Motor Vehicle fund raises funding level from 84% in 2014 to 141%, despite tough economic conditions
The Motor Vehicle Accident Fund recently unveiled the institution’s new five-year strategy, which officially commences from 1 April 2019 to 31 March 2023.
MVA Chief Executive Officer Rosalia Martins-Hausiku made this announcement at the Fund’s quarterly media day engagement with journalists which was held in Windhoek last week Friday.
According to Martins-Hausiku the last five years (2014-2019) have been an incredible journey where the Fund yielded positive financial results.
“Despite tough economic conditions, the institution has remained driven in raising its funding level from 84% in 2014 to a sound financial position of 141%,” she added.
“As we pave the way for our next five-year roadmap, the MVA Fund will continue to play a vital role in developing understanding amongst our stakeholders regarding the causes of crashes, injuries and fatalities, while at the same time embarking on road safety awareness campaigns across the country in line with the Decade of Action strategy,” said Martins-Hausiku.
The key performance areas outlined in the new roadmap strategy are as follows: Enhance Customer experience; enhance employee experience; effective internal processes; financial performance
and risk management.
Meanwhile the latest development follows on from the CEO’s latest re-appointment by the Board for a second term on 1 October 2018.
Remaining steadfast on its mandate, the MVA Fund will continue to support injured people, or dependents of persons injured or killed in motor vehicle crashes, by empowering them to take ownership of their journey to recovery and independent living, she added.
“I remain optimistic that as we continue to grow this financial standing, it will ultimately help reduce our dependency on the fuel levy. This can be achieved through effective and efficient financial management to grow our net assets, thereby generating more revenue in the next five years,” she said.
The Fund’s latest Strategic Business Plan will be made available to the public and its stakeholders on 1 April.