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Texifin (Pty) Ltd. (R11.8 million)

Texifin (Pty) Ltd is a special purpose vehicle (SPV) established in 2009 by Elandsfontein Eiendome CC and the Central Region Transport Co-operative (CRTC) Ltd with the intention of constructing and operation of a Total service station and shopping centre (next phase)in extension 9 of the Lichtenburg township (North West Province).

The CRTC is made up of 793 members (all black) who are individual taxi owners and operators and owns a 51% stake in Texifin (Pty) Ltd. The iMbewu fund was approached to fund the first phase of the Texifin program (the service station). The transaction will result in at least 30 initial jobs and further opportunities once the next phase of Texifin’s strategy is rolled out. The impact will be substantially significant as this is in one of NEF’s priority target investment areas in semi-rural North West Province where unemployment rates are quite high. Also in collaboration with our socio economic development specialist workshops will be conducted to educate the members of CRTC on the benefits of having an ownership stake in the value chain of their taxi businesses among other inititatives.

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