Inside Transaction Capital’s taxi trauma
Transaction Capital’s descent has been as rapid as a taxi flying down a highway: from one-time market darling expecting steep growth from WeBuyCars and SA Taxi, its shares have crashed 80% in a year. Is this a speed bump? Or an indicator of a deeper crater in the road ahead?
For Transaction Capital, the past few months have been as hair-raising as a trip down Jan Smuts Avenue during load-shedding. For its investors, you could add to the picture a wheel spanner plugged into the spot where the steering wheel should be.
As the largest funder to the taxi industry — the most widely used form of public transport, carrying 15-million people a day — the fate of the company is of particular importance to South Africa. ..
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