TymeBank, South Africa’s pioneering digital bank with over 11 million customers, is preparing for a major transformation. In the first half of 2026, the bank will officially rebrand as GoTyme, aligning its South African operations with its international identity already established in the Philippines, Vietnam, and Indonesia.
The rebranding reflects TymeBank’s evolution from a challenger bank into a mature, globally integrated financial services provider. According to TymeBank’s corporate communications head, Pontsho Ramontsha, the change is designed to signal the bank’s growth, scale, and broader customer focus. The process is currently undergoing internal and regulatory approvals, with full details to be shared closer to launch.
Launched in 2018, TymeBank quickly became South Africa’s fastest-growing digital bank, reaching profitability in late 2023, a milestone few neobanks globally have achieved. The bank operates without traditional branches, instead leveraging a network of 1,450 kiosks in Pick n Pay, Boxer, and Foschini Group stores, supported by a robust mobile app.
In December 2024, TymeBank raised $250 million in a Series D funding round, led by Latin America’s Nu Holdings, boosting its valuation to $1.5 billion (R26 billion) and cementing its status as Africa’s ninth unicorn.
Strategic Partnerships and Product Expansion
TymeBank is also expanding its product offering through a joint venture with Sanlam, South Africa’s largest non-banking financial services group. The partnership will see TymeBank acquire 50% of Sanlam Personal Loans (SPL), which has a R5 billion loan book, and co-create a new operating company to offer unsecured personal loans bundled with credit life insurance.
The deal includes:
- A R400 million purchase of half of SPL’s loan book
- A R31.5 million equity stake in the new venture
- A R320 million reference share entitling TymeBank to 50% of credit life insurance profits
This move positions TymeBank to compete in South Africa’s high-margin unsecured lending market, currently dominated by Capitec, African Bank, and Old Mutual.
Expanding Public Services: Smart IDs and Passports
In a landmark partnership with the Department of Home Affairs, TymeBank will offer Smart ID and passport services through its retail kiosks. Unlike traditional banks that use branches, TymeBank will deploy these services via its digital-first infrastructure, starting with a pilot at its Johannesburg headquarters before rolling out nationwide.
This initiative is part of the government’s “Home Affairs @ Home” program, aimed at improving access to civic services, especially in underserved communities. TymeBank CEO Karl Westvig emphasized the bank’s commitment to technology-driven inclusion, stating the partnership reflects a shared mission to deliver secure, citizen-focused services.
IPO Plans: Dual Listing in 2028
Looking ahead, TymeBank is preparing for a dual public listing in 2028, with a primary listing on the New York Stock Exchange (NYSE) and a secondary listing on the Johannesburg Stock Exchange (JSE). The decision to list in New York is driven by stronger international investor interest and deeper capital markets.
TymeBank’s leadership, including Executive Chairman Coenraad Jonker, has outlined plans to expand into Vietnam and Indonesia ahead of the IPO, aiming to operate in four markets by the time of listing.
