SA Taxi is trying to convince lenders to restructure its debt. (RapidEye/ Getty Images)
SA Taxi, the minibus taxi financier owned by JSE-listed Transaction Capital, is still locked in negotiations with lenders about a long-term debt restructuring solution.
Its interim results for the six-months to end-March stated that SA Taxi has obtained covenant waivers until the end of June to allow for a debt restructure. Transaction Capital CFO Mark Herskovits then also warned in May that this meant the business only had a few weeks before it had to cease disbursing loans altogether and potentially operations overall.
Herskovits told News24 on Friday that SA Taxi was operating normally after agreeing to a short-term funding solution with lenders.
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