Taxi boss Joe Sibanyoni has denied using violence to pressure the owners of bus company PUTCO into allowing him and his associates to buy the company.
The allegation emerged in a letter read out at the Madlanga Commission, in which the company questioned the timing of Sibanyoni’s unsolicited offer to purchase PUTCO, which was made shortly after the company had experienced violent attacks on its employees and fleet.
In a letter responding to an approach by Sibanyoni’s company, a PUTCO official raised concerns about the timing of the unsolicited offer, saying it coincided with “the most heinous attacks on our employees and fleet”.
The letter stated that PUTCO was not for sale and that, should the company ever be sold, a non-refundable deposit of R100 million would be required, along with an assurance from an accredited financial services provider that the prospective buyer had access to at least R2 billion in credit.
“It says, Dear Mr Chapman, with reference to your letter dated 25 February 2025, received on 26 February 2025 via email, the timing and content of your letter appears to be disturbingly calculated in light of the recent carefully orchestrated and heinous attacks on both PUTCO’s employees and fleet of buses.
“At the outset, PUTCO is not on the market.”
Evidence Leader Mathew Chasckolson said the letter appeared to suggest that the approach had not been previously discussed because of the concerns raised about its timing.
Sibanyoni urged him not to leave out the latter part of the letter, which detailed the requirements that would have to be met if PUTCO were to be sold.
PUTCO’s staff and operations came under heavy attack in 2025, with Sibanyoni making his approach shortly afterwards, a move the company deemed suspicious.
Sibanyoni has denied having any links to minibus operators who were captured on camera attacking and stopping PUTCO buses around the same period.
Sibanyoni also produced a reply to PUTCO in which he explained that he had approached other transport companies, including airlines, rail operators and bus services, about potential investments.
“In light of the unusual comment in paragraph 2 of your letter, I would like to clarify that we sent similar correspondence to the following companies: FlySafair for a stake in aviation, Section Rail Services for a stake in rail services, Autopax for a stake in or the whole of Autopax as a going concern, North West Transport Investment (NTI) for a stake in or the whole of NTI as a going concern, and Great North Transport (GNT) for a stake in or the whole of GNT as a going concern,” Sibanyoni said, reading from the reply sent to PUTCO in 2025.
The businessman has faced questions over demands for shares and/or a portion of profits in various companies as part of what has been described as “local content”. Evidence before the inquiry has suggested that he, along with associates including his close friend Bafana Sindane, was involved in extorting businesses through what has come to be known as a “protection fee”.
The allegations remain subject to the Madlanga Commission’s findings.