There are good reasons why some companies make the leap from good to great and others don't.
In the business research book Good to Great author Jim Collins writes: “Greatness is a feat few companies manage to either attain or sustain, largely because it is easy to settle for being ‘good enough’”.
He writes further: “However, the principles for making the jump from good to great are timeless and can be used by any organisation that has the knowledge and will to apply them.”
Rising young entrepreneur Talifhani Banks, founder of Spaza Eats and parent company AnalyticsX, refuses to settle for less and appears to have the knowledge and willingness to apply it — the researched method of moving from good to great.
At just 21 months old, Banks’ food delivery platform has already signed up 60,000 customers and 4,500 merchants, competing against giants such as Checkers Sixty60 and Pick n Pay’s ASAP.
Earlier this year Banks launched SpazaPay Wallet as a service solution and point-of-sale machines, positioning the company as a merchant bank for the townships.
More and more shop owners in the townships are signing up to use Spaza Eats and SpazaPay Wallet. Banks is solving township economy challenges and smiling all the way to the bank.
What counts in Spaza Eats’ favour is knowledge and willingness to venture into virgin or untapped markets in townships and rural areas. This differentiates Spaza Eats. Banks is banking on Spaza Eats being strategically positioned to cater to markets often overlooked by larger food delivery companies.
The township economy is a R100bn untapped market with fragmented supply chains, limited access to technology and underbanked entrepreneurs. Less than 30% of spaza shops and restaurants use digital solutions, presenting an opportunity to digitise and formalise these businesses.
“Our deep understanding of the township and rural economies, combined with our tailored approach, gives us a competitive edge in these areas,” he said. “While we recognise the presence of established players in the industry, our focus remains on delivering value to communities that have historically been underserved. By doing so, we not only differentiate ourselves but also create opportunities for local entrepreneurs to thrive.”
But Banks isn’t stopping there. His vision? A nationwide rollout by June 2025, followed by expansion into Kenya, Nigeria, Rwanda and the Democratic Republic of Congo. Spaza Eats now operates in Gauteng, Cape Town, Limpopo, Durban, Rustenburg, East London and Mbombela.
Banks, born in the small Limpopo town of Makhado, understands something most entrepreneurs miss: greatness isn’t about resources, it’s about resourcefulness. While others chase venture capital funding, he’s bootstrapping Spaza Eats, relying on internal cash flow and strategic partnerships.
Banks is even eyeing the government’s R500m spaza shop stimulus fund as a potential accelerator. “Our expansion has been primarily driven by internal resources,” he said. “We haven’t raised external funding yet.”
That’s the kind of discipline and long-term thinking Collins describes as the hallmark of truly great companies.
Spaza Eats isn’t just another delivery app and Banks isn’t just building a food delivery service. He’s engineering an ecosystem of a “Township Amazon” comprising SpazaPay Wallet (financial inclusion for townships), Spaza Capital (funding for small businesses) and a franchise model for pan-African scaling. These initiatives were designed to provide financial solutions tailored to the unique needs of township businesses and residents, further solidifying AnalyticsX and Spaza Eats’ role as a catalyst for economic empowerment.
“While we recognise the presence of established players in the industry, our focus remains on delivering value to communities that have historically been underserved,” Banks said. “By doing so, we not only differentiate ourselves but also create opportunities for local entrepreneurs to thrive.”
Banks embodies what Collins calls “the conscious choice of greatness”. While others see obstacles, he sees untapped markets, systemic gaps and opportunities to empower. “Embracing a billionaire mindset means daring to envision a future beyond the ordinary, committing to long-term goals and understanding the profound impact that wealth can have on our communities,” he said. “As I embark on this journey towards greater success, I am committed to thinking big, playing the long game and contributing to a prosperous Africa.”
The lesson for young entrepreneurs: solve real problems, don’t just chase trends. Grow smart, not just fast — sustainability beats hype. Own your market: Banks dominates townships because he understands them better than corporate giants.
SA’s next unicorn might not come from Sandton’s established businesses. It might come from a Makhado kid, now based in Sandton, who saw potential where others saw poverty and a market perceived as being unsafe to operate a digital platform.
Banks’s Spaza Eats is now becoming a formidable player through servicing areas previously neglected by SA’s big business. As a result, Checkers Sixty60, the on-demand grocery delivery service, has launched at the Shoprite Jabulani store in Soweto. The delivery service is now available at other Shoprite locations, including Atlantis and Kleinmond in the Western Cape, and Shoprite Kriel in Mpumalanga.
As Collins puts it: “Everyone in the world has their unique set of irrational and difficult constraints. Yet some make a leap while others, facing the exact same environmental challenges, do not. Greatness is primarily not a function of circumstance. Greatness, it turns out, is primarily a matter of conscious choice and discipline.”
Banks has made his choice. Have you?
• Lourie is founder and editor of TechFinancials.
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