Imperial to collaborate with Standard Bank to digitise and enhance the supply chain in the main market

9 May 2022

Imperial is pleased to advise that it has partnered with Standard Bank’s Corporate & Investment Banking (CIB) division to further accelerate market access, reduce the supply chain costs and enhance the growth of consumer packaged goods (CPG) within the ecosystem of the main market. This collaboration brings together digital fintech services and integrated logistics and market access solutions to enhance the flow of branded consumer goods, reduce the cost of distribution, add new products and services to consumers and traders, and provide principals with improved insights into consumers within the main market of South Africa and ultimately across the African continent.

In 2020, Standard Bank developed a unique fintech platform, thrive_, a digital all-in-one platform to accelerate the flow of goods between independent traders and principals in the main market. The mission for thrive_ is to connect people and principals by physically deploying retail technology in local taverns and spazas, enabling cashless payments, making it easy to connect with customers, grow sales and gather main market insights. Since its launch, thrive_ has enabled over R1bn in the flow of goods between CPG principals and their traders.

“Imperial is excited about this collaboration as we will be able to further leverage our integrated and innovative logistics and market access solutions, supported by best-in-class emerging and fintech technologies, to help reduce the cost of distribution to consumers, provide increased visibility in the main market for our principals, while also enabling traders to grow their businesses more efficiently,” says Mohammed Akoojee, Group CEO at Imperial.

Imperial and Standard Bank CIB will drive the digitisation of the CPG ecosystem, leveraging thrive_ as the preferred platform used by traders and principals. This will accelerate market access for principals by leveraging Imperial’s integrated solutions, Standard Bank’s trade finance capabilities, as well as thrive_’s fintech solutions.

“What makes thrive_ especially unique is that the platforms integrate both store owners and brand suppliers, offering specific services that are valuable to store owners and specific services that are valuable to corporate consumer good brands”, says Lungisa Fuzile, CEO at Standard Bank South Africa. “This is true digital orchestration – connecting big brands with small business, connecting people with brands.”

Through this collaboration, Imperial will continue to build on its ‘Gateway to Africa’ strategy, accelerating access to the main market, one of the fastest growing yet most challenging markets for our principals and the extended ecosystem.

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