Lender to taxi industry posts record loss

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Power cuts, rising petrol prices and fewer commuters are squeezing the taxi industry.

The tight economy is making it harder for taxi owners to service debt they owe to SA Taxi, which together with WeBuyCars, falls under Transaction Capital.

The company says it will now restructure by reducing the number of vehicles to be refurbished and refinanced, and finding other channels to sell repossessed vehicles.

 

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