The drivers, who were members of the Gauteng taxi association, were in a minibus driving from Kwa-Zulu Natal to Johannesburg when the gunmen launched an ambush and opened fire.
Video taken after the attack shows the minibus riddled with over 300 bullet-holes. Blood is shown seeping down from one of the windows.
Journalist Zama Mvulane, who shared the video on social media, said: “KwaZulu-Natal continues to be a slaughter house of mass brutal murder and utter disregard of human life!
“Eleven taxi drivers on this mini-bus, which is riddled with over 300 bullet holes, perished and the killers are most likely never going to be found! “
Police confirmed 11 people have died and four have been injured. Two survived the attack without sustaining injuries.
A spokesman for the local force said: “There was a shooting at about 8 pm [1800 GMT] last night. The vehicle was ambushed. There were 11 fatalities and four were seriously injured and are in hospital.
“We understand they were from the Gauteng taxi association. There has been a lot of taxi violence in the area but we are still investigating who the perpetrators were.”
Minibus taxis are the most popular form of transport in South Africa and violence is common by rival groups vying for dominance on profitable routes.
Police said a 72-hour action plan was now in force to find the killers.
South Africa’s parliament has also spoken out, with a cross-party committee tasked with dealing with taxi-related crime warning: “We therefore cannot allow a small group of criminal syndicates to hold the taxi industry at ransom.
“We will act decisively and punish harshly those who continue to perpetuate these senseless acts of lawlessness.”