RFA earns N.dollars 2.37 billion in 2017/18 financial year
20 Nov 2018 14:30pm
WINDHOEK, 20 NOV (NAMPA) The Road Fund Administration (RFA) recorded income of N.dollars 2.37 billion through road user charges during the 2017/18 financial year.
The revenue recorded is an increase from N.dollars 2.21 billion the previous financial year.
This was revealed by Chief Executive Officer (CEO) of the RFA, Ali Ipinge on Tuesday during the institutions annual business plan consultative meeting.
Ipinge said the RFA fell short of reaching its budget target by one per cent due to the sluggish economic environment which impacted all road user charges.
Furthermore, the RFA invested over N.dollars 2.2 billion in the preservation and development of the road network.
Our Road Fund investment through the various approved authorities has provided contractual employment to more than 650 Namibians and sustenance to numerous small to medium enterprises locally, he added.
Meanwhile, Chairperson of the RFA board of directors, Penda Ithindi said it was the administrations proposition to inject about N.dollars 13 billion into the domestic economy of which N.dollars 10 billion is for projects and programmes over the next five years.
The RFA also has intentions to strengthen its liquidity and financial position to respond to and service its obligations.
To achieve some of these policy objectives, the road sector will have to initiate and implement innovative strategies and instruments, said Ithindi.
He mentioned the RFA would explore alternative revenue streams while implementing agencies would have to introduce vigorous planning techniques and project management instruments drawn from best practices.