Talifhani Banks: The Township Entrepreneur Behind Spaza Eats

What if the next fintech giant isn’t headquartered in Silicon Valley or Sandton, but emerges from the heart of South Africa’s townships?

South African townships are a melting pot of cultures and entrepreneurial spirit. There are a lot of unsung heroes who emerge out of the dusty streets of townships or kasis with visionary brilliance that defy the economic disparities of where they come from. One such bright spark is Talifhani Banks, an innovative entrepreneur who emerged from the humble beginnings of Louis Trichardt, selling fruit at a train station, to being a tech socio-economic revolutionary.

From an early age, Banks realised that the only way to build economic empowerment in townships is to foster community development by campaigning for digital inclusion. Banks understood that technology cannot exist in the nothingness of the World Wide Web; tech in the real world should meet people’s needs where they are and not expect them to play catch-up. This way, technology can play a pivotal role in levelling the playing field for those in marginalised communities.

Banks’ approach narrows the gap between tech innovation and the growth of the township’s informal economy so that everyone gets a chance to succeed.

From Fruit Seller to Fintech Visionary

As a boy raised in Limpopo by an enterprising mother whom he describes as a “basic survivalist entrepreneur,” he witnessed firsthand the challenges and triumphs of township business life. A pivotal moment came during his matric year when he audited the financial statements of a local maize meal company and discovered it generated R6 million monthly.

That was the spark, but it took a couple of years to ignite while he went on to study Statistics and Econometrics at the University of Pretoria and later, gain experience at major retailers like Pick ‘n Pay and Massmart.

Enter Spaza Eats

In 2017, Banks launched AnalyticsX, a data analytics company whose vision was to help companies learn how to leverage data engineering and machine learning to make informed decisions. The company thrived under his leadership and earned multiple awards, building and strengthening its reputation.

Its success served as a testament that his initial vision of merging data, logistics and FinTech, designed to impact township entrepreneurs, was worth pursuing. So, Banks did what every great enterprising innovator does – he bet on himself and went full steam ahead to realise his vision.

So, What is Spaza Eats?

Simply put, Spaza Eats is a delivery app but with a little extra something. In Banks’ words, “It’s an engine designed to activate township economies.”

Spaza Eats is a platform built to serve the overlooked by connecting township-based food vendors, Spaza shops, small-scale farmers, and other businesses left out by mainstream delivery services. In just 14 months, over 4 500 merchants signed up, going on to serve more than 60 000 customers. That kind of traction speaks volumes about both the demand and the timing. Along the way, Spaza Eats also created over 550 jobs, mostly for scooter drivers trying to make an honest living. It’s more than just a delivery platform; it’s a catalyst for community-powered entrepreneurship.

Forget Uber, if Banks could have his way, this could be the beginning of an Amazon of sorts. Already, there is Spaza Pay, and he has been teasing various ideas like a fashion/art collective. Spaza Eats has collaborated with some notable entities to expand its services and reach. It has partnered with the likes of BP Express, the National Agricultural Marketing Council, and merchants who supply products from Apple, Huawei, Samsung, and Skyworth. In addition to that, Spaza Eats has integrated with businesses like AnalyticsX, SMEgo, and Delivery Ka Speed SA. They are also partnering with a variety of local eateries serving township cuisine, from bunny chows to tripe and sheep’s heads. The kind of local Kasi fare you would be hard pressed to find in Sandton or Sandringham.

So, what now? Because let’s face it: your local spaza shop auntie has been running a cash-only operation for decades, and for them to scale, it may be time to look at technology. However, the township economy might look small and disjointed. A lot of business operators treat their businesses as a side hustle. That is a travesty because the township economy is estimated to be worth R 900 billion. Banks has his sights fixed on tapping this market and is launching Spaza Pay, a Fintech company that would turn every spaza and small business into mini-digital financial hubs, giving the millions of unbanked South Africans a chance to go cashless, access credit, and grow generational wealth.

This is next-level stuff. Talifhani Banks is thinking beyond financial inclusion, but more about financial transformation. He is calling this Spaza Pay. Your local auntie who sells you fresh vegetables at the taxi rank will be able to help you send money, pay bills, and even help with access to your mobile banking.

Banks isn’t just building a business; he’s building an economic blueprint for township entrepreneurship. He is proving that township-based businesses can do more than survive as an informal service but be a thriving concern. For Banks, this is just the beginning – the possibilities are endless, and many of us are watching and rooting for it to succeed.