RTMC CEO recalled

Johannesburg - The Road Traffic Management Corporation's (RTMC) acting CEO Collins Letsoalo has been recalled to his previous position as chief financial officer (CFO) for the department of transport.

This was confirmed by the transport ministry on Tuesday.

"The department confirmed the challenging situation the prolonged absence of Mr Letsoalo has had," it said in a statement issued on behalf of RTMC's shareholders.

"The department stated that it was not conducive that a department should function without a CFO for such a prolonged period."

It said the RTMC shareholders' committee would announce an interim CEO soon, and that the recruitment process for a new CEO was underway.

Letsoalo said on Monday that the RTMC had 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," he told reporters in Pretoria.

"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 R200m," he said.

However, the current financial figures showed that the RTMC was in a better position.

In April, shareholder committee members of the RTMC wanted it shut down for failing to fulfil its purpose.

However, it decided at a meeting on Friday to rescind the decision.