South Africa’s fastest-growing digital bank, TymeBank, is ushering in a dramatic new phase of global expansion, marked by a major leadership handover and a complete brand overhaul to align with its international ambitions.

TymeBank, the disruptive financial technology (FinTech) giant backed by South African billionaire Patrice Motsepe, is transitioning from a local success story into a global institution. This shift is underscored by several key developments, including a name change to GoTyme and the appointment of a new Chief Executive Officer (CEO).

The digital bank, which achieved unicorn status—meaning a valuation over $1 billion—following a 250million funding roundin December 2024,nowboastsa 1.5 billion (R26 billion) valuation. TymeBank’s remarkable performance has been a massive contributor to intrinsic net asset value gains for Motsepe’s African Rainbow Capital (ARC), which remains the anchor and majority shareholder.

New Leadership Takes the Helm

The biggest change signaling the end of an era in South Africa is the executive rotation at TymeBank. Cheslyn Jacobs, a founding team member of TymeBank, is set to take over as CEO, with his appointment effective 1 January 2026.

Jacobs succeeds Karl Westvig, who served as chief executive after taking over from founder Coenraad Jonker in October 2024. Westvig’s tenure was described by TymeBank Holdings chairman, Thabani Jali, as “instrumental in strengthening the bank’s commercial offering and small business focus”. Westvig will continue to support the bank’s ongoing growth in an advisory capacity.

Jacobs brings a wealth of institutional knowledge, having played an integral role in building the business since joining the initial “Take Your Money Everywhere” (TYME) project in 2012 as Sales and Distribution Manager. He was promoted to Chief Commercial Officer (CCO) in 2022, responsible for driving revenue generation. He holds a BCom in Industrial Psychology from the University of the Western Cape and a Postgraduate Diploma in Business Management from GIBS.

The incoming CEO will work closely with Westvig over the next three months to ensure a seamless transition before his official appointment date.

The Global Pivot: Hello GoTyme

The shift in South African leadership coincides with the Tyme Group’s significant refocus on becoming a multi-country banking powerhouse.

TymeBank is scheduled to change its name to GoTyme in the first half of 2026. The move is aimed at evolving its brand to reflect its “growth, maturity and focus on customers across a wider economic spectrum”.

The GoTyme brand is already operational in international markets, including the Philippines, where the Tyme Group launched GoTyme Bank in 2022. The international arm, TymeGlobal, also has operations or is expanding into Vietnam, Indonesia, and Singapore. The international ventures are being headed by founders Coenraad Jonker (executive chairman and CEO) and Tjaart van der Walt (director).

This global transition is not just about branding; it is about scaling a proven model that initially launched in South Africa in 2019. TymeBank relies on a digital-only approach, utilizing a national network of self-service kiosks hosted through retail partners like Pick n Pay, Boxer, and The Foschini Group (TFG).

The success is undeniable:

• TymeBank has grown its South African customer base to over 11 million.

• It was the first digital bank in South Africa to become profitable, achieving break-even ahead of expectations in late 2023.

Future-Proofing the Digital Bank

The rebranding and leadership change come as TymeBank solidifies major strategic partnerships domestically and prepares for a massive public offering.

1. Sanlam Partnership for Credit: TymeBank has partnered with Sanlam Life and Sanlam Personal Loans to form a joint venture offering unsecured personal loans bundled with credit life insurance. TymeBank is set to acquire half of Sanlam’s R5 billion retail-credit loan book. This move positions TymeBank to challenge incumbents in the high-risk, high-reward unsecured loan segment, which is currently dominated by Capitec. The completion of this transaction is slated for the end of March 2026.

2. Public Listing Plans: The Tyme Group is preparing for a public listing targeted for 2028, with plans for a primary listing in New York and a secondary listing on the Johannesburg Stock Exchange (JSE).

3. Home Affairs Services: The bank is collaborating with the Department of Home Affairs to roll out Smart ID and passport services through its 1,450 points of presence (kiosks) in its partner stores.

These rapid changes signal that the Motsepe-backed bank is rapidly transforming its local focus to ensure competitiveness and capture global market share. By 2026, when the name change is finalized and Jacobs is fully in charge, TymeBank—soon to be GoTyme—will have cemented its role as a key player in the next generation of international digital finance.