Civil action group Outa says that Sanral’s annual report is riddled with errors and misrepresentations\u00a0–\u00a0most notably, counting unpaid e-tolls as a given in its reporting.<\/p>\n
According to Outa, Sanral\u2019s 2016 financial statements show\u00a0an\u00a0increase in trade receivables from R1.15 billion in 2014 to R4.96 billion in 2015 and R7.66 billion in 2016.<\/p>\n
“Sanral clearly continues to count unpaid e-tolls as an asset on its balance sheet, when all indications point to virtually no hope of recovering this money,” it said.<\/p>\n
Had Sanral accounted prudently and honestly as regards these unrecoverable amounts, it would have been forced to report a far greater loss than the R954 million reported for the 2016 financial year, Outa said.<\/p>\n
“It is also noteworthy that impairment losses from toll and other receivables for 2016 were reflected as being R91.8 million – an implausibly low figure\u00a0–\u00a0suggesting Sanral refuses to acknowledge the large-scale failure of its ability to collect the bulk of e-tolls invoiced, even at the discounted tariffs as they have indicated their figures to reflect.”<\/p>\n
According to Outa, upward of 80% of Gauteng motorists have outright rejected the e-toll system and refuse to pay.<\/p>\n
Between November 2015 and May 2016, Sanral\u2019s Less60 campaign\u00a0–\u00a0offering a 60% discount to encourage Gauteng motorists to adopt e-tolls and settle the R5.9 billion ring-fenced and discounted debt\u00a0–\u00a0recovered only R145 million.<\/p>\n
“Subsequently, Sanral has resorted to issuing summonses to 6,268 motorists – with a combined claim of R575 million – in an attempt to display an ability of enforcement, which they once again falsely believe will bully motorists into supporting their ill-fated scheme,” Outa said.<\/p>\n
“Sanral is clearly deluding itself and its shareholders into thinking legal prosecutions against non-paying motorists will improve its e-tolls collections,” the group said.<\/p>\n
Other concerns<\/strong><\/p>\n Another concern raised from Sanral\u2019s 2016 annual report is the R7.6 billion cost of \u201cstrengthening and improving\u201d 531kms of national roads, Outa said.<\/p>\n “This means road users are paying R14.3 million per kilometre\u00a0–\u00a0not for new roads, but for road improvements, which is exorbitantly higher than international and local benchmarks for work of this nature.”<\/p>\n The group also highlighted that\u00a0Sanral\u2019s debt levels have increased significantly over the last 10 years – from R6 billion in 2007 to R47 billion in 2016 – while the tolled portion of the road network under Sanral management increased by just 500kms to 1,832kms.<\/p>\n “While we know of R22 billion attributed to the grossly overpriced Gauteng Freeway Improvement Project between 2008 and 2012, debt has climbed by an additional R19 billion with very little additional tolled road surface to show for this increased debt.”<\/p>\n Sanral\u2019s 60% e-toll discount failed miserably: report<\/a><\/strong><\/p>\nMore on e-tolls<\/h3>\n