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Apple Commuters Finance Assignment
COMPANY HISTORY
Executive Chairwoman of Apple Commuters Kathy A always dreamed of working on computers. In the early 1970’s – she enrolled for a computer course at LamDin in Johannesburg with a view to making that dream a reality. Kathy then lived in the sprawling township of Alexandra and transportation to and from Johannesburg CBD was having an adverse impact on her studies. Little did she realise that this frustration would change her career path and her life forever. “I was shocked at the quality of public transportation in Johannesburg. I spent four hours a day commuting to and from the city. It was ridiculous – something had to be done about it!”
From humble beginnings Apple Commuters has evolved into one of South Africa’s most well known and well-respected group of transport companies. It boasts the largest taxi fleets in the country with branches in all major centers.
The company was started about 27 years ago with a vision of meeting the needs of commuters expediently. “Safety, reliability and punctuality were our main focus”, says Kathy as she reminisces about those simple days. “We’ve come a long way from our first vehicle – a Chevrolet 3800 that was bought for cash”
Alex B had been making similar inroads into the field of transportation around the same time. He had worked his way up to head the Northern Suburbs Taxi Association – a key position with good insight into the industry.
By 1976 – the newly formed partnership were already operating with two taxis doing about 25 trips a day combined.
December 1978
The company doubles its fleet to 4 vehicles whilst streamlining operating costs.
March 1980
The company follows closely with the rapid expansion of the greater Johannesburg and covers new routes in the North East region.
COMPANY HISTORY (continued…)
February 1981
Apple Commuters acquires a small operation in Durban headed by Avi E. A further 12 taxis are added to the already expanding fleet. Routes between Durban and Johannesburg are explored – a first for light commercial vehicles.
September 1985
Branches in Port Elizabeth and Bloemfontein were launched and the fleet was now in excess of 50 vehicles. Simon D and Craig F – owners of a successful auto repairs business decided to tap into the transport industry and bought into Apple Commuters.
August 1990
Establishment of National Taxi Repair Centres (Apple Eishh Fix-It Services) with a view to driving down operating costs and maximising on profits.
May 1993
New Head Office and Truck Centre built in Ormonde.
November 1995
Apple Commuters is the largest privately owned taxi company in South Africa.
March 1998
For R15m Apple Commuters purchases FBI Transport and acquires the skills of Paul C.
January 2000
Apple Commuters receives gold-partner status with major manufacturers Toyota, Nissan and Ford securing a combined fleet of 531 taxis.
CHAIRMAN’S REPORT
“We continue to transform Apple Commuters into a broad-based transport business, offering the widest range of service and coverage with the best [next page]