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How not to end up on ‘I Blew It'

How not to end up on ‘I Blew It’

Boitumelo Ntsoko hosts The popular show ‘I Blew It’ on DStv.  This podcast follows the lives of people who have received large amounts of money, either through their inheritance, the lottery or the Road Accident Fund. Often they end up spending it all and ending up in a far worse position than before they got their windfall. Sadly, this is a reality that we have seen play out in our own communities, where young people misuse a large sum of money they come across. Certified financial planner at NFP Private Wealth Management Thulisile Nkomo shares some tips on how to maximise your financial windfall smartly. Read the full transcript or listen to the podcast on Moneyweb’s site.    

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Major Costs You Can Recover After A Car Accident

EconoTimes: Tuesday, July 13, 2021 12:16 AM UTC Suppose you were recently involved in a car accident. In that case, you might be unsure of the costs you can recover and where to recover these costs from. Even if the accident was not severe and your injuries are not life-threatening, you are still entitled to compensation. In cases where a car insurance policy covers you, you will be able to claim damages from your insurer. However, if you don’t have insurance, things can get a bit tricky, mainly if the responsible driver had fled the accident scene and the authorities are unable to locate them. In other cases, the responsible driver may not have insurance. Fortunately, most regions have some kind of road accident fund that will allow you to recover your damages. However, it is always best to rely on a car accident law firm to manage the claim process. With

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‘Pay us or we let them die’, private ambulances threaten DOH and RAF

It has emerged that lately private ambulance operators leave patients without medical aid to suffer on accident scenes. People without medical aid could find themselves in the crossfires as scuffles between the department of health (DoH), Road Accident Fund (RAF), and private ambulance operators continue. It has emerged that lately private ambulance operators leave patients without medical aid to suffer on accident scenes as they claim the RAF does not pay the service fees. “Previously, we were able to get paid from RAF by having an accident report case number from the police,” said Mario Booysen, secretary-general of the KwaZulu-Natal region for Private Ambulance Association. “Now the RAF wants us to wait for the full report from the police to be able to get paid, something that takes a long time.” The dispute happens after a voice note of a passerby who witnessed an accident complaining about ambulance staffers who watched patients and left

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Road Accident Fund gets tough on document-less claims

Road Accident Fund gets tough on document-less claims

By Zelda Venter Pretoria – The Road Accident Fund (RAF) will no longer accept claims without a list of required documents such as accident reports. This directive, issued in March, will remain in place, and whoever lodges a claim without the required list of annexures, will be turned away and told to return once all the necessary documents are at hand. This is according to RAF chief executive Collins Letsoalo, adding that there would be no exceptions. Letsoalo said the RAF had a host of “skeleton claims” which could not be finalised as the claim handlers had not received the required documents. To streamline the settlement of claims and subsequent payments to road accident victims, the RAF board under the leadership of Transport Minister Fikile Mbalula embarked on a new strategic path, he said. Central to the strategy was the settlement of claims within 120 days, reducing the average age of

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What’s going on with the Road Accident Fund?

What’s going on with the Road Accident Fund?

NOMPU SIZIBA: The Road Accident Fund, or RAF, is often in the news for the wrong reasons. It’s often said to be insolvent and basically not able to perform its mandated function of financially assisting South Africans who’ve been adversely impacted in accidents on South Africa’s roads. And then there are stories of lawyers swindling the fund for all that they can get. So what is the reality? Well, a study has been done by one Elad Smadja, who is an actuary. He has been looking at the real state of the RAF, and we’re going to speak to him now. He is the CEO of Taurus Capital. Thank you very much Elad, for joining us. Why was the Road Accident Fund specifically created by law and how is its operating model supposed to work? ELAD SMADJA: Thank you very much. The RAF is a unique creature. It’s often portrayed as another

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The hazard lights are flashing for the Road Accident Fund

The hazard lights are flashing for the Road Accident Fund

First published in the Daily Maverick 168 weekly newspaper. The Road Accident Fund (RAF) has made the news for all the wrong reasons over the past decade, with stories of financial mismanagement, non-payment of experts and possible insolvency littering news pages. The crisis is so bad that last week the RAF asked the North Gauteng High Court to bar sheriffs from attaching its properties for failure to pay successful claimants. This was granted, with debts older than 180 days to be paid before the end of this month, and the rest by 12 September. Although some medical experts and attorneys owed money by the RAF are crying foul, CEO Collins Letsoalo says he is determined to pay experts what they’re owed, while cutting costs and rooting out corruption. Speaking anonymously for fear of reprisal, a businessman (Mr X) owns a company that contracts medical professionals, such as orthopaedic and neurosurgeons, who write

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RAF ruling victory for road accident victims, says Mbalula

RAF ruling victory for road accident victims, says Mbalula

The Pretoria high court on Friday ruled on the suspension of warrants of execution and attachments against the RAF. Transport Minister Fikile Mbalula has welcomed a court ruling in the battle between the cash-strapped Road Accident Fund (RAF) and lawyers across the country. The Pretoria high court on Friday ruled on the suspension of warrants of execution and attachments against the RAF. A total of 17 respondents, mostly law firms and sheriffs, were fighting for the right of the public who had made successful claims from the fund to be paid within a reasonable time. In a statement on Monday, the Mbalula said the judgement was a step in the right direction in the government’s efforts to ensure victims of accidents on the roads continue to benefit from the social security net the RAF provides. In handing down its judgment, the court ruled that among others: All writs of execution and attachments

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TQ Group announces partnership with Legacy Africa Capital Partners

TQ Group announces partnership with Legacy Africa Capital Partners

Tech-driven marketing solutions agency TQ Group has announced its partnership with fund managers Legacy Africa Capital Partners, a part of Legacy Africa Fund Managers. The partnership will augment TQ’s illustrious track record as communications custodians, renowned for delivering innovative tailor-made solutions to their clients. New BEE Partners Legacy Africa Capital Partners contribute a wealth of experience from the financial sector. Just like TQ Group, Legacy Africa are distinguished by their ethos that supports socio-economic transformation, especially within the investment and fund management environment in which they operate. TQ Group CEO, Elbé Smith, says that the aligned values of TQ Group and Legacy Africa signals a partnership that will further enhance ROI for clients and squarely position TQ to be Africa’s leader in content creation and scheduling for corporate digital screen networks. As it stands, TQ Group designed and manages one of the largest privately owned screen networks in the world.

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RAF given five months to pay out any claims

RAF given five months to pay out any claims

JOHANNESBURG – The Road Accident Fund now has just over five months to pay out any claims. The High Court in Pretoria has also instructed the RAF to pay out any claims already granted that are older than 180-days or in which a settlement was reached. The deadline for this is the end of April. The fund needs to ensure court orders or written settlement agreements for claims are registered on the its payment list within 30 business days. The RAF’s recent annual financial statement ending March 2020 indicates it has accumulated a deficit of R322-billion. Its total liabilities exceeded its assets by over R300-billion.

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