THE FUND EXCEEDED MOST OF ITS ANNUAL TARGETS
The Motor Vehicle Accident (MVA) Fund hosted a stakeholder dinner on the 24th of October 2017 in Swakopmund. The dinner which was aimed at briefing stakeholders and the media on the Fund’s performance during the 2016/17 financial year, is an annual platform that the Fund uses to engage its various stakeholders.
Addressing the audience at this prestigious event, the Fund’s Chief Executive Officer Rosalia Martins-Hausiku, declared that the Fund’s finances are in good state with the company recording N$1 billion dollar worth of assets during the period under review. “I still remember the days when we would make headlines as MVA Fund for being technically bankrupt. One of the headlines read ‘MVA Funds balance sheet a wreck’, but I am glad to announce that those headlines are now in the past”, she said.
The stakeholder dinner coincided with the unveiling of the Fund’s new logo which represented its renewed commitment towards ensuring that road crash casualties are returned back to independence. The new rejuvenating brand embodies the supporting role that the Fund plays in the communities.
Sharing with the stakeholders the Fund’s major year-to-date achievements, Hausiku-Martins mentioned that the Fund has attained or exceeded most of its targets in achieving its strategic goal whilst fulfilling its mandate.
MVA Fund 2016/17 Financial Year Performance
|Key Performance Indictor||Target||Achievements|
|Staff Satisfaction Level||80%||83%|
|Investment Income||N$38 million||N$56 million|
|Investment Portfolio||N$104 million||N$108 million|
While supporting the national development agenda Vision 2030 and fulfilling its mandate of returning claimants to independence, the Fund returned 250 people to work, 30 people to school and 103 people to the community. Moreover, the life of seriously injured patients have been significantly improved through specialised rehabilitation programmes provided via the Spinal Cord Injury (SCI). Such programmes include caretaker training and house modifications which led to the customer satisfaction rate of 94%.
Even though the Fund achieved most of its 2016/17 financial year targets, it is still facing challenges with regard to the reduction of crashes that are occurring on a daily basis. Hausiku-Martins mentioned that the Fund’s responsibility is to reduce fatalities, but currently statistics indicate that fatalities year-to-date have increased by 74% while crashes decreased by 6%. “Impact of road-related injuries and deaths are immense and at times irreparable, and not only felt by individuals; it is being felt more and more on a national level. It is therefore important to recharge focus on road safety as we try to mitigate its negative socio-economic effects,” she said.