SA Taxi owner Transaction Capital shakes up board in cost-saving bid

Transaction Capital, the embattled owner of SA's biggest taxi financier, has shaken up its board structures and management in a bid to save costs.

The group said on Friday chief investment officer Mark Herskovits would also take on the role of CFO, with Sahil Samjowan giving up that position and resigning as an executive director.

Co-founder Roberto Rossi will be appointed as an executive director of TransCapital Investments, a special-purpose company with the sole role of issuing bonds. It has also cut its board structure from six committees to three.