Mbabane – The Swaziland Motor Vehicle Accident Fund posted solid revenue growth and improved financial discipline in the second quarter, officials said at the ongoing Business Review Forum.
Acting CFO Cindy Dludlu presented the Fund’s financial results, revealing revenue of E159.87 million and a 29 percent reduction in the annual deficit to E24.05 million through disciplined cost management. Total assets stood at E702.93 million, while reserves increased by 11.6 percent. Dludlu noted that strategic priorities include optimizing assets, including the planned sale of the Gwamile Building, managing operational challenges, and supporting the implementation of the new SMVAF Bill. She stressed that the Fund remains a going concern committed to long-term financial stability.
Acting COO Tengetile Msibi reported that E29 million in claims were settled during July to September, providing vital support to accident victims. The Fund has introduced a Query Management System and Call Centre Split Lines to improve efficiency and responsiveness for customers. Road safety initiatives are being intensified in the high-risk Hhohho region in partnership with key stakeholders.
Corporate Executive Sam Mzileni addressed staff at the forum, acknowledging remarkable progress on strategic projects and urging employees to maintain the momentum, noting that collective effort drives the Fund’s success.
Mbabane Municipality Council representative Bheki Mkhonta attended the forum to share guidance on waste management and safety. He encouraged employees to support the Green City Project and work with the municipality to build a cleaner and greener Mbabane.
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