MVA Fund assets reach N.dollars 1 billion

26 Oct 2017 09:10am
SWAKOPMUND, 26 OCT (NAMPA) – The finances of the Motor Vehicle Accident Fund (MVA) are in an excellent state this year, the company’s Chief Executive Officer Rosalia Hausiku has declared.
Hausiku was briefing the media about the fund’s performance from January to October at a stakeholders’ gala dinner in Swakopmund on Tuesday.
“I can confidently say media reports that our finances are in shambles are part of the past. We managed to attain N.dollars 1 billion in assets as of February 2017. This is a first in the history of the fund,” she said.
At the same event, Hausiku also unveiled the new MVA logo.
She said most of their yearly targets were either exceeded or reached.
They set an investment target of N.dollars 38 million and achieved N.dollars 56 million.
On customer satisfaction, the fund aimed at 85 per cent and achieved 93 per cent, while the stakeholders’ satisfaction goal stood at 80 per cent which was reached as is.
“We also managed to rehabilitate 157 people who were involved in car accidents,” said the CEO.
She said the lives of those involved in accidents were further improved by returning 250 of them to work, while 30 were returned to school.
Another 103 who could not go to work or school returned to the community.
Hausiku said although crashes decreased by six per cent within the said period, fatalities increased by 7 per cent.
“Our aim is to reduce fatalities and as you can see we did not, it probably tripled. This calls for more collective efforts to reduce crashes and fatalities on our roads,” she said.
The partnership with the Namibia University of Science and Technology to train paramedics is also a success.
“We have now produced four advance life support staff at the fund. These are the first to graduate in the country, meaning they are our own products.”
She said the good performance did not mean there were no challenges.
“It is not all perfect and there are still challenges we need to address.”
(NAMPA)
PKS/EKM/HP