CTU brings fuel cost relief to the taxi industry

CTU brings fuel cost relief to the taxi industry

Johannesburg, 22 April 2021 – In order to provide relief to taxi owners currently affected by rising fuel prices and reduced commuter numbers amongst other factors, CTU has partnered with various fuel retailers to create a first of its kind offering aimed specifically at taxi drivers and owners.

CTU, a specialist insurance underwriting manager for the taxi and bus industries, has announced a fuel relief programme called CTU-FUEL powered by Masana Petroleum Products. The Covid-19 pandemic and consequent restrictions that have instigated to help curb its spread, made 2020 a tough year for every sector and the minibus taxi industry is no exception. More than a year after South Africa first went into lockdown, and even in 2021 many taxi owners are still running at half of their pre-COVID occupancy levels.

CTU policyholders, greater taxi community and interested parties are encouraged to contact their CTU or insurance broker to sign up. Amongst other benefits, CTU-FUEL provides taxi drivers and owners with benefits including:

CTU clients to save up to 70c per litre on Diesel and 13c per litre on Petrol
Clients to get huge savings on operating expenses
Access to electronic fuel management system
An efficient fuel management system that enables programme members to track their deposits, transactions, vehicle consumption and savings.
CTU-Fuel members will also have access to a monthly statement that can be used for tax purposes, and no longer need to keep fuel slips

“As a trusted partner to the taxi industry for almost 30 years, CTU is offering this initiative to assist the industry during these challenging times. The intention is to offer some financial relief to CTU clients, as well as the whole taxi industry, as the savings will ultimately be passed down to commuters. CTU-FUEL is looking into partnering with all leading fuel retailers in the country” concludes Oscar Shabalala, Business Development Consultant at CTU.

About CTU:

CTU is a specialist insurance Underwriting Manager for the Commuter Taxi and Bus industries, providing a range of comprehensive insurance products, benefits and services following incidents of theft, hijacking or accidents. Established in 1991 specifically to cater to the growing insurance needs of the Mini-Bus Taxi industry in South Africa, CTU has become one of the largest providers of insurance to the wider Commuter transportation industry and continue to grow its Bus, e-Hailing, Metered Taxi, Scholar and Staff transport, Shuttle Service and Tourism transport portfolios. CTUs insurance products are underwritten by The Hollard Insurance Company Ltd and reinsured by Hannover Re.

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