Creecy was speaking at the transport sector engagement session hosted by the Department of Trade, Industry and Competition on the proposed transformation fund.

The initiative aims to support Black-owned businesses across various sectors and is supported by the Integrated Transport Sector B-BBEE Charter Council.

The minister suggests using the fund as a vehicle to help support the formalisation of the taxi industry, given that it is already majority Black-owned.

“One of the deep concerns that I have shared with the industry is that individual operators cannot make a decent living because the bulk of what they are paying is for repayments on the taxi recapitalisation process.”

--SABC--