Transaction Capital, the South African asset-backed lender, posted a 20% increase in headline earnings to R177 million.
This performance is exceeds expectations as of March 31, 2015.
The group includes a division that finances independent SMEs in the minibus taxi industry, and other business divisions including a Risk Management section.
The group grew 15% and reduced the value of their non-performing loans.
Headline Earnings
SA Taxi grew headline earnings by 34% to R99 million because of higher credit quality, buoyant collections, and improved quality of repossessed vehicles produced by Taximart.
Taximart is the business’s service division, and is now one of the biggest Toyota repair centers in Southern Africa.
The success of the hard work is evident because these well managed sections of the business have tighter financial controls.
The systems and automation of the business help them manage risk and keep costs down.
SA Taxi finances bakkies for SMEs
Transaction Capital has allocated huge budgets towards SA Taxi’s introduction of a pilot project to fund bakkies used by consumers for utility purposes.
This opens up a whole new sector for the group to expand, and grow in the finance field and continue to help SMEs.
SA Taxi’s entire lending business platform uses to Acquire Core and Acquire Process Manager from Xpertek.
The debtor management platform and workflow-driven front end products, provides them with a system that can firstly, cope with their complex needs and secondly, simplify their scoring models.
The Xpertek Group
The Xpertek Group is a leading provider of a variety of software solutions. These products help companies automate admin parts of their business.
Our footprint covers to more than 18 countries all over the world. Companies can therefore reduce errors and time spent on admin tasks.
From 2003, our business has grown to meet companies needs for specialised solutions to simplify and automate their systems.
However, our vision remains; to build close relationships with our clients to deliver key solutions to increase their business’s efficiency, productivity and growth
For more information, contact us to see how we can help you save time and be more profitable.
