Gauteng government mulls establishing a bank for the taxi industry

01 July 2016 - 10:19 By Kingdom Mabuza

The Gauteng government is planning to help taxi operators to be self-sufficient. As a starting point‚ the government plans to establish a bank‚ spare parts shops and panel-beating workshop for the industry‚ Gauteng MEC for Economic Development Lebo Maile told operators during a taxi indaba in Johannesburg.“We want to look at the entire value chain. As government we want to know who is financing your businesses‚ how can we possibly look at establishing a cooperative bank of the taxi industry.“We would want to work with you and establish that cooperative bank which will make it easy for the operators to access finance‚ not just for buying taxis.“We are also concerned about things like when your car is involved in an accident - who panel-beats them - because that is a huge industry which is dominated by monopoly. We want to break that back of monopoly. We are not only interested in giving you permits to operate‚ but we also interested in the whole value chain.”Maile also said the industry must organise itself so that it could start reaping some of the economic benefits yielded by projects such as Gautrain...

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