Taxi financier Transaction Capital is set to buy a non-controlling stake in used-vehicle retailer WeBuyCars for R1.84bn, the company said on Tuesday.

Transaction Capital CEO David Hurwitz said the company’s investment in WeBuyCars will boost earnings and that it is an exceptional opportunity to own a significant stake in a trader of used vehicles. In SA, there are 10.8-million new and used passenger vehicles in circulation. ..

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