The financial crisis the taxi industry is facing threatens to spill over and affect tens of thousands of others in the informal sector, who depend on this industry’s wellbeing

Taxis waiting for commuters at Southgate Mall, south of Johannesburg, 2 April 2020. Picture: Nigel Sibanda

The taxi industry’s descent into the financial dumps is taking nearly a million informal businesses down with it. This according to informal industry trends expert, GG Alcock (author of Kasinomics, 2015), who says the taxi industry’s threats of massive price hikes were understandable, given the government’s lack of support for the informal sector as the economy reels from the Covid-19 pandemic. On Tuesday afternoon, the South African National Taxi Council met with fired up taxi bosses from the Alexandra Taxi Association after it threatened to more than double its fare. Though the council’s spokesperson Thabisho Molelekwa reiterated the illegality of...
 

Article Source: https://citizen.co.za/business/business-news/2299786/taxi-industrys-decline-could-mean-the-end-of-thousands-of-informal-businesses/