SA TAXI DEVELOPMENT FINANCE PTY LTD
Status: Approved investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
SA Taxi Development Finance was set up in 1998 as a development finance credit provider. It is a focused partner to the minibus taxi industry and is committed to providing leadership in the growth and maturation of the industry. As a partner, it contributes significantly to the financial empowerment of taxi owners who, in turn, create employment for an estimated 400,000 drivers, rank managers and associated service providers. SA Taxi Development Finance is a subsidiary of Transaction Capital Ltd., a South African non-deposit taking financial services group, listed on the Johannesburg Stock Exchange since 2012.
What is our funding objective?
FMO is providing funds, which will be used for finance-leases to operators of minibus taxis and light commercial vehicles in South Africa - a group that is underserved by traditional credit providers. The finance provided by SA Taxi Development Finance is for many people one of the few opportunities to escape poverty and create wealth without a formal education.
Why do we fund this investment?
Through this loan, FMO contributes to safe and affordable transport to commuters in South Africa and to support the creation of sustainable and productive SMEs.
What is the Environmental and Social categorization rationale?
This facility has been categorised as Category C in accordance with FMO’s Sustainability Policy. The leasing activities of the company, which are purely focused on minibus taxis and light commercial vehicles, do not create any exposures in high risk E&S sectors.
More investments
| Date | Total FMO financing |
|---|---|
| 9/21/2020 | USD 15.00 MLN |
| 6/16/2022 | USD 10.00 MLN |
| 2/9/2022 | USD 10.00 MLN |
- Region
- Africa
- Country
- South Africa
- Sector
- Financial Institutions
- Effective date
- 11/27/2018
- Total FMO financing
- USD 11.50 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C