However, the sad news is chief executive Dr Eugene Watson’s five-year tenure with the organization comes to an end June 2017.
This was confirmed by the board’s chairperson Dr Ntuthuko Bhengu.
While Dr Watson’s five -year term is drawing to a close, his legacy will reverberate for years to come, as he has been pivotal in changing the trajectory of the organization for the better.
His initial mandate from the Board was to steer the organization in a new strategic direction, as such, its regrettable that I announce the departure of chief executive Dr Eugene Watson, says Dr Bhengu.
“Under his guidance, saw the introduction of an new dispensation which will benefit a far greater number of a car crash victims the Road Accident Benefit Scheme (RABS) Bill, which is now before Parliament, proposes a comprehensive social security safety net that is not fault-based,” says boards chairperson.
“Despite being insolvent since 1981 due to under-capitalisation and an inadequate funding model, the Fund’s fundamental business of claims processing has improved under Dr Watson’s leadership.
RAF’s productivity has increased and consequently its expenditure, resulting in the Fund utilising all available cash. Notwithstanding the cash constraints, Dr Watson has continued to steer the organisation on its transformative path with strategies being fulfilled, the backlog of open claims being reduced, fraudsters being arrested and more claimants being assisted daily, resulting in positive audit outcomes and for the first time ever, three consecutive clean audits.”
In addition, increases in the RAF Fuel Levy would not have been granted were it not for government’s confidence that the Fund’s administration and funding was being managed judiciously.
I can confidently say Dr Watson leaves the Fund in the best shape it has ever been in, notwithstanding the extremely challenging conditions we as a public entity have had to operate under,” continued Dr Bhengu.
The search for new successor will begin soon, read the media statement.