The establishment of such a bank could be one of the most pivotal discussion points to be had at next month’s National Taxi Lekgotla.
“In principle, we are for the establishment of the bank, primarily because we have always wanted to have some form of a well-established and well-grounded bank for the industry,” he said. The bank will, over time, build on other products and services to ensure that operators are able to work and grow.“In as far as what the bank should do, our view is that it must be able to speak to the operational needs of the taxi business. Collectively, as the taxi industry, we give banks about R2.3 billion a year just on vehicle financing, but the industry still continues to pay high interest rates.
“Coming back from the lekgotla, we should hit the ground running in working tirelessly to get the bank established as soon as possible,” he said. This is a matter that as government we must pay urgent attention to,” he said, adding that “associations remain unregulated and operators are not held accountable for their conduct through effective law enforcement”.
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