South African digital banking leader TymeBank, backed by billionaire Patrice Motsepe, is entering a bold new chapter—transitioning from a local financial disruptor into a global banking institution. This evolution is being spearheaded by its founders and early leadership team as the group expands its footprint across multiple international markets.
TymeBank, as most South Africans know it today, officially launched in 2019 under the leadership of founders Coenraad Jonker and Tjaart van der Walt. However, its origins date back to 2012, when it began as a Deloitte consultancy project called “Take Your Money Everywhere” (TYME)—a mobile money remittance operator funded by MTN.
The journey to becoming a fully-fledged bank was complex. A third founder, Rolf Eichweber, played a role in the early stages but was not part of the commercial launch. Tyme was later spun out of Deloitte and acquired by the Commonwealth Bank of Australia (CBA) in 2014. In 2018, Tyme Digital partnered with African Rainbow Capital (ARC)—Motsepe’s investment firm—to buy the business from CBA. ARC remains the anchor shareholder, holding an effective majority stake alongside a diverse group of international investors.
Rapid Growth and Unicorn Status
TymeBank officially launched retail banking services in 2019, quickly becoming one of South Africa’s fastest-growing banks and earning tech unicorn status (valued at over $1 billion). Today, it is recognized as a leading digital banking innovator in the region.
The Tyme Group’s ambitions now extend far beyond South Africa. Through its international arm, TymeGlobal, established in 2017, the group operates in Singapore, the Philippines, Indonesia, and Vietnam under the GoTyme brand. In the first half of 2026, Tyme will unify its branding globally under the GoTyme name.
TymeGlobal is led by founder Coenraad Jonker as Executive Chairman and CEO, with Tjaart van der Walt serving as a director.
As TymeBank pivots toward global growth, leadership changes have accelerated locally:
- Sandile Shabalala, the founding CEO, led the bank from 2016 until stepping down in 2019, shortly after its public launch.
- Tauriq Keraan succeeded him, serving as CEO until 2022, before moving into Tyme’s international operations.
- Founder Coenraad Jonker then assumed dual roles as Tyme Group Executive Chairman and TymeBank CEO, before stepping aside in 2024 to focus on global expansion.
- Karl Westvig, previously Executive for Retail, took over as CEO in 2024 but will transition to an advisory role at the end of 2025.
Effective 1 January 2026, Cheslyn Jacobs will become TymeBank’s new CEO. Jacobs, a founding team member, has been integral to Tyme’s growth since 2012, holding roles such as Sales and Distribution Manager, National Operations Manager, Head of Sales and Services, and most recently Chief Commercial Officer.
Jacobs holds a BCom in Industrial Psychology from the University of the Western Cape and a Postgraduate Diploma in Business Management from GIBS. His career includes experience at Standard Bank and Deloitte. His appointment has been approved by the Prudential Authority of the South African Reserve Bank.
