Banks will offer ‘appropriate financial relief’ to taxi industry: Fikile Mbalula

The banking sector is coming to the aid of the struggling taxi industry, transport minister Fikile Mbalula said on Thursday.
Image: Via twitter/@Fikile Mbalula

The banking sector is coming to the party in terms of aiding taxi owners who have  suffered during the coronavirus pandemic.

This is according to transport minister Fikile Mbalula, who said on Thursday that meetings the ministry had with the taxi industry and banks had been fruitful.

“We have held productive engagements with the Banking Association South Africa on further relief measures they can extend to the taxi industry. We are happy to indicate that the banks have been responsive to our proposals to provide appropriate financial relief,” he said.

“Individual banks have their own procedures and measures in place and will make appropriate pronouncements in this regard.”

This comes after the taxi industry accused the government of not offering enough support during the lockdown, where many in the taxi industry have suffered significant losses.

During lockdown levels 4 and 5, taxis were not permitted to operate at full capacity, being compelled to only transport passengers at 70% of capacity. This has since been reversed for taxis making local trips.

The 70% cap is now only in place for taxis traveling on long distance routes.


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