Latest news with #R79m
Eyewitness News
16 hours ago
- Business
- Eyewitness News
Suspended RAF CEO Letsoalo says he helped save R50 million
JOHANNESBURG - Suspended Road Accident Fund CEO, Collins Letsoalo, said that he helped the fund save R50 million during his tenure, achieving all key objectives set for him since taking office in 2020. Letsoalo was speaking at a media briefing in Pretoria on Saturday, alongside suspended chief investment officer, Sefotle Modiba. ALSO READ: • 'Do you want us to die in silence?' Suspended RAF execs claim they're receiving death threats • Modiba and Letsoalo say their suspension from the RAF is 'baseless' • RAF rescinds decision to place CEO Letsoalo on special leave, replaces it with suspension • SIU probing RAF CEO Collins Letsoalo over R79m lease • Suspended RAF CEO Letsoalo will still receive his full pay & benefits
Eyewitness News
3 days ago
- Business
- Eyewitness News
'Do you want us to die in silence?' Suspended RAF execs claim they're receiving death threats
Letsoalo, suspended over an alleged irregular R79 million building lease, and Modiba, who is accused of dishonesty regarding his past employment, said that the accusations against them were false. ALSO READ: • Modiba and Letsoalo say their suspension from the RAF is 'baseless' • RAF rescinds decision to place CEO Letsoalo on special leave, replaces it with suspension • SIU probing RAF CEO Collins Letsoalo over R79m lease • Suspended RAF CEO Letsoalo will still receive his full pay & benefits Letsoalo and Modiba claimed that their suspensions were not about misconduct, but retaliation. They allege that judges, lawyers, and even the RAF's board chairperson, Lorraine Francios, were at the centre of financial mismanagement at the state-owned fund. Letsoalo added that his failure to appear at a SCOPA hearing in May, which was cited as another reason for his suspension, was because he was placed on special leave a day before by the board chairperson, who then told him not to attend. On the other hand, the CIO, Modiba, also dismissed claims that he misled the RAF about his exit from the City of Johannesburg. Letsoalo told the media that they would fight to maintain their integrity. "What would you rather we do? Do you want us to die in silence or you want us to deliver an ostrich post and say they are coming for us? We are ready, where this comes from, we are ready, we will show you how systematically we are being bullied." Letsoalo added that that he was prepared to give his life to ensure the truth was revealed.
