Friday, July 12, 2024
16.9 C
Maseru

Outgoing Road Fund boss hailed

Business

Staff Reporters

The outgoing Chief Executive Officer (CEO) of the Road Fund, Nkekeletse Makara, has been commended for his significant contributions at the helm of the organisation dedicated to the collection of revenue for financing road infrastructure development.

Makara, who is stepping down at the end of June this year, has led the Road Fund for the past 11 years, earning praise from his colleagues for his impactful leadership.

“Mr. Makara joined the Road Fund Secretariat in April 2013, and during his tenure, has made significant contributions to the growth and success of the organization to where he leaves it today,” a statement from the Road Fund read.

His exemplary work ethic has been particularly noted by the management and staff at the parastatal.

“The Road Fund Board, Management, and Staff remain grateful to have had a CEO of Mr. Makara’s caliber; his intelligence, integrity, and determination will forever be cherished. All the best in your future endevours, Chief!

“Owing to his remarkable leadership, the Road Fund CEO exits his role in the middle of his tenure as the Chairperson of the African Road Maintenance Funds Association (ARMFA) Southern Africa Focal Group known as ASAFG,” the statement added.

Road Fund collects revenue from various sources to finance road infrastructure projects.

These sources include road toll gate fees, cross-border fees and levies, motor vehicle registration, licenses and clearance fees, short-term and special permits for motor vehicles, road maintenance levies on petrol and diesel, fines for overloaded goods vehicles, road traffic offences, interest earned on deposited funds, cost-sharing with community councils for urban and rural road works, other road user charges, and donor funding.

The Road Fund finances routine, emergency, and periodic maintenance of all roads in Lesotho, as well as road rehabilitation, upgrading, new road works, road safety projects, and other road-related matters.

Makara leaves the organization following a particularly strong financial performance during the 2022/23 financial year.

According to its 2022/23 annual report, the Road Fund saw a revenue collection increase across all streams compared to the previous financial year. This growth was driven by increased fees and levies from the Road Maintenance Levy and Toll Gate Fees.

Overall, revenue collection saw a 19.4 percent increase, including from vehicle registration fees, a new stream previously managed by the Department of Traffic and Transport.

However, the annual report also highlighted challenges, including the under-utilization of funds by Implementing Agencies.

“The Agencies could not match the budget allocated with expenditure on projects on the ground. Of the M217, 395, 375 allocated, only M72, 605,971 had been utilised at the end of the reporting period. For this financial year two of the three Implementing Agencies did not implement new projects, despite the Road Fund having allocated funds as per their yearly implementation plan,” revealed the annual report.

- Advertisement -spot_img
- Advertisement -spot_img

Latest article

Send this to a friend