The South African National Taxi Council (Santaco) has acquired a 25% stake in SA Taxi through, what it calls, a “unique and transformational ownership transaction”.
Transaction Capital is the owner of SA Taxi.
SA Taxi provides financial and other services to minibus taxi operators.
It also rebuilds, re-sells, refinances and insures pre-owned minibus taxis, providing taxi operators with access to a more affordable but still mechanically-robust alternative to a new minibus taxi.
SA Taxi’s short-term insurance business is the primary driver of non-interest revenue, growing faster than the vehicle financing business.
SA Taxi insures more than 85% of its financed clients.
At the core of our business model is a commitment to support an entirely black-owned industry which has developed without government subsidy into the most critical component of the South African integrated public transport system.— David Hurwitz, Transaction Capital
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