MVA shows revenue growth

22 Jun 2016 10:10am
WINDHOEK, 22 JUN (NAMPA) - The Motor Vehicle Accident Fund (MVA) is showing an increase in revenue during the 2015/2016 financial year for the first time since its actuarial valuation in 2004.
It's revenue increased by seven per cent, investment income by 33 per cent and showed an accumulated surplus of N.dollars 7.8 million.
An operational surplus of N.dollars 122 million, which is 10 per cent higher than during the 2014/2015 financial year, was also recorded.
Additionally, the fund achieved a funding level of 101 per cent, up from 84,2 per cent in the previous financial year.
This positive news was shared during the MVA stakeholders’ dinner on Thursday in Windhoek, where Minister of Works and Transport, Alpheus !Naruseb said the MVA played an immeasurable role in the promotion of road safety in Namibia.
“The MVA undertakes concerted and ongoing efforts in ensuring that road users are educated with the main purpose to change mindsets, attitudes and behaviour and to create a deep-rooted culture of road safety among all road users,” he said.
The minister also reflected on the recent accidents when about 16 lives were lost in three different accidents, saying if the trend continues the MVA will be negatively affected.
“If the current safety road situation does not improve, if the number of persons injured in road crashes does not decline, the fund may find itself back at the drawing board as it disburses resources on supporting persons affected by road crashes.”
The MVA currently has seven service centres across Namibia, established as part of Government's efforts towards its decentralisation policy of bringing equitable services to all Namibians.
Also addressing stakeholders at the dinner, MVA Chief Executive Officer (CEO) Rosalia Martins-Hausiku commended all role-players like medical doctors, paramedics, hospitals and clinics for their continued support during road crashes.
She said true to the MVA's vision to support crash victims’ independence and have them return to their normal life as soon as possible, the MVA has embarked upon several programmes.
The Return to Work/School/Independence programme, established during 2014, impacted positively on 84 per cent of the 436 claimants who in 2015/2016 achieved their rehabilitation goals within six months post injury.
The Spinal Cord Injury Rehabilitation Unit rehabilitated 34 persons during the same period.
Other achievements included the caretaker training of persons to look after seriously injured claimants and the home modification programme to ease mobility at home for those using wheelchairs or experience physical disabilities a result of an accident.
Home modification is, however, not possible when clients rent homes.