Mpumalanga taxi boss Joe "Ferrari" Sibanyoni has denied pressuring Putco to sell its bus fleet after 51 of its buses were torched at three depots in KwaNdebele, Mpumalanga. The incident occurred on January 27, 2025, and Sibanyoni's interest in buying the buses came under scrutiny at the Madlanga Commission of Inquiry. Sibanyoni faced questions about his dealings with the taxi industry and Putco in the area, with the commission hearing that he had met President Cyril Ramaphosa and minerals and energy minister Gwede Mantashe in January 2024.
During the meeting with Ramaphosa and Mantashe, Sibanyoni raised concerns about the red tape preventing local businesses from getting opportunities to work with Putco. He told the meeting that local businesses should be given a chance to work with the bus company, saying, "When you find someone wanting to interfere with Putco business, you must know it is us. Don't put red tapes." The commission heard that Sibanyoni's company, Taxichoice, approached Putco with a written offer to buy the bus company a month after the fire attacks.
Sibanyoni denied any involvement in the attacks on Putco, pointing to the registration numbers of the taxis captured in video footage presented to the commission. He claimed that the taxis in the footage were registered in Mpumalanga, while his taxis carried Gauteng and Limpopo registration numbers. The commission heard that Putco recorded more than 350 incidents between October 2024 and January 2025, in which its buses were allegedly blocked from operating by taxi operators.
The torching of the buses on January 27, 2025, was a major blow to Putco, with 51 buses torched at three of its KwaNdebele depots in one night. A video shown at the commission revealed that it took the attackers less than 10 minutes to hold security guards at gunpoint and torch 16 buses at Putco's Moloto depot. Sibanyoni distanced himself from the attacks, but 36 hours after the fire, he sent a text message to his associate, Bafana Sindane, saying he wanted to purchase Putco buses via bank financing.
In his supplementary statement, Sibanyoni suggested that the possibility that Putco had torched its own buses should be investigated. He claimed that there was a prevailing theory that Putco had torched its own buses in connection with labour and industry disputes at the time. However, chief evidence leader Adv Matthew Chaskalson dismissed this suggestion, saying there was no recorded labour dispute prior to the incident.
Putco raised concerns about the timing of Taxichoice's approach, telling the taxi operators that the company was not on the market. However, it said any bona fide interested party would have to meet stringent financial conditions before any further discussions could take place. These included a non-refundable R100m deposit to Putco shareholders and a minimum R2bn cash guarantee from a reputable finance house accredited by the Financial Sector Conduct Authority.
The chronology of events prompted Chaskalson to question whether the attacks on Putco had followed difficulties in securing the proposed 30% local stake and whether they were intended to pressure the company into selling. Sibanyoni rejected the suggestion, saying, "I differ with your findings, and if you understand it differently, it's unfortunate." The sale never materialised, and Sibanyoni was appointed as a director of Taxichoice in the same month that the company approached Putco.
Key points
- Joe "Ferrari" Sibanyoni denies involvement in torching 51 Putco buses.
- Sibanyoni approached Putco with unsolicited offer to buy fleet 36 hours after fire attacks.
- Commission hears that Putco faced sustained pressure from taxi operators, with over 350 incidents recorded between October 2024 and January 2025.
