Collins Letsoalo appointed new boss of the Road Accident Fund
Cabinet has approved the appointment of Collins Letsoale as the new permanent Chief Executive Officer (CEO) of the Road Accident Fund (RAF).
This was confirmed in a statement by Transport Minister Fikile Mbalula on Friday.
“We welcome this decision and we believe this appointment will go a long way in placing the RAF on a stable footing.
“Mr Letsoalo joins the RAF at a time when it is facing daunting challenges, and requires a steady hand to guide it through the change into the Road Accident Benefit Scheme once the enabling law has been passed by Parliament. “
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The fund, which is government’s second largest contingent liability after Eskom, owes more than R17 billion to claimants.
Legal expenses have also grown from about R940 million in 2008 to about R10.6 billion in the current year.
It’s been predicted that a loss in revenue of at least R15 billion will be incurred this financial year.