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Road Accident Fund almost R27 billion in debt

4 October 2018 4:55 PM
Tags:
Road Accident Fund
Fuel levy
RAF
The acting CEO concedes in the annual RAF report that the current model is financially unsustainable.

The Road Accident Fund (RAF) is in deep financial trouble and still has almost 200 000 unpaid claims.

The RAF R26.3 billion in the red, reports EWN's Lindsay Dentlinger.

This is despite substantial increases in the fuel levy over the last three financial years.

In February, then Finance Minister Malusi Gigaba increased the levy by 30 cents a litre.

Now opposition parties are calling for a freeze on fuel levies due to the ever-increasing cost of fuel.

Read: Petrol price to hit R17.00 per litre

At the same time, a road accident benefit scheme bill is before Parliament that is intended to replace the RAF.

The proposed bill has been slammed for its no-fault system for claimants seeking compensation.

Also read: DA accuses ANC of giving drunk drivers the go-ahead to claim from Rabs

They're almost R30 billion in debt.

Lindsay Dentlinger, EWN reporter

Considering the amount of money thrown at this fund every year, not to mention the 30 cent increase in the fuel levy this year, it's questionable as to where they go from here.

Lindsay Dentlinger, EWN reporter

The acting CEO concedes in the annual report that the current model is financially unsustainable.

Lindsay Dentlinger, EWN reporter

Take a listen to the EWN update:


4 October 2018 4:55 PM
Tags:
Road Accident Fund
Fuel levy
RAF

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