Hon Speaker, the ANC-led government believes in forming partnerships with relevant stakeholders in order to promote safe and affordable public transport as a social service.
On Wednesday, 30 September 2009, emerging taxi operators received a major breakthrough when banking group Absa and the Industrial Development Corporation, IDC, announced a R300 million deal to boost the industry. Absa has undertaken to provide money to fund emerging taxi operators and black entrepreneurs wishing to enter this highly competitive industry. The arrangement will also allow taxi operators to scrap their old taxis in favour of legal and compliant minibus taxis.
The ANC supports this initiative and sees it as part and parcel of accelerating the implementation of the Taxi Recapitalisation Project, which is about the improvement of the quality, safety and sustainability of this crucial component of public transport. I thank you. [Applause.]