RTMC gets clean bill of health from Auditor-General

2013-08-05 13:44

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

The Road Traffic Management Corporation (RTMC) has received a clean bill of financial health for 2012/13 from Auditor-General Terence Nombembe.

“I am comfortable to note and remark that we are doing very well,” acting CEO Collins Letsoalo told reporters in Pretoria today.

“If you remember last year the problems that we had, including that the RTMC was in a state of so-called bankruptcy, we were also having a major deficit of about R200 million,” he said.

But the current financial figures clearly showed the RTMC was in a better position.

Letsoalo made a presentation on the finances of the RTMC.

One slide indicated that the cash and cash equivalents for the financial year ended March 31 2013 stood at R375 million, compared with R130 million in 2012.

The RTMC’s total net assets were R418 million.

“You can see from the figures that the RTMC is in a better position,” said Letsoalo.

“You would see it from our financials that the balance sheet is stable. We are a better entity than we were in 2010.”

He added the corporation would not tolerate corruption.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.