The Road Accident Fund RAF has been operating under sustained financial distress for more than three decades, with liabilities consistently exceeding assets since as far back as 1981, former board members told parliament this week.
Appearing before parliaments standing committee on public accounts Scopa in Cape Town on Wednesday, former RAF board members Nomonde Buyisiwe Mabuya former deputy chair, Thembelihle Nkosazana Msibi former deputy chair and chair and Zanele Lorraine Francois said the funds current crisis was the result of long-standing structural, governance and legislative failures that predated their tenure.
Their submissions are part of Scopas inquiry into the governance, financial management and operational failures at the RAF. While the committee formally adopted the terms of reference for the inquiry in July, covering the 2020/21 to 2024/25 financial years, it has made clear that earlier decisions and omissions that contributed to the funds collapse will also be scrutinised.
