The global rise of coffee culture has transformed this beloved beverage from a simple morning ritual into a cornerstone of social life. Amidst this booming coffee scene, Mastertons Coffee and Tea Specialists in Gqeberha has emerged as a key player in meeting the increasing demand for high-quality coffee. This century-long partnership with Standard Bank has been instrumental to Mastertons’ growth and success.
As Mastertons approached its 100th anniversary with Standard Bank, the company faced some of its most challenging moments. “Connection, loyalty, trust, steadfastness and shared vision… these are the things that describe a relationship, and through the last 100 years these are the values we have shared. For this, generations of my family past, present and future will forever be grateful,” says Ryler Masterton, the third-generation owner of Masterton’s.
This sentiment captures the essence of the Mastertons journey, particularly during the challenges faced through the COVID-19 pandemic. This relationship, built on trust, loyalty, and shared vision, has been the bedrock of Mastertons’ success and resilience.
The partnership began in 1924 when Ronald “Jock” Masterton, the founder of Mastertons, was seeking a transactional banking partner and opened an account with Standard Bank in Port Elizabeth, the city in which Standard Bank was also founded. This decision marked the beginning of a relationship characterised by personal connections. Jock, known for his avid gardening, often brought baskets of vegetables and flowers to the bank tellers, fostering a warm and personable bond. That partnership would be tested several times over the next century.
During the Great Depression of 1929 and the rationing challenges of World War II, Standard Bank provided vital support to Mastertons. This support extended beyond mere transactions, embodying a deep understanding of the business’s unique needs. When Jock passed away in 1980, the bank facilitated a smooth transition of the business to his son James, providing essential overdraft facilities to ensure operational continuity.
The 21st century has witnessed an unprecedented surge in coffee’s popularity, transforming it from a mere morning ritual to a global cultural phenomenon. This boom is driven by several factors, including the rise of specialty coffee shops, the influence of social media, and a growing appreciation for artisanal brewing methods. By the early 2010s, this led to a burgeoning demand for Mastertons’ products.
In 2015, with Standard Bank’s financial backing, they acquired a larger production facility. This strategic move enabled Mastertons to expand their wholesale trade, supplying major retailers like Shoprite Checkers. The bank’s support was crucial for renovating the facility and purchasing necessary production equipment, positioning the company for rapid growth and national recognition.
In 2018, rising crime and deteriorating conditions prompted Masterton’s to relocate their head office and boutique roastery. Once again, Standard Bank financed the move to Walmer, facilitating enhanced customer offerings, increased retail space, and the establishment of a tasting bar and coffee training centre. These expansions created dozens of jobs, allowed Mastertons to upskill employees and solidify its status as the Eastern Cape’s leading coffee brand with growing national recognition.
Just when it seemed that Mastertons was on an unstoppable upward growth trajectory, the COVID-19 pandemic and subsequent economic disruptions presented significant challenges for the coffee specialists. Standard Bank also partnered with Mastertons in 2022 and 2023, ensuring stock security for major clients amid global supply chain disruptions. The bank’s support enabled Mastertons to maintain operations and adapt to the volatile economic landscape.
With Standard Bank’s assistance, Mastertons also invested in renewable energy to mitigate the impact of loadshedding. This investment underscores the bank’s commitment to developing innovative and sustainable solutions for their clients.
As Ryler Masterton says, the word “relationship” aptly describes the bond between Mastertons and Standard Bank. “In today’s cost-sensitive and challenging environment, where ‘shopping around’ and ‘lowest price wins’ are the norms, our two businesses have unwaveringly walked the same path together for a century.”
Standard Bank is immensely proud of its century-long partnership with Mastertons, a brand integral to Nelson Mandela Bay’s heritage and now a national player in the coffee industry. This relationship, built on trust, loyalty, and shared vision, underscores the power of genuine partnership.
The Mastertons journey offers valuable lessons for other enterprises. It demonstrates how enduring values and strong banking partnerships can sustain a family business across generations. It highlights the importance of resilience through robust financial backing, which enables businesses to navigate economic uncertainties and thrive. It also underscores the significance of community engagement; businesses that invest in their communities lay a foundation for reciprocal support and sustained success.
As Mastertons continues to evolve, Standard Bank remains committed to supporting their journey, overcoming challenges, and achieving new milestones. By helping entrepreneurs start, manage, and grow their businesses, and turning possibilities into opportunities, Standard Bank embodies the essence of true partnership. As a new century dawns, here’s to another hundred years of shared success and mutual growth, driven by Mastertons’ enduring motto: “Constantly in Pursuit of Excellence.”