The South African National Taxi Council (Santaco), the Western Cape government, and the City of Cape Town have thrashed out their issues during a three-day taxi task team "imbizo" held this week.
The imbizo started on Monday and concluded on Wednesday.
In a joint statement, the provincial government, Santaco and the City said the imbizo had culminated in a signed agreement that safeguarded commuter safety and outlined a clear process for continued cooperation.
"All parties sat for three days to systematically work through the enforcement consequences for each operating licence condition that we committed to collectively review," the statement reads.
"The National Department of Transport was also included in this process. Through extensive consultation and earnest deliberation, we have found common ground on what are fair and rational consequences for most of the operating licence condition transgressions."
They added that there was "mutual priority to address fundamental challenges in the transport sector and deliver functional, reliable, safe mobility for commuters".
"We have committed to completing this task within a four-week period, starting today (31 August 2023), and will redouble our efforts to find common ground on the outstanding points of disagreement."
Santaco staged an eight-day strike earlier this month in response to the City impounding dozens of vehicles over a range of infractions, including number plates not being displayed.
In a brief statement released on Wednesday evening, Santaco spokesperson Nceba Enge said: "The Minibus Taxi Task Team's (MBTTT) three-day 'imbizo' has culminated in an agreement to ensure stability for commuters.
"Over the three days, the MBTT found common ground related to operating licence conditions. All parties have committed to a four-week period to meaningfully complete this task."
On Monday, News24 reported that the City planned to sue Santaco for damage caused during the eight-day stayaway.
Mayor Geordin Hill-Lewis said that all departments had been requested to provide an estimate of the damage.