A former senior actuary at the Road Accident Fund (RAF) has delivered explosive testimony to Parliament. He described a controversial accounting change as an “accounting sleight of hand.” Management designed this to mask the fund’s actual insolvency and mislead the public. In a damning affidavit submitted to the Standing Committee on Public Accounts (Scopa), Itayi Charakupa, the RAF’s former senior…
Tag: Road Accident Fund (RAF)
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RAF’s Unpaid Claims Cause Hospital Closure
Sunshine Hospital, a 200-bed private medical facility, has been forced into permanent closure due to financial insolvency. The closure was due to more than R300 million in unpaid, adjudicated claims from the Road Accident Fund (RAF). The details of the hospital’s collapse were laid bare before Parliament’s Standing Committee on Public Accounts (Scopa). The hospital’s boss, Kenneth Ford, delivered damning…
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Road Accident Fund Bonuses Scrutinised by Scopa
The Road Accident Fund (RAF) paid R231.7 million in bonuses during a financial year. These Road Accident Fund bonuses came under scrutiny when, during the same year, the RAF received an adverse audit opinion from the Auditor-General of South Africa, as Parliament heard on Monday. The revelation, contained in the fund’s latest annual report, has become a focal point for…