Transaction Capital says SA Taxi funding runway 'down to a matter of weeks'

Transaction Capital says its troubled SA Taxi business has only a few weeks of available funding left before it has to cease disbursing loans altogether and potentially cease operations.

The group, which recently unbundled WeBuyCars by separately listing it on the JSE partly to reduce debt, made the revelation in its interim results presentation for the six months to end-March 2024. Transaction Capital's half-year results showed core earnings per share from continuing operations slumped more than 100% to a per share loss of 186.9 cents.

The group's basic loss per share from continuing operations fell 20.7% to 178.3 cents, compared to 224.9 cents in the prior corresponding period, while the headline loss per share also improved, decreasing by 26.6% to 164.9 cents.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.

Mark Herskovits Interim Results

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