The founders of South African cryptocurrency investment platform Africrypt have disappeared along with $3.6 billion (R51.4 billion) worth of Bitcoin, according to a report….
A new startup, Taxi Live Africa has launched in South Africa and is the first e-hailing service to recognises drivers as potential shareholders.
Taxi Live is offering 40% of their profit share to their drivers
Soft launching on 24 July 2020, Taxi Live is a disruptor to the current e-hailing industry in South Africa. The boundary-pushing startup is the only e-hailing service provider in the country that recognises drivers as potential shareholders. Unlike other leading competitors, Taxi Live Africa is offering 40% of their profit share to their drivers.
Luvuyo Ntshayi, founder of Taxi Live Africa provides insight into why the startup has implemented the opportunity for drivers to become shareholders.
“We believe in socialism and creating real entrepreneurs in our society,” he said.
Currently, other competitor e-hailing services do not offer drivers the opportunity to become shareholders in the business. Since their launch, Taxi Live claims that they “have been very busy with the registration of new drivers signing up with Taxi Live Africa.”
In addition to offering this opportunity to its drivers and promoting entrepreneurship, Taxi Live Africa has reported that it offers a better commission rate for its drivers. According to the startup, drivers will only pay 15% in commission per ride allowing them to earn more for their services compared to other apps.
As a South African startup, it has received praise from local drivers, encouraging other potential drivers to join Taxi Live.
A few posts shared on social media have sene the positive encouragement and excitement of drivers to be able to become an entrepreneur while working with Taxi Live Africa. Offering the opportunity for drivers to become shareholders, Taxi Live Africa is allowing their employees to gain returns from investing their time and cars into the startup.
Taxi Live Africa App
According to the startup, Taxi Live Africa will offer more affordable prices per-kilometer for users.
Utilising a digital platform via an app to provide an e-hailing service to passengers, Taxi Live Africa is currently available in Durban and Johannesburg. The e-hailing startup plans to roll out to other major cities in South Africa.
The app features services such as a ‘wallet’ which can be topped up by either drivers or riders, ensuring that users are able to budget for their trips when using Taxi Live Africa.
Both drivers and riders have access to support 24/7 via the app.
Find out more information about the app here.
Feature image: Supplied