Internet-based taxi service, UBER, has signed a deal with Wesbank worth R200 million.
Wesbank will provide vehicle finance to drivers based on their performance as rated by UBER users, instead of their credit status.
UBER's General Manager for Sub-Saharan Africa says it's part of the company's vision to have 15 000 operators within the next 2 years.
Alon Lits sees the deal as a way to create entrepreneurs, and claims UBER's opponents don't have the drivers' interests at heart.
Meanwhile, the National Taxi Council has warned that taxi turf wars may increase, if more UBER taxis are put into circulation.
Earlier this year, more than 200 taxi drivers, affiliated to Uber, had their vehicles impounded in Cape Town for not having the necessary papers.
Many of the drivers have since been awarded permits.
But, metered taxi drivers have complained that Uber's been eating into their profits.
SANTACO's Phillip Taaibosch.
"Taxi operators, especially in the Western Cape have been fighting for many years to get their operating licence, especially the small vehicles. Here comes UBER who could be somewhat government related or a very rich organisations coming into the country, being given privileges" he said
