The most popular mode of transport in urban areas for the majority of the South African population is the minibus taxi. The industry is estimated to have a turnover of more than R16,5 billion. It also employs over 400 000 people and there are more than 20 000 taxi owners in the country.
SA Taxi Finance Holdings is an institution that has a core focus on the taxi industry. Forming part of the Transaction Capital Group, SA Taxi Finance competes against mainstream banking institutions. It has made its aims explicit: To target previously unbanked black taxi entrepreneurs with a view to provide flexible financing to these owners.
A number of requirements need to be satisfied in order to be considered for SA Taxi finance:
The applicant must be a member of a recognised Taxi association, have a reasonable credit history, a permanent address, bank account, operate a viable taxi route, provide certified I.D copy, valid Taxi operators licence, proof of residential address not older than 3 months, letter of recommendation from your taxi association and latest 3 months bank statements.
Visit a motor vehicle dealership and request SA Taxi application and route forms. (Alternatively, these can be obtained from the SA Taxi website or by calling 086 182 9448.)
Complete, sign and fax them with a copy of your I.D, along with your operator’s licence to 086 543 7927 or 086 579 9027.
The application will be assessed within 30 minutes and successful applicants will be assisted by the dealer to complete the process, which takes between a day and 5 days to complete.
SA Taxi has branches operating all over the country and views its primary role as an enabler of affordable, safe public transport to an estimated 19 million daily commuters. With an increased focus on providing viable financing solutions for this industry, SA Taxi Finance is fast becoming the institution of choice for taxi finance solutions.