WT Global, led by Libyan entrepreneur Walid Ouhida, has become the largest owner of Y-plate taxis in Malta, according to recent data disclosed in Parliament. The company’s fleet comprises 269 vehicles, marking a significant shift in the competitive dynamics of Malta’s cab service market.
This development is part of a broader trend where digital ride-hailing platforms have transformed the taxi industry. WT Global has diversified into food delivery and hospitality, capitalizing on the growing demand for convenient transportation services. Following WT Global, eCabs, established in 2009, operates 150 vehicles, while Agius Trading, managed by the Agius brothers, possesses 147 vehicles.
The prominence of WT Global underscores the impact of Libyan investments in Malta, especially in tech-driven sectors. Services like Bolt and Uber have changed how taxi services operate, allowing companies like WT Global to offer their services on these platforms, which typically retain a 20% commission per ride.
This shift towards digital platforms has not only democratized the taxi service market but also significantly expanded the fleet of taxis in Malta. From the beginning of 2020 to the third quarter of 2023, the number of registered Y-plate vehicles surged from 2,564 to 4,623. Although this growth has made taxi services more widely available, it has also escalated competition and impacted the earnings of traditional Maltese taxi drivers.
WT Global’s emergence as a leader in Malta’s taxi service industry highlights the transformative role of Libyan investment and the need for regulatory adjustments to balance the introduction of digital platforms with the protection of local drivers’ interests.
