Called the thrive_Awards, the programme is inspired by the success of Standard Bank's marketplace digital platform start-up called thrive_ launched in 2020 to connect people and retail brands in the FMCG market.

The thrive_ marketplace start-up venture made its product debut with the launch of the first-to-market Point-of-Sale (PoS) solution built specifically for taverns and spaza shops. This trader network also includes:
  • lifestyle lounges
  • wholesalers and distributors (who are the heartbeat of the FMCG market
  • a place of connection for communities,
  • job and wealth creation for many entrepreneurial families, and
  • a stage for DJs and artists to build audiences.

In 2022, the thrive_ marketplace solution enabled more than R1,5-billion in digital payment transactions between shoppers, owner-run retail businesses and FMCG brands across a network of approximately 4 500 traders in townships.

During its first three years of trading, thrive_ has gathered incredible insights about the vibrancy, resilience and potential of township businesses to drive South Africa’s economic growth.

It has now leveraged these insights to conceptualise the thrive_ Awards to celebrate the achievements of owner-run retail businesses in growing the township economy and sustaining livelihoods through job creation and entrepreneurship.

The market value of the township economy is estimated to be approximately R340-billion.

The CEO of thrive_CEO, Khetha Mazibuko, says that the start-up aims to connect people with brands.

"As such, the thrive_Awards enable us to amplify the brands of our business and corporate customers and foster deeper connections between people and brands," adds Mazibuko.

Crosby Mkwanazi, Standard Bank's head of transactional banking, says that the role of Standard Bank's Corporate and Investment Banking (CIB) is to support corporate brands and their value chain.

"The thrive_Awards aim to showcase a critical part of our FMCG customer’s value chain, specifically the many owner-run distributors and retailers who drive FMCG growth," concludes Mkwanazi.

The awards will be across 11 categories identified to amplify the primary market, and entries will be open between May and August.

Award categories
  • 2023 Tavern of the Year
  • 2023 Chesa’nyama of the Year
  • 2023 Sports Entertainment Venue of the Year
  • 2023 Lifestyle Lounge of the Year
  • 2023 Venue DJ of the Year
  • 2023 Spaza of the year
  • 2023 Brand Activation of the Year
  • 2023 Cashier of the Year
  • 2023 Digital Store of the Year
  • 2023 Lifetime Achiever of the Year, and
  • 2023 Wholesaler of the year

For more information, visit www.thrive.trade.com. You can also follow thrive_ on Facebook or Instagram.