Broke Road Accident Fund blows millions to sit pretty

A total R1,666 per month —  that is what the bankrupt Road Accident Fund is paying per chair in a furniture rental contract.

The contract for the rental of 300 chairs at a hefty R500,000 a month comes after a bid was scuppered to push through an even more audacious five-year, R60-million furniture rental contract with the same company in March.

The extravagance will be a bitter pill to swallow for cash-strapped South African motorists, who will have to cough up for yet another price increase at the petrol pumps next week. The RAF, which is technically insolvent with contingent liabilities of close to R190-billion, pockets R1.93 for every litre of petrol sold. 

Read the full story in the Sunday Times.