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Loan to SA Taxi: Extending safer minibus taxi services in South Africa

Project

Financial services
Minibus-taxis en Afrique du Sud
©SA TAXI
Signature date
Location
South Africa
Financing tool
Loan, Technical assistance
Financing amount (Euro)
8234710
Financing details
USD 10m loan and EUR 100,000 Emergency technical assistance
Customer
SA TAXI DEVELOPMENT FINANCE PROPRIETARY LIMITED
Type of customer
Financial institution
Country of headquarters
South Africa
Project number
PZA1101
Environmental and social ranking
IF-B
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This information is given at the time of signature, without prejudice to any developments in the operation/project.

SA Taxi offers financing to SMEs which own a fleet of minibus taxis. This USD 10m loan in local currency will help the company develop and put into circulation new and safer vehicles for millions of passengers who use these minibuses in South Africa every day.

Client presentation

SA Taxi is a vertically integrated taxi platform utilising specialist capabilities, enriched proprietary data and technology to provide developmental finance and other services to empower SMEs and create shared value opportunities thus ensuring the sustainability of the minibus taxi industry.

For more information, go to: www.sataxi.co.za

Project description

This loan is intended to help the company sustain its growth and continue to put new and safer vehicles on the road to service the millions of commuters who use minibus transport every day. Financing for technical assistance in 2020 will help set up protective measures for drivers and users of minibus taxis during the Covid-19 health crisis.  

Project impact

Proparco’s loan will help the SA Taxi create or sustain approximately 360 minibus taxi SMEs providing approximately 650 direct jobs.

As 100% of SA Taxi’s customers are black-owned and 20% woman-owned, populations who are typically underserved by traditional financiers, this loan will also advance the cause for financial inclusion.

Finally, through SA Taxi’s commitment to replacing high emission vehicles with less emitting ones, CO2 emissions will be reduced.