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.”