Minibus taxi financier Transaction Capital said the involvement of the taxi industry association has opened growth opportunities for the business. Transaction Capital, which delivered double digit growth in half-year profit, said the partnership with the SA National Taxi Council (Santaco) was already delivering benefits to both parties, allowing the company to reach new markets. 

Santaco acquired a 25% stake in Transaction Capital’s minibus finance and insurance business, SA Taxi, for R1.7bn in 2018. The other shareholders at SA Taxi are the parent company Transaction Capital, which owns 74%, and SA Taxi CEO Terry Kier, who owns 1%. The biggest shareholders at Transaction Capital are its directors, who own 32%. Transaction Capital CEO David Hurwitz said with Santaco’s help the company can start competing with traditional vehicle financiers.

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