MyCiti fuelling BEE projects
Over 60 % of the company running the new N2 express service is owned by two taxi associations.
CAPE TOWN - The City of Cape Town says billions of rands which have been pumped into the MyCiti bus service is fuelling Black Economic Empowerment projects.
Over R6 billion has been invested in the bus service so far.
More than 60 percent of the company appointed to run the new N2 express service is owned by two major taxi associations.
The city's Zara Nicholson says, "Codeta and the route six taxi associations have formed a vehicle operating company with Golden Arrow and signed a three-year with the city which is worth R300 million in order to run the service."
She says the city has also made a capital investment of R200 million in additions to building the infrastructure.