The Passenger Rail Agency of South Africa (Prasa) has finally submitted its 2016/17 annual report to Parliament - almost 12 months behind schedule. And the report does not paint a pretty picture.
The country's rail agency is not only on the brink of financial collapse‚ it is shedding commuters who have lost confidence in its ability to deliver an efficient and timeous service.
The annual report‚ which covers the financial year ended in March 2017 and which was supposed to be tabled in Parliament at the end of September last year‚ reveals that Prasa was failing to deliver in its core mandate‚ which the agency blames on governance and leadership instability.
Only 55% of targets for the period under review were achieved‚ up from 40% in the preceding year.
Prasa recorded a comprehensive loss of R928-million‚ up from a R554-million loss the previous year.
Its revenue declined by 12% from R3.3-billion in 2015/16 to R2.9-billion in 2016/17‚ mainly due to a decline of 14% - or R389-million - in fare revenue collection‚ from R2.7-billion in the previous year to R2.3-billion during this period.