Police spokesman Jay Naicker said on Sunday the drivers were on their way home from the funeral of a colleague on Saturday evening when their vehicle was ambushed in KwaZulu-Natal province.
The drivers, who were members of the Gauteng taxi association, were in a minibus driving along the R74 when unknown gunmen launched an ambush and opened fire.
South African news site News24 quoted Naicker as saying the police taxi violence unit had been dispatched to the scene of the shooting.
The attack happened between the towns of Colenso and Weenen in the east of the country, and the victims were from Gauteng province.
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He added that police did not want to speculate on the motive for the attack.
The day after, the Alexandra, Randburg, Midrand and Sandton Taxi Association chairperson Themba Sam Budza and member Fani Ramatfwane were shot dead in Marlboro, Sandton.
Transport Minister Blade Nzimande said South Africa has seen a spate of taxi-related violence and killings by rival groups "and government, through the security cluster, has decisively intervened to deal with these senseless killings".
National police spokesperson, Brigadier Vish Naidoo, said four people were critically wounded and were recuperating in hospital.