins the disbursement and repayment process (the Students Loans Management System) is that if
a beneficiary starts repayments before all the annual payments are disbursed the system will suspend
subsequent pre-approved disbursements until the beneficiary settles all outstanding balances. For
example, a four (4) year student who starts repaying from year one (1) will not get his/her next three (3)
disbursements until the year 1 balance is paid.
4.3.2 The Students Loan Management Software
The Students Loan Management System (SLMS) is also in place to ensure proper loan data management.
It also helps to reduce the risk of giving loans to wrong applicants.
4.3.3 Cost Ef iciency and Operational Eﬀectiveness
Across Africa the standard measure of operating efficiency used by student loans organisation is the
percentage of operating cost of the net cumulative income. Over the past five (5) years, as shown in the
chart below, SLTF operating efficiency of 3% compares well with other student loans operations in Africa.
The 2012 and 2013 period for the SLTF was characterised by increasing investments required to
consolidate the operations. The second chart on the next page shows the relationship between the average
amounts disbursed per beneficiary and the average cost of operations per beneficiary. Another operating
efficiency measure shown in that chart is the relationship between operating cost and the loans disbursed.
With this measure the efficiency measure SLTF’s rose up to 35% in 2013 and though it dropped to 23%
in 2015 it is still higher than the 2010 start-up level of 15%. All efforts must be made to bring this at least
to the 2010 level.
A recommended cost to value ratio is between 9% and 11%. This level of cost efficiency that will
contribute greatly to the sustainability of the SLTF.
GH¢ m 2010 2011 2012 2013 2014
Net Income 53.0 71.4 88.2 101.3 124.5
Operating Expenses 2.0 2.2 2.3 2.8 3.8
%age cost 4.0% 3.1% 3.0% 3.0% 3.0%
Relationship between Net Income and Operating Cost
The core operating cycle of SLTF is
Receiving Funding, Receiving Loan
Applications and Approving Loans,
Disbursing the Approved Loans and
Recovering the Loans paid out, all in a cost
efficient manner

13 | P a g e
4.4 Situational Analysis (The challenges of the SLTF)
4.4.1 Capitalisation
The greatest risk to the relevance, quality, coverage, and sustainability of all effort including the current
manifestation of the Student Loan scheme is securing and maintaining adequate capitalisation. The SLTF
needs to receive regular injections of funding from a broad range of benefactors to be able to offer student
loans to the widest possible profile of tertiary students on a sustainable basis. However, the SLTF
presently, is almost entirely dependent on the GETFund and this is not sustainable in the long term.
Consequently, the SLTF should build long lasting relationships that will enable them to attract private
entities and motivate them to increase their benevolent giving through the organisation.
4.4.2 Collateral
Whilst Ghana has addressed the fact that financially needy students cannot provide any collateral by
allowing them to use SSNIT contributors, religious bodies, etc. as guarantors, many remain unable to
borrow because potential guarantors are put off by the risks of associated with non-payment by borrowers,
and the fact that an entity can only guarantee one loan at a time. Indeed, the new NPRA law now makes
the use of SSNIT Contributors irrelevant. The SLTF needs to develop a more rigorous framework for
managing the risks of providing loans to students.
4.4.3 Interest Subsidy
SLTF’s advantage in the Students loan industry partly comes from its ability to mobilize cost free funds,
which makes it possible for it to charge comparatively low interest rates on its loans to students. There is
moratorium on repayments of loans until two years after a person has completed their programme of
study and have started working. This makes the Fund’s loan product comparatively attractive than other
student loan packages that demand repayments while the student is in school or soon after a person
completes their education with no consideration as to whether they have started receiving income or not.
The element of interest payments is a double-edged
problem. First, misconceptions about the policy of
charging compound interest calculation causes some
potential beneficiaries to believe that student loans
are not affordable. The socio-economic and political
dynamic tends to default towards a zero-interest loan
or even ‘free money’ that minimises or removes any obligation for repayment. This is unsustainable.
SLTF needs to attract funding from more sources
including private entities and also become a hub
through which increased benevolent giving can be
channeled to support tertiary education
GHS 381
GHS 450
GHS 471
GHS 573
GHS 1,043
GHS 944
GHS 57 GHS 83 GHS 123
GHS 199 GHS 223 GHS 21815%
18%
26%
35%
21% 23%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
GHS -
GHS 200.00
GHS 400.00
GHS 600.00
GHS 800.00
GHS 1,000.00
GHS 1,200.00
35,249
2010
26,955
2011
18,605
2012
13,833
2013
17,095
2014
23,298
2015
Evalua on of SLTF Disbursement/Cost Eﬃciency
Average Value of Loan Disbursed Average Cost of Opera ons
Cost:Value Ra o Cost of Opera ons : Disbursements

14 | P a g e
Second, is the fact that the uneconomic interest rates that are charged represent a massive interest subsidy
and a substantial and costly “hidden grant”. This is also unsustainable.
4.4.4 Non-repayment
The SLTF continues to improve its systems for collection of repayments and tracking borrowers in order
to minimise losses due to non-repayment. However, the massively weak economy is unable to generate
large numbers of graduate-level jobs. As a borrower
expressed, “In the back of my mind I was always
thinking, this money is an investment — that later on,
when I graduate and get a job, I’ll be able to pay it
off, but now I don’t think I’m going to get the return
I thought I would”. The SLTF loan recovery
systems remain technologically limited by the
weakness of national systems that support the traceability of individuals such as social security numbers,
national address systems, and a credible births and deaths registry.
4.4.5 Recovery
Personal commitment to repay is weak and the institutional commitment to assure repayment is weak.
SLTF must review its system for tracking beneficiaries who are due for repayment. Under the current
system, Zonal officers must manually trace 1000+ long lists of names of beneficiaries in their territory and
remind them of their obligations. This makes the model highly ineffective and stretches the resources
required to carry out these activities.
SLTF has loan repayment partnerships with banks such as the GCB, ECOBANK, NIB, and GN Bank.
Borrowers are able to make repayments wherever they are through the Fund’s account in any of these
banks. SLTF has introduced the Students Loan Protection Scheme to help reduce the financial burden
on guarantors and families in the event of death or total or permanent incapacitation of borrowers.
The table below shows SLTF’s recovery trends data over the past five years.
2010 2011 2012 2013 2014
Total Outstanding 53,688,764.57 72,102,458.84 88,393,514.57 102,042,105.20 126,213,201.79
Total Principal 43,871,745.60 55,916,202.40 63,850,442.31 69,660,219.49 85,030,415.63
Total Interest 9,817,018.97 16,186,256.44 24,543,072.26 32,381,885.71 41,182,786.16
Total Due 157,118.69 5,669,753.79 21,308,853.66 23,978,614.02 24,978,203.73
Total Recovered 149,364.55 498,003.72 1,983,890.82 6,038,428.74 8,150,013.73
Total Overdue 25,111.54 436,880.79 2,228,654.40 6,047,423.07 12,520,259.30
0.00
20,000,000.00
40,000,000.00
60,000,000.00
80,000,000.00
100,000,000.00
120,000,000.00
140,000,000.00
Cedis
Performance of Recoveries
SLTF must ensure sustainability by being “business-
like” and by continuously striving for full loans
recovery at interest rates that are viable.

15 | P a g e
The current Students Loan Management System (SLMS) is not able to automatically generate all the
relevant reports and to keep track of the full recovery of loans. These gaps points to the need for a Process
and Systems review that will further streamline and align the operations SLTF in a way that the reports
from the Students Loan Management System (SLMS) are easy to understand and drive the management
decisions on loans recovery. A new in-house Student Loan Information System is being developed to
address this. It is important that the design of this new system responds to all the information requirements
needed to run the Fund. The new system should also enable SLTF project the future funding
requirements and inflows of receivables more robustly so that targets and plans to drive pre-payments,
manage the risks from delayed payments and non-payments are more actionable.
4.4.6 Attitude of Borrowers from the SLTF
Ghana now has an evolving students loan programme designed to become eventually self-financing
through repayment of student loans. However, non-payment and failure to index tightly, repayment to
inflation have effectively converted the loans into grants.
The focus groups4
discussion done across the various institutions as part of this strategy development
process shows that students view student loans as a burden, have a negative attitude towards the loan
repayment, and some beneficiaries hold back on their repayments because they:
· Claim that not enough education is received about their responsibilities to the fund;
· Believe that the systems to credit loan repayments properly to their accounts are weak;
· Assume that there is no database available to aid the SLTF track them when they default
· Know employers do not take steps to deduct loan repayment from the salaries even after
they are informed that an employee is a beneficiary of student loans; and
· Do not trust/know formulas for calculating the compounded interest over time.
Yet together these factors undermine the commonly repeated claims that more beneficiaries will repay
their loans once the SLTF reduces the interest rates on the loans and increases the repayment period.
4.4.7 Perception of the SLTF
The relationship between SLTF and students is largely one of apprehension mainly because students hear
many untruths from colleagues and other self-acclaimed false ambassadors of SLTF who have made it
their job to talk people out of accessing SLTF loans.
Majority of students do not know of SLTF until they are in the
middle of their education programmes and critically in need of
funding.
4.4.8 The Zones
The SLTF should consider a common strategy with tracking
mechanisms to increase the ability of the zones to conduct track outreach, recruit beneficiaries, and track
them post-graduation to facilitate repayments.
4.5 Some Aspirations of the SLTF
The Board of Trustees and the Management of the SLTF believe that the organisation can be inspired
to create a future that will anchor it as the favoured hub of student loans and related services in tertiary
education in Ghana. The following are some of the aspirations that expressed by the leadership team of
the SLTF:
1) SLTF to become a household name educational bank which is true to its Mandate, and
Positioned to be the first point-of-call for tertiary student financing.
4
Cape Coast, Sunyani, Gbaawa, Accra, 5 groups of average 12 people
As SLTF aspires to become a
household name it must dispel the
misconceptions about its services and
liberate its Zonal operations

16 | P a g e
2) An Organisation that is able to Attract Retain a large number of Benefactors who associate
with the Aspirations of SLTF.
3) A Strong, Independent, and Sustainable Students Loan Fund with wide-ranging sources of
funding.
4) A highly Driven Coherent Leadership Team that has stability of tenure.
5) An Organisation that has entrenched Values Behaviour
6) Managed with a Transparent and objective Succession Plan.
7) A highly Trained Developed Work Force that is motivated by a Performance-Based
Rewards System.
8) Diversified Targeted Loan Products aligned to the specific needs of students.
9) Decentralised Empowered Zonal/Regional Operations to serve Clients.
10) An Operationally Effective Cost Efficient loans Fund.
11) Strong and Better relations and collaborations with key Stakeholders.
4.6 Some Conclusions on SLTF Internal Scrutiny
The table on the next page shows the outcomes from the discussions from the Leadership Journey on
the internal dynamics of SLTF. The discussion looked at Governance, Strategy, and Performance in
SLTF. The internal scrutiny revolved around the Operations of SLTF and the People, Finances in the
context of the loans industry. It also looked at the perceptions of Stakeholders and Clients of the SLTF.
Strength Weakness
· A specialist Students Loan provider
· Cost free funding
· Low interest rate
· Repayment moratorium
· Low consumer awareness
· Low consumer education
· Inadequate funding
· Insufficient loans disbursements
· Inflexible Loans System
Opportunities Threats
· Demand for Loans
· Increased market coverage
· Development of product and service mixes
· Diversified needs
· A strong financially independent organisation
· Decentralised organisation
· Increase Competition from Banks
· Sustainable sources of funding
· Low loan repayment rate
· Non-recovery of loans

17 | P a g e
5 CHAPTER FOUR – The SLTF Strategic
Framework
The Strategic Framework for the SLTF responds to the evolving trends in the loans environment and the
aspirations of the SLTF. The Framework defines the pillars that will drive the organisational decisions,
resource allocations, and common objectives. The design of the framework elements emphasises
interdependent targets and operating systems.
5.1 Mission
The Mission of the SLTF and the reason for being is “to provide TIMELY financial SERVICES to
eligible Ghanaian tertiary students”. 5
5.2 Vision
The Vision of the SLTF and the future aspiration of the organisation is “inspiring and unleashing greater
prospects”.6
5.3 The Strategic Imperatives
Five (5) Strategic Imperatives will drive the choices that the SLTF makes over the next medium term
(2016 – 2020). These imperatives reflect a total perspective of delivering value to its stakeholders and the
challenges and opportunities they present to the organization. They are the most important objectives
that the SLTF will focus on and succeed in achieving. They will have sustained impact on performance
and will be the basis for common behaviour and common organizational decisions on trade-offs, resource
allocation and prioritisation.
5
The mission places emphasis on meliness of SLTF disbursements of loans and the meliness of the
repayments of loans. It also places emphasis on the all-round services that the SLTF provides to its clients
beyond just loan disbursement
6
Greater prospects for all stakeholders including the students, their employers, their contribu on to Ghana’s
economy, the ter ary ins tu ons and the SLTF itself

18 | P a g e
5.4 The Enablers
The Enablers of the delivery and implementation of this strategy are the Values, the Behaviour, and the
Attitudes that the SLTF will pursue.
Values Stewardship Leave a better Outcome
Service Feel the SLTF Experience
Behaviour Teamwork Result Oriented
Achievers
Diligent
Partnership Collaboration
Alliances
Attitude Youthfulness Energy
Enthusiasm
Fairness Reliable
Predictable
Honest
5.5 The Strategic Outcomes
At the end of the five-year period, the qualitative outcomes of the fully implemented SLTF medium-term
strategy will be:
· Financially sustainable Loan Fund
· Competitive
· An unleashed Place to Work
· Favoured and Preferred student Partner
· A Trusted and Valued organisation

Sustainably mobilize
Funds
Attract, Develop
Retain the best People
Maximise Awareness of
the Corporate Product
Brands
Develop Consumer-
Inspired Solutions
Product Mixes
Deploy Technology to
optimise operational
Efficiency Effectiveness

19 | P a g e
6 CHAPTER FIVE – Translating the
Strategy into Action

6.1 Translating the Strategy into Action
This chapter focuses on the targets and the actions required to deliver the strategy over the period 2016
to 2020. The measurable overarching Corporate Strategic
Goals over the strategic period have been set as shown in the
table below. These define the direction of delivery and is the
focal point of all performance measures for Departments,
Teams, and Individuals through all levels of the SLTF.
6.2 The Corporate Strategic Goals
The Imperatives Proposed Indicators Proposed scope
2016 2017 2018 2019 2020
Sustainably
mobilize Funds
• Increased sources and
quantum of funding
10% 15% 20% 25% 25%
Attract, Develop
Retain the best
People
• Retention of high
performing teams and
individuals
85% 95% 98% 98%
Maximise
Awareness of the
Corporate
Product Brands
• Top of Mind Awareness
• Tailored Products
Services
50%
50%
70%
60%
80%
70%
90%
90%
90%
90%
Develop
Consumer-Inspired
Solutions
Product Mixes
• Map of Consumer Needs
• Consumer Solutions
Products
H A7
2 pdts 5 pdts
H A
3 pdts 2 pdts
H A
2 pdts
Deploy
Technology to
optimise
operational
Efficiency
Effectiveness
• Disbursement Efficiency
• Cycle Times
• Cost: Value Disbursed
• Cost: Net Income
10 days
20%
3.0%
5 days
15%
3.0%
48 hrs
10%
2.5%
48hrs
10%
2.5%
Real time
10%
2.0%
7
Habits and A tudes Study
All actions to deliver the strategic goals will
be based on common organisational
decisions on priorities, trade-offs and
resource allocations

20 | P a g e
6.3 The Key Actions
The agreed Key Actions to kick-start the implementation of each of the five (5) Strategic Imperatives are
as below. Each action has an assigned owner who will be responsible for leading the implementation.
The Management team will develop the follow-on actions that will evolve beyond 2016.
Imperative Key Actions Who When By
Sustainably
Mobilize
funds
Map out where we can go to talk to people
for free funds (potential sources)
Head, Technical and
Resource Mobilization
Jan 2016
Review of how much goes into operation
as against the funds actually disbursed.
Director of Finance
Administration
Dec 2015
Build a reputation for being efficient and
effective
Chairman, C.E.O. Ongoing
Develop proposals for Board approval C.E.O. Feb 2016
Attract,
Develop
Retain the
Best People
Establish of performance based reward
systems.
Director of Finance
Administration
Mar 2016
Implement SLTF’s scheme of service Director of Finance
Administration
Jan 2016
Provide competitive conditions of service Heads of Departments Mar 2016
Assign Targets to all Departments CEO Jan 2016
Assign Targets to all Staff Heads of Departments Jan 2016
Develop Training Plans for Department Heads of Departments Feb 2016
Succession planning and career
development
Heads of Departments Mar 2016
Maximise
Awareness
of
Corporate
Product
Brands
Map out target groups and tailor messages Public Relations Jan 2016
Develop a plan to engage potential
students and stakeholders
Public Relations, Technical
and Resource Mobilization
Feb 2016
Create more visibility in and outside
campuses of tertiary institutions
Public Relations From Jan
2016
Create awareness through appropriate
media platforms
Public Relations From Mar
2016
Develop
Consumer-
Inspired
Solutions
Product
Mixes
Develop a consumer map for loan needs Head of Operations Feb 2016
Develop briefs and concepts for solutions
and loan products
Head of Operations Mar 2016
Develop solutions and loan products and
test market
Head of Operations Mar 2016
Launch first lot of student loan Products Head of Operations May 2016
Deploy
Technology
to Optimise
Operational
Efficiency
Effectiveness
Review the technology needs of SLTF Head of PRIS Jan 2016
Do a systems and process review Head of PRIS From Jan
2016
Review the entire organization and identify
areas where IT can be deployed to
maximize efficiency and effectiveness in
operations
Head of PRIS Mar 2016
Deploy the appropriate IT system to
underpin the operations of SLTF
Head of PRIS June 2016


21 | P a g e
6.4 Monitoring Evaluation
It is important that the Board and Management of SLTF own the delivery of the Strategic Goals and drive
the implementation of the Key Actions. The Monitoring Evaluation Model begins with the setting of
the Corporate Targets with milestone that is broken down for Departments/Functions, Teams, Zones
and individuals. Each of these targets should contribute to the full delivery of the Corporate Targets.
The Monitoring Evaluation Model assumes the following:
1. The agreed Corporate Goals have been phased with milestones over the strategy period
2. All Departmental, Functional, Team and Individual targets have been approved and signed
3. Cycles of Senior Management, Departmental, Functional, Team and Zonal meetings are in place
4. SLTF has an Appraisal System in place
5. A manager will be assigned to co-ordinate and report on Corporate performance against targets
Monitoring Evaluation will be by series of meetings across five (5) levels as follows:
1. Individual - this will be a daily on-the-job review and weekly evaluation of performance of
individuals against their personal targets. This will be led by the line managers of the individuals
and should be part of the normal appraisal process of SLTF.
2. Team/Zone – weekly and monthly evaluation of the performance of Teams/Zones against the
set targets for the Team/Zone. The evaluation of the Teams will be self-assessing and led by the
Team/Zone Leader.
3. Departmental/Functional – weekly and monthly evaluation of the Department/Function against
the Departmental/Functional targets. The Departmental/Functional evaluations will also be self-
assessing led by the head of department/function.
4. Corporate – quarterly evaluation led by the CEO with Departmental/Functional evaluation
reports presented by the Heads of Departments. The outcomes from these evaluations should
reflect the overall performance of the SLTF against the Corporate Goals
5. Board Reviews – bi-annual Board Evaluations focusing on the performance against the Corporate
Targets and Milestones.
The Monitoring Evaluation Framework
Board Review
Bi-Annual Evaluation Evaluation Reports presented
by CEO
Led by Chairperson
Corporate Evaluation
Quarterly Evaluation Evaluation Reports presented
by Heads of Departments
Led by CEO
Departmental/Functional Evaluation
Monthly Meetings Quarterly Evaluations Self-Assessing
Led by Head of
Department
Team Evaluation
Weekly Meetings Monthly Evaluation Self-Assessing Led by Team Leader
Individual Evaluation
Ongoing/Daily on-the-
job
Weekly Meetings STLF Appraisal Cycle Led by Line Manager

SLTF - Final Consolidated Strategy 20160303

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