Collins Letsoalo is a seasoned South African public servant and economist, renowned for his transformative leadership in various state-owned enterprises.
Early Life and Education
Born in Ga-Molepo village in Limpopo Province, Letsoalo pursued a career in economics and finance. He holds a Bachelor of Commerce in Economics, an Advanced Diploma in Central Banking, a Diploma in Treasury Management and Trade Finance, and a Postgraduate Diploma in Management (Cum Laude) .
Career in Public Service
Letsoalo’s career began at the South African Reserve Bank, where he held various roles. He later joined the Department of Public Enterprises, contributing to the restructuring of state-owned enterprises. Subsequently, he served as Deputy Director-General: Financial Services at the Department of Transport (DoT) .
In 2016, Letsoalo was seconded to the Passenger Rail Agency of South Africa (PRASA) as Acting Group CEO. His tenure was marked by efforts to implement a turnaround strategy. However, he faced challenges, including allegations of a 350% salary increase, which he denied, attributing his dismissal to uncovering corruption within the organization .
After PRASA, Letsoalo returned to the DoT and was later appointed as CEO of the Road Accident Fund (RAF) in 2020 .
Leadership at the Road Accident Fund
As CEO of the RAF, Letsoalo has been instrumental in addressing systemic issues, including a significant claims backlog. He launched the “Drive Your Claim Forward” campaign to expedite claim processing and criticized legislative provisions that automatically validate claims after 60 days, highlighting their contribution to the backlog .
Under his leadership, the RAF achieved 91.3% of its predetermined targets in the 2022/23 financial year, despite reporting an R8.43 billion deficit. Letsoalo emphasized the organization’s improved performance and audit outcomes, asserting that the RAF is not in crisis .
He has also taken a firm stance against fraudulent claims and unethical practices by certain legal practitioners, advocating for reforms to ensure the RAF serves the public effectivel
Collins Letsoalo’s career reflects a commitment to public service and efforts to enhance transparency and efficiency within South Africa’s public institutions.