SA National Taxi Council (Santaco) buys 25% of SA Taxi for R1.7 billion

A Quantum minibus taxi. Picture: Supplied.

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

The Money Show’s Bruce Whitfield interviewed Maroba Maduma, Communication executive at SA Taxi, and Thulani Qwabe, Chief Business Development Officer at Taxi Choice.

Listen to the interviews in the audio below.

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