Collins Letsoalo biography, profile, qualifications, scandal, background

Collins Letsoalo​ (born in Ga-Molepo, Limpopo) is a South African Economist and Banker. He is also a Corporate Financier and Financial Markets Practitioner.

He serves as the Chief Executive Officer (C.E.O) of the Road Accident Fund (RAF). Collins has also occupied the position of acting CEO of Cross Border Road Transport Agency.

Profile

Collins Letsoalo​ biography
NameCollins Letsoalo​
BornGa-Molepo, Limpopo
GenderMale
NationalitySouth African
EducationMatric certificate
Economics, B.Com
Central Banking, Advanced Diploma
Treasury Management, Diploma
Trade Finance and CAIB (South Africa)
Management, Post Graduate Diploma
ProfessionEconomist, Banker

Background

He was given the full name Phutjane Collins Letsoalo after he was born in Ga-Molepo village, Limpopo. He underwent training and has qualified as an Economist

Qualifications

The financial heavyweight holds several qualifications. Collins Letsoalo holds the following academic certifications;

  • Matric certificate
  • Economics, B.Com
  • Central Banking, Advanced Diploma
  • Treasury Management, Diploma
  • Trade Finance and CAIB (South Africa)
  • Management, Post Graduate Diploma

Career

Before he joined the Government via the Department of Public Enterprises, he worked at the SA Reserve Bank. At the financial institution, he played several notable roles.

He landed a stint at the Vunani Property Investment Fund. There Collins had to work with Hyprop in building a divested property investment vehicle.

He returned to the public service occupying the position of Deputy Director General (DDG): Financial Services at the Department of Transport.

Collins then spent a total of three and half years at the Road Traffic Management Corporation. During his days there, he helped assist to turn around “what was an ailing entity”.

In July 2016, he received another assignment to the Passenger Rail Agency of South Africa (PRASA).

There, he served as the Acting Group Chief Executive Officer. His tasks were primarily restoring operations including corporate and financial governance.

In March 2017, Collins went back to holding the CFO of the Department of Transport position.

Lately, Collins was seconded to the Cross Border Road Transport Agency of South Africa (C-BRTA).

Following an appointment, he sits as the Chief Executive Officer (C.E.O) of C-BRTA.

Scandal

Collins claimed that his life was in danger following his opposition to wrongdoings at PRASA. This also led to his dismissal because of a newspaper report that has been retracted.

In his words, he got death threats and people were planning to take him out. He further told Radio 702 that he was prepared to die for that and the evidence would be there.

According to him, he had made preparations for “the evidence” to the surface should he be taken out. He was dismissed by the PRASA board after they unanimously voted for his dismissal.

This followed the revelation from Sunday Times that Letsoalo had allegedly increased his salary from R1.7 million to R5.9 million.

Though, he argued that his dismissal wasn’t because of the increase in his salary. He claimed that corruption was hidden by the board.

References

  1. Former acting Prasa CEO claims his life is in danger over ‘hidden’ corruption at Prasa” by Canny Maphanga. News24. Retrieved on 7 June 2021.
  2. Executive Committee“. Road Accident Fund. Retrieved on 7 June 2021.
  3. Speaker: Collins Letsoalo“. Trade With Africa. Retrieved on 7 June 2021. 

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