Our range of professional support and services is further extended to all taxi industry stakeholders with the aim of representing and uniting all interests with respect, dignity and pride. TaxiChoice offers various professional services to stakeholders in the taxi industry, as follows:

Application processing

TaxiChoice ensures a comprehensive and prompt vetting and assessment of application documents according to best business practices and to the benefit of the legal taxi operators. Our aim is to mitigate any risk envisaged for the banking partners:

  • Reduce the perceived risk associated with taxi finance.
  • Prevent fraudulent deals or applications through the vetting process.
  • Assist with the problem of operating licences for all provinces.
  • Ensure optimum finance options to the taxi industry via preferred service providers.
  • Ensure that all taxi owners’ acquisitions are ITAS graded vehicles so that an appropriate vehicle is guaranteed.

The TaxiChoice processing department received on average over 14425 interactions per month for processing from different stakeholders in the banking sector. Applications are processed within the service level agreements with the banking partners:

National average route and verification TAT times
45 minutes
National average operating licence
2 hours
National average pay-out TAT
60 minutes
Consumer protection

We develop and implement a mechanism to choose preferred vehicles and preferred dealers with the aim of protecting the consumer. The procedure of selecting vehicles and dealers is independent and transparent, assisted by Independent Taxi Advisory Service (ITAS).

The ITAS programme was introduced to verify the quality of vehicles and assess if they are economically fit for purpose. This was aimed at vehicles emerging from the Chinese markets in terms of availability of parts, trained technicians, well-es­tablished manufacturing plants with extensive knowledge of the South African motor industry.

Pre-sale service to banking partners

TaxiChoice developed and implemented the risk reduction model, which reduces the risks of the taxi vehicle finance to banking partners. This increases the number of financeable taxi deals.

The TaxiChoice risk reduction role stretches from cradle to grave of the taxi vehicle finance assessment process, the biggest part of which is the scoring and verification of the transaction prior to submission to banks. In summary, this entails verifying, scoring and qualifying of the following:

• All legal documents including the applicants’ operating licenses.
• Operators’ detailed route analysis from our own database (for affordability purposes).
• The applicant’s selected vehicle, the individual applicant and the applicant’s association (in terms of bad debt history).

After-sales service to banking partners

The after-sales process involves assistance to banks and financiers with the tracing of errant clients, collection services on default clients, as well as the refurbishment and resale of the vehicles if repossessed. That means a minimal loss approach to all business partners by introducing seamless innovations that decrease impairments and arrears and ensure that all players remain locked into the taxi mainstream economically viable business model through our Taxiresq division.

Income distribution process

The income distribution process is between the provinces (consisting of regional and local taxi associations) and TaxiChoice. This service is important in de-fragmenting the industry and giving power back to the members.

The industry’s greatest strength is its collective bargaining power, and therefore, TaxiChoice’s strength and impact in the industry and the ordinary member lies in strengthening our ties with the industry via the respective provinces.