Publications
Partners
Johannesburg - Recent empowerment deals have helped the taxi industry become a key player in the economy, Transport Minister Sibusiso Ndebele said on Monday.
"We are... proud that recent empowerment deals are testimony to the fact that real economic empowerment and transformation of the taxi industry is no longer merely a cliché, but is fast becoming a reality," he said.
One such deal is the Free State government's Maluti Bus Service transformation process.
"To date, about 148 former employees have received R40 000 each and payment to the remaining beneficiaries is expected to be finalised by the end of March 2011."
Through its shareholding in Maluti Bus Service (MBS), the taxi industry has accumulated about R9m.
This money is to be reinvested in the MBS to buy a new fleet of buses, the minister said.
"Taxi operators are to acquire a decisive and quantifiable benefit in this process, and equally strike a balance in the viability of the business and the financing thereof."
Ndebele said the transport department handed over Phase 1A Bus Operating Company of the Rea Vaya Bus Rapid Transit system in Johannesburg to taxi industry shareholders in February.
The contract was valued at about R184m a year.
"These and other empowerment initiatives within the transport sector indicate that we are certainly moving in the right direction towards ensuring that the taxi industry becomes part of the mainstream economy."
Ndebele said the taxi industry makes up 64% of commuting services in South Africa and is the biggest black-owned industry.
"To this end, we welcome the South African National Taxi Council's (Santaco's) TR3 2020 strategy for the redefining, restructuring and repositioning of the industry till 2020.
"A vibrant taxi industry that shares the vision of transformation in improving public transport, in addition to bus operators and passenger rail operations, is what is needed in our country," he said.
"We are... proud that recent empowerment deals are testimony to the fact that real economic empowerment and transformation of the taxi industry is no longer merely a cliché, but is fast becoming a reality," he said.
One such deal is the Free State government's Maluti Bus Service transformation process.
"To date, about 148 former employees have received R40 000 each and payment to the remaining beneficiaries is expected to be finalised by the end of March 2011."
Through its shareholding in Maluti Bus Service (MBS), the taxi industry has accumulated about R9m.
This money is to be reinvested in the MBS to buy a new fleet of buses, the minister said.
"Taxi operators are to acquire a decisive and quantifiable benefit in this process, and equally strike a balance in the viability of the business and the financing thereof."
Ndebele said the transport department handed over Phase 1A Bus Operating Company of the Rea Vaya Bus Rapid Transit system in Johannesburg to taxi industry shareholders in February.
The contract was valued at about R184m a year.
"These and other empowerment initiatives within the transport sector indicate that we are certainly moving in the right direction towards ensuring that the taxi industry becomes part of the mainstream economy."
Ndebele said the taxi industry makes up 64% of commuting services in South Africa and is the biggest black-owned industry.
"To this end, we welcome the South African National Taxi Council's (Santaco's) TR3 2020 strategy for the redefining, restructuring and repositioning of the industry till 2020.
"A vibrant taxi industry that shares the vision of transformation in improving public transport, in addition to bus operators and passenger rail operations, is what is needed in our country," he said.
