compressed_Annual Report 2016-ilovepdf-compressed

has indeed yielded positive results as
surplus funds increased by 8%.
Stakeholder concerns on limitations on
benefits
The Fund’s revised compensation
regime under the MVA Amendment
Act, 2011 has ensured that the Fund
remains sustainable as a business,
with the capacity to meet claims
now and in the future. This was made
possible through the introduction of
a number of limitations on the Fund’s
liability to pay for certain types of
compensation. Notably, the amendments
also increase the awards on
other types of claims, which were
previously limited to lesser amounts.
While these changes have improved
the Fund’s financial position and its
ability to settle claims in the future,
there have been concerns from key
stakeholders who have made valid
observations on these limitations on
some of the benefits. The Fund is
sensitive to these sentiments and wish
to assure our stakeholders that their
concerns are being considered.
Staff Training
For any organisation to achieve its
targeted goals, there is a need to
pay attention to the up skilling and
retention of its human capital. In the
year under review, the Fund engaged
in a skills audit as well as a
performance management system
(PMS) with a view to ensure that staff
were well-equipped to help the Fund
carry out its mandate.
Customer service
Our customers and stakeholders
remain our core area of focus in
discharging the mandate given to us
by the shareholder. In order to meet
and engage with the customer at
their convenience, the Fund began to
implement a decentralisation exercise,
which entails setting up satellite offices
in all regions of the country, making
the Fund more accessible to accident
survivors.
In the year under review, the Fund
undertook to develop and conceptualise
a customer service centre, and
we are happy to report that good
progress is being made in this regard.
The Fund has developed a customer
service charter which will soon be
‘sold’ to claimants as a measure of
standards or our promise for service
delivery.
Building project
At the time of reporting, the Fund had
made good progress on the construction
of its headquarters on Mbhilibhi
Street in Mbabane and completion
of works was expected to be within
schedule. The building will house a
clinic, radiology centre and office
block. It is anticipated that when the
building is complete the Fund will cut
back on referrals and associated
costs as well as generate income
from office space rentals.
Challenges
That road accident statistics continued
to increase during the year is a cause
for concern as accidents are the main
cost driver in our business, and this
does not augur well for the future of
the Fund at the rate things are going.
However, we have committed
ourselves to collaborating with other
stakeholders in driving down the
accelerating rate of fatalities and
serious injuries. We continue to work
with stakeholders internally and regionally
on road safety interventions
as a risk management strategy. At
a global level, we have subscribed
to the Decade of Action for Road
Safety, and we have structured our
intervention campaigns in such a way
that they conform to the five pillars of
the global plan of action.
Zweli Jele
Board Chairman SMVA
SINCEPHETELO MVA FUND 11