Sa TaxiSat Taxi
A. Taxi offers taxi financing and insurance for entrepreneurs. S. A. Taxi offers financing to SMEs owning a fleet of minibus taxis.
SA Taxi, South Africa
Mini bus cabs offer about 67% of all trips in South Africa. Small, mid-sized and micro-enterprises, whose owners and managers have little opportunity to obtain official banking credit, dominate the mini-bus taxi sector. South Africa's government has started a program to recapitalize cabs in order to improve the operations and regulations of the hitherto messy industrial sector.
Ensuring adequate funding for owners and operating companies is vital if the authorities are to meet their goal of improving the overall performance and security of the country's mini bus taxi population. GuarantCo sponsors are supporting this SA Taxi project as it has a significant effect on some of the world' s most vulnerable population.
Most of the small bus taxi travellers and owner-operators come from low-income groups and often have a varied loan record. GuarantCo, having sponsored a previous SA Taxi program run by DFI, was then able to meet with one of South Africa's most important business banking houses, Absa Bank. For the first of its kind, Absa injected ZAR 235 million (US$ 23.5 million) into the business to enable SA Taxi to maintain its ability to provide accessible lending to minibuses.
SA Taxi's loan will increase accessibility to safe and cleaner traffic for around 350,000 people. Through the provision of accessible, earmarked funding for mini-bus taxi riders, the scheme will alleviate dependence on non-regulated, costly loan financing. As part of the campaign, the South African mini bus taxi fleets will be improved in terms of service levels and around 1,165 bus and coach owners will have a solid livelihood.
The SA Taxi company will make a contribution to the new financing needs for investments under the State Taxi- Capitalisation Scheme.
S. A. Taxi rides Transaction Capital
Transaction Capital's SA Taxi deal is going strong. For the first six month to March, the mini bus taxi finance provider increased by 16% to R7.8 billion. "Transporting minivans is a non-discretionary effort," he says. That makes SA Taxi a remarkable defense company that succeeds even in difficult economic conditions, says Liam Hechter, Anchor Capital researcher.
SA Taxi saw a loophole that was not closed by the bank and took advantage of this chance. Over 85% of these are covered by SA Taxi, which also operates a car bodies repairs center where more than 220 cabs can be repaired per year. Solely in 2016 SA Taxi followed 1.5 billion kilometres of global positioning system (GPS) covered by its taxi fleets.
The plan is to create an end-to-end taxi management software solution that will give them real-time information about the power of their cars and enable them to better control their businesses. "SA Taxi's non-performing loan ratios rose from 18% in the prior quarter to 17.2% for the first six month of March, while the non-performing loan ratios rose to 3.3% from 3.4% in 2016.
Hurwitz says the figures range from 18% to 28%. S. A. Taxi defined its loan contracts as'developmental', which enables it to calculate higher interest charges under lending law. Hoorwitz says that SA taxi finances people who would not get funding from banking institutions. "By lowering the interest margin at this tier of risks, we could not make a living, or the vast majority would not have easy recourse to funding.
4bn from a number of sources, among them IFIs, in the reporting year, thus meeting its obligations for the 2018 fiscal year. Hurwitz has a surplus of R600 million in liquid assets on its accounts, which it claims Hurwitz will use for complementary acquisition that fits into its current business.
It has been modified to show that interest rate on taxi financing credits varies from 18% to 28%, rather than from 16% to 34%, as mentioned earlier.