South African food delivery platform Spaza Eats has undergone a major transformation, officially rebranding to Spaza Market as it shifts from a single-service app to a comprehensive digital marketplace.
The move aims to fast-track the development of a new digital economy within the country’s townships.
But what was the core strategic reason behind this significant shift in identity and business model?
Entrepreneur Talifhani Banks, founder of Spaza Eats and parent company AnalyticsX, told TechFinancials that the rebrand to Spaza Market was about scale and vision.
“While Spaza Eats successfully solved for food and groceries, we recognised that the true opportunity lies in powering medium enterprises and emerging markets with digital infrastructure,” he stated.
“By evolving into a marketplace, we are building an ecosystem that serves SMEs, corporates, and township traders alike — enabling them to transact, grow, and access financial tools in ways they’ve never been able to before.”
He emphatically concluded, “This is not just a name change; it’s the start of Africa’s new digital economy.”
The Marketplace Advantage
Why was becoming a “marketplace” so crucial for the company?
Banks attributes this pivot to the need to unlock massive scale and potential.
“We saw that a single-vertical delivery model limited our reach,” he said. “A licensed marketplace allows us to integrate SMEs, service providers, and township businesses into one ecosystem.”
“This shift opens doors to digital payments, peer-to-peer wallets, lending, and new categories of commerce. In essence, it moves us from being a service app to being the operating system for emerging markets.”
Founded in June 2023, Spaza Market is also morphing into a merchant bank, fulfilling Banks’ vision to evolve the original concept into something far greater: a “Township Amazon.”
This ambitious model integrates point-of-sale (POS) machines, wallet-as-a-service, and loans for merchants and riders directly into its app.
The rebranding solidifies this expansive vision.
Further expanding its services, the company recently unveiled Spaza Parcel, a new service that empowers individuals and businesses to send and receive parcels effortlessly.
At its launch, the company said at the time, “Spaza Parcel puts delivery power into the hands of everyday South Africans,” highlighting its commitment to creating township-friendly solutions.
