The taxi industry ensures that South Africans, including the vast majority of the country’s workforce, get to and from their destinations – on time at the lowest cost.
According to the Statistics SA 2013 Household Survey, taxi operators transport over 15 million commuters every day. Children get to and from school every day and adults are able to get to work so that they can provide for their families. Consumables become more accessible and thousands of people are able to attend vibrant stadiums to watch their favourite sports events, support their communities by attending meetings, wedding and funerals and getting to their voting station.
This is the guts of what the Taxi industry has to offer and their taxi operators are pivotal in making this a reality. As a gateway financer, they enable entrepreneurs to start and sustain their own small businesses by catering for all their taxi related needs.
They facilitate insurance that ensures that, if the vehicle goes out of service for any reason within the first six months, the operator is able to pay his next instalment and keep his business going until the vehicle is back in operation – or, if necessary, replaced.
In addition, they provide a rewards programme (Shayela) that gives operators the means to reduce the cost of their vehicle instalments by becoming more effective business people.
They pro-actively and continuously seek ways, such as giving operators access to in-vehicle advertising, to help operators earn extra revenue that can cover the cost of their instalment.
SA Taxi is an independently owned commercial business. It is part of the Transaction Capital group of companies which listed on the JSE in June 2012.
SA Taxi was founded in 1996 and now has more than 950 employees. It is based in Midrand in Gauteng, but has a national customer base.
They focus exclusively on building entrepreneurs through the medium of the taxi industry. Of the estimated 200 000 taxis on the roads in South Africa, SA Taxi finances 28 724.
Because they are not a bank, funded by the amounts in customer accounts, they have to source the money they lend to our clients from, for instance, foreign and local direct investment. However, in the world of international finance, the informal nature of the taxi industry makes it a high risk investment. In order to mitigate their risk the interest rates charged are at a premium and not comparable to other formal banking institutions
Because they are a gateway financer, they generate significant black economic empowerment scorecard points for our investors.
Where is SA Taxi Development Finance