A taxi boss was gunned down while transporting his son and two other children to school in Verulam, north of Durban, on Wednesday morning.

Prem Balram, director of private security company Reaction Unit SA, said security officials found three hysterical children, aged 13, 11 and 8, near the bullet-riddled vehicle on Old Main Road.

"At approximately 07:12am a motorist drove to RUSA offices in Verulam reporting multiple shots being fired at a white Toyota Fortuner. RUSA members responded to the scene and upon arrival found three hysterical children approximately 40 metres away from the bullet-riddled SUV," he said.

Paramedics assessed the man and found that he had sustained multiple gun shot wounds to his head and body.

"Due to the extent of his injuries he died at the scene," Balram said.

Witnesses told RUSA that the Toyota Fortuner was approaching the single lane steel bridge when a red VW Polo stopped next to it.

"The occupants of the VW Polo then opened fire at the driver before the gunmen sped off towards the Verulam CBD," Balram said.

The children, who were being transported to Crawford College, were seated behind the driver and were not injured.

"Approximately 21 9mm spent cartridges were recovered at the scene. The motive for the shooting is unknown at this stage," Balram said.