Durban — In a bid to empower women and strengthen relations with a KZN taxi association, Ithala Bank has handed over 10 taxis to women and two to men.
The bank, in partnership with Inanda Crossroads Taxi Association, finances the taxi owners and provides them with what it calls a ‘unique finance offering’ to purchase their vehicles.
According to Ithala, the association normally brings together the taxi owners as part of the agreement with the bank to support the taxi industry under the banner of the association.
Ten of the taxis were handed over to Inanda Crossroads Taxi Association owners in Inanda on Tuesday in Durban.
The method allows owners to buy taxis in bulk through the association, using Ithala as a financial provider, and then distribute them among the members, especially women members, as an empowerment tool.
Vice-chairperson of the Inanda Taxi Association, Sipho Sindane, said: “We are very grateful for this ongoing partnership, as it helps to put bread on the table for many families and also assists the taxi owners to develop their businesses.”
Excited taxi owner Nokukhanya Zama received her brand new minibus taxi, thanked the bank and the association, and said the taxi handover would add to her fleet and help her build multiple streams of income.
Ithala Bank CEO Dr Vilakazi said the bank not only teaches ordinary South Africans to save and create wealth, but we also give them tools to create wealth and walk that journey with them.
“This is our commitment to our people. We are here for each and every ordinary South African – our responsibility is not only to keep your money safe, but to also take you step by step in financial growth and development,” Vilakazi said.
Eight minibus taxi owners belonging to the New Germany Taxi Association also received vehicles earlier this month.
This handover revived the relationship between Ithala Bank and the Clermont and KwaDabeka Taxi Association which was established years ago and was known as Phaphama Club.
Daily News