Transaction Capital, lender to taxi owners, plunges as it forecasts losses
Transaction Capital has found itself in the wrong place at the wrong time — financing minibus taxis amid rocketing fuel prices and a stagnant SA economy.
Transaction Capital has found itself in the wrong place at the wrong time — financing minibus taxis amid rocketing fuel prices and a stagnant SA economy.
Since David Hurwitz took over as CEO in 2014, Transaction Capital’s share price has delivered compound annual growth of 24.2% for shareholders.
Toyota SA, several major car dealerships and four banks are amongst the defendants in a multi-billion rand class action just launched.
SA Government plans to formalise the country’s lucrative private minibus taxi industry in hopes of improving road safety.
Taxi drivers are filling seats and hoping for the best, sayin that Covid-19 is spreading fast and “there’s nothing we can do about that”.
Futuregrowth Asset Management has provided funding in the amount of R300 million into the taxi industry. David O’Sullivan spoke to Gerswhin Long regarding the project.