• News
  • Sport
  • TV
  • Radio
  • Education
  • TV Licences
  • Contact Us

For all official information and updates regarding COVID-19, visit the South African Department of Health's website at www.sacoronavirus.co.za

No Result
View All Result
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • SCI-TECH
  • LIFESTYLE
  • FEATURES
  • OPINION
Home Business

Road Accident Fund posts R3.2bn surplus for 2020/2021 financial year

7 June 2021, 2:35 PM  |
Phumzile Mlangeni Phumzile Mlangeni |  @SABCNews
Transport Minister, Fikile Mbalula, made the announcement during a media briefing in Pretoria on Monday.

Transport Minister, Fikile Mbalula, made the announcement during a media briefing in Pretoria on Monday.

Image: Twitter: @MbalulaFikile

Transport Minister, Fikile Mbalula, made the announcement during a media briefing in Pretoria on Monday.

The Road Accident Fund says it posted a surplus of R3.2 billion for the 2020/2021 financial year. This follows a deficit of R5.2 billion the previous year.

The entity has been battling financially over the years as a result of more claims from road crashes as well as fraudulent claims.

The gradual stabilising of the entity has been attributed to a new board that was appointed 18 months ago.

Transport Minister, Fikile Mbalula, made the announcement during a media briefing in Pretoria on Monday.

Video: Road Accident Fund reduces liability to R20 billion

“It is clear that the decrease in finance and administrative costs from R209 million in 2020 to R90 million in 2021, was a significant contributing factor. This is testament to the RAF 2020/25 strategic plan which prioritises reducing administrative costs.”

REDUCING THE LIABILITY OF THE ROAD ACCIDENT FUND

We are on the right path and we will continue to work towards a sustainable and equitable road accident benefit scheme. pic.twitter.com/Q68u5yyjeQ

— |Mr Fix (@MbalulaFikile) June 7, 2021

TODAY: ANNOUNCING THE REDUCTION OF RAF LIABILITY

Together with the RAF board led by the Chairperson, Ms Msibi and RAF Executive led by its CEO, Mr Collins Letsoalo we announced measures taken to reduce the liability of RAF since 2019. pic.twitter.com/eVHOPX5E3c

— |Mr Fix (@MbalulaFikile) June 7, 2021

Share article
Tags: Fikile MbalulaRAF
Previous Post

Eskom to implement Stage 1 load shedding from 5pm

Next Post

Fans shocked by Shaleen Surtie-Richards’ death

Related Posts

A technician wearing a protective suit works on a live 250 000 high voltage power line of a RTE (Electricity Transport Network) electrical substation in Grande-Synthe, France, July 1, 2021.

Eskom laments continued damage to infrastructure

7 July 2022, 10:12 AM
Farm workers busy at work.

Eskom’s rolling blackouts seriously disrupting farming: Agri SA

7 July 2022, 8:47 AM
Vegetarian sausages from Beyond Meat Inc, the vegan burger maker, are shown for sale at a market in Encinitas, California, US, June 5, 2019.

Meat association in support of correct labelling for plant-based foods

7 July 2022, 8:20 AM
Looters hijack a truck with goods in KZN during riots that rocked the province in July, 2021.

Gauteng hopes to reach R1-billion in assistance for businesses affected by July 2021 unrest

7 July 2022, 6:22 AM
The euro was about flat at $1.01845 after sinking as low as $1.01615 on Wednesday, for the first time since late 2002.

Euro hovers near 20-year low on recession worries

7 July 2022, 5:20 AM
The IMF is expected to release its updated forecast for 2022 and 2023 in late July, after slashing its forecast by nearly a full percentage point in April.

IMF chief says ‘cannot rule out’ possible global recession

7 July 2022, 12:02 AM
Next Post
Shaleen Surtie-Richards was best known for her roles as Fiela in Fiela se Kind and Nenna in Egoli.

Fans shocked by Shaleen Surtie-Richards' death

Most Viewed

  • 24hrs
  • Week
  • Month
  • EMS says fire at Bree Street Taxi Rank in Johannesburg has been extinguished
  • The public has until 18 May to make submissions on Icasa’s regulations for extension of expiry period for data, airtime
  • ANC NEC expected to hold a special meeting on Sunday
  • Eastern Cape flood victims plead for support as access to food, services remains difficult
  • Amathole Regional Secretary elated to have corruption charges against him dropped
  • Interpol arrests suspect for swindling US citizens millions of dollars
  • Police officers may soon not be allowed weekends off
  • Missing Soweto boy’s body found at Eldorado Park wastewater plant
  • Police close investigation into Enyobeni tavern tragedy
  • Taxi commuters to pay an additional R5 in fare from Friday
  • Interpol arrests suspect for swindling US citizens millions of dollars
  • East London police search for clues that led to tavern death; calls to revoke tavern’s licence 
  • Police officers may soon not be allowed weekends off
  • UPDATE: At least 17 people killed in an East London tavern stampede
  • NTA yet to decide whether to support calls for national shutdown amid fuel price hikes

LATEST

A technician wearing a protective suit works on a live 250 000 high voltage power line of a RTE (Electricity Transport Network) electrical substation in Grande-Synthe, France, July 1, 2021.
  • Business

Eskom laments continued damage to infrastructure


Cooling towers are pictured at a coal-based power station owned by Eskom in Duhva, South Africa, February 18, 2020.
  • South Africa

COSATU calls for state of emergency due to ongoing electricity crisis


File Photo of SAFTU members protesting economic woes in SA
  • South Africa

SAFTU plans national shutdown against rising cost of living


Farm workers busy at work.
  • Business

Eskom’s rolling blackouts seriously disrupting farming: Agri SA


Vegetarian sausages from Beyond Meat Inc, the vegan burger maker, are shown for sale at a market in Encinitas, California, US, June 5, 2019.
  • Business

Meat association in support of correct labelling for plant-based foods


A person works next to a paraffin lamp.
  • South Africa

North West families blame Eskom’s rolling blackouts for death of two children


Weather

  • About the SABC
  • Contact Us
  • Jobs
  • Advertise
  • Disclaimer
  • Site Map

SABC © 2022

No Result
View All Result
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • SCI-TECH
  • LIFESTYLE
  • FEATURES
  • OPINION

© 2022

Previous Eskom to implement Stage 1 load shedding from 5pm
Next Fans shocked by Shaleen Surtie-Richards’ death