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Triodos Funds Provide USD 10 Mil Loan to Bridge Taxi Finance

Triodos Investment Management, a leading impact investment manager, has announced that it has provided a USD 10 million loan to Bridge Taxi Finance, a South African financial services company that provides affordable credit to minibus taxi operators.

The loan is part of Triodos’s commitment to supporting sustainable and inclusive economic development in South Africa.

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Triodos Funds Provide USD Million Loan to Bridge Taxi Finance

Photo by Random Institute on Unsplash

Minibus taxis are a vital part of the country’s public transportation system, but they are often operated by informal entrepreneurs who face challenges in accessing affordable credit.

Bridge Taxi Finance fills this gap by providing a full suite of financial services to minibus taxi operators, including vehicle finance, vehicle repairs and services, and insurance.

The loan from Triodos will help Bridge Taxi Finance to expand its lending portfolio and reach more minibus taxi operators.

Private Equity News Africa

This will in turn help to improve the financial security of minibus taxi operators and their families, and it will also help to reduce congestion and pollution in South Africa’s cities.

Triodos Investment Management’s CEO, Paul de Bruijn, said that the loan to Bridge Taxi Finance was “a great example of how impact investing can be used to make a real difference in people’s lives.”

He added that the loan would “help to improve the lives of minibus taxi operators and their families, and it will also help to make South Africa’s cities more sustainable.”Bridge Taxi Finance’s CEO, Nompumelelo Mbuto, said that the loan from Triodos was “a major vote of confidence in our business.”

She added that the loan would “help us to reach more minibus taxi operators and to provide them with the financial services they need to grow their businesses.”

The loan from Triodos is a significant investment in the minibus taxi industry in South Africa. It is a sign of the growing interest in impact investing, and it is a testament to the important role that financial services can play in sustainable development.

Private Equity News Africa