Dec 1, 2021

Ithala Taxi Finance Gives Keys To Nine Taxi Owners In Verelum

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Ithala is a registered financial services provider mandated to help ordinary South Africans to manage money and create wealth.

FILE PHOTO: Beneficiaries of Ithala Taxi Finance receiving their taxis as they embark on their journey as taxi owners. PICTURE: Supplied

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DURBAN: Nine taxi owners were beaming with joy as they would be able to support their families through the taxi business.

Ithala SOC Limited closed off the transport month by handing out 9 taxi keys to 9 taxi owners who are under Thuthukani Taxi Association in the Verelum area.

“I’m filled with joy as Ithala was able to help me finance my car through their taxi finance,” said Hlanganani Mkhize who was also handed the car keys of a new taxi on the 26th of October 2021.

“This business was started by my father, we were able to go to school with my siblings through the taxi business and I’m also able to send my kids to good schools and put food on the table because of this business,” Mkhize said.

 Ithala has always been at the forefront in helping ordinary South Africans and people from disadvantaged backgrounds to create wealth and also get out of poverty.

“[The institution] believes in helping ordinary South Africans to create and look after the wealth of their families,” Ithala SOC Limited CEO, Dr. Thulani Vilakazi said.

A pioneer in banking the unbanked in KwaZulu-Natal, Ithala is a registered financial services provider mandated to help ordinary South Africans to manage money and create wealth.

“We have simplified our taxi finance process to make it easier for our clients.

“Our competitive rates are an added advantage to our clients as they make the monthly repayments affordable which is a big deciding factor for clients when deciding where to get finance,” said Vilakazi.

Another beneficiary of Ithala Taxi Finance Mbuyiselo Mdanda did not mince his words for the support he receives from the institution.

According to Mdanda, “We approached several commercial banks for assistance in taxi finance but all of them turned us down.

“We then approached Ithala which had a different approach, offering us taxi finance as an association. The process was quick and easy,” he said.  

Ithala continues to offer clients a hire-purchase agreement to buy a commercial vehicle that will be used to ferry passengers and is properly registered with a taxi industry regulatory body.

“Ithala SOC Limited offers affordable interest rates because we believe that every South African deserves access to affordable banking services,” Vilakazi said.

“The taxi finance service offering provides incredible benefits for an ordinary South African to own a commercial vehicle and pay back the loan over up to 60 months at a competitive interest rate,” Vilakazi concluded.

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