To meet additional growth in demand for its specialist leasing product, SA Taxi has an on-going financing requirement. Reduced risk appetite in the international and local market meant that an initial round of funding was placed with the DFI community. Through this additional financing, GuarantCo was able to support Absa’s first transaction with the Company. The financing was arranged by Transcapital.
The South African taxi (minibus) industry is estimated at over 200,000 taxis and has created more than 400,000 sustainable jobs directly. The industry is a critical part of the country’s transportation network, especially in the disadvantaged suburban areas, and accounts for over 80% of all public transport trips