RFA’s glittering achievements
By Hilary Mare
ROAD Fund Administration (RFA) has had a stellar past years, with recently held Annual General Meeting showcasing some of these achievements that include a total investment of up to N$19.67 billion in the maintenance and preservation of the national road network since its inception.
Essentially, RFA’s revenue grew from N$300million in 2000 to N$2.50billion in 2019.
In the past financial year RFA revenue grew by 5.5% from N$2.37 in 2018 to N$2.5 billion in 2019, RFA invested N$2.28 billion for the 2018/2019 period in the national road sector projects and administration and raised N$500 million on behalf of the government in order to contribute to urgent funding needs in the road sector.
The entity provided N$I03million to 56 Local Authorities and 14 Regional Councils for urban road maintenance projects, representing an increase of 32%. It also invested N$26 million on traffic law enforcement equipment such as vehicles, speed cameras and breathalysers.
In light of these, Ali Ipinge, Chief Executive Officer of the Fund, highlighted that the Financial Year 2018/2019 has been most gratifying in many respects, and the implemented strategic initiatives were achieved amidst challenging economic environment.
He further pointed out that RFA has made considerable progress over the past five years, with substantial increase in revenue growth in excess of 60%, improved balance sheet - with assets close to a N$1 billion mark. The RFA was able to take up loan facilities in excess of N$950 million to fund much needed road rehabilitation program. However, this has inadvertently resulted in increased Fund liability position.
Further positives that were recorded were a surplus of N$201 million at the end of March 2019, which is reinvested into the national road infrastructure while at the same time the Fund constructed 55 houses for staff accommodation at 14 remote border post at total investment ofN$68 million.
RFA is cognisant that the future will bring dramatic technological improvements to the transportation sector, requiring closer stakeholder engagement and policy innovation to create the legal framework for intelligent transport systems. Whatever the future of transportation hold s, the RFA will continue to track these development s to ensure that Namibia has a safe, reliable and more connected road network,” Ipinge said.
RFA provided funding to on-going road construction projects across the country that includes: Windhoek- Hosea Kutako International Airport; Windhoek- Okahandja Dual Carriageway; Walvis Bay - Swakopmund Dual Carriageway; Otjinene- Grootfontein; Swakopmund- Henties Bay- Uis- Kamanjab; Okatana- Endola- Onhuno; Nama!ubi -!size- Luhonono; and Rosh Pinah- Oranjemund.
At the AGM, the Deputy Minister of Finance, Natangwe Ithete congratulated RFA for its continued good achievements in ensuring sustained revenue collection for sustainable upkeep of the national roads, and for presenting an Integrated Annual Report and Audited Financial Statements for 2019 financial year. In noting that Namibia has amongst the best quality roads in Africa, and that RFA is at the helm of ensuring sustainable funding for the upkeep of safer roads, the Deputy Minister, urged RFA to make improved contributions toward s road safety education, as the country continue to loose productive lives on the national roads due to road accidents.