TymeBank rebrands to GoTyme as it partners with Sanlam and expands services
The journey of South Africa’s fastest-growing digital bank takes a new turn as TymeBank rebrands to GoTyme as it partners with Sanlam and expands services. Backed by billionaire Patrice Motsepe, TymeBank continues to transform the local banking landscape with bold innovation, customer-focused services, and strong partnerships that set it apart from traditional banks.
A digital banking pioneer in South Africa
Since its soft launch in 2018, TymeBank has become one of the country’s most recognizable digital brands, growing to over 10 million customers in less than a decade. Unlike traditional banks with brick-and-mortar branches, TymeBank operates entirely through its mobile app and digital kiosks located in Pick n Pay, Boxer, and Foschini Group stores.
This digital-first model has made banking more accessible and affordable for South Africans, particularly those underserved by the traditional financial system. The bank reached profitability ahead of schedule in late 2023, becoming the first digital bank in South Africa to achieve profitability—a milestone that cements its position as an industry leader.
From TymeBank to GoTyme: A new chapter
As part of its evolution, TymeBank rebrands to GoTyme as it partners with Sanlam and expands services in 2026. The rebrand aligns the South African branch with the global Tyme Group, which already operates successful ventures in the Philippines and Vietnam under the GoTyme brand.
The name change represents more than just a new look—it reflects the bank’s ambition to serve a broader market and modernize its brand identity. The upcoming transition is pending regulatory approval, with final details expected closer to launch.
According to company statements, the GoTyme rebrand aims to mirror the bank’s “growth, maturity, and customer-centric evolution” as it moves toward becoming a global digital financial powerhouse.
The Sanlam partnership: Expanding access to credit
A significant part of this transformation comes from TymeBank’s partnership with Sanlam, a move set to reshape the unsecured lending market in South Africa. Through this partnership, TymeBank will acquire half of Sanlam’s retail credit loan book and co-establish a new operating company dedicated to offering credit solutions.
Sanlam Personal Loans (SPL) already provides personal loans ranging from R5,000 to R300,000 with fixed repayment terms of 1 to 6 years. The SPL loan book currently stands at R5 billion, demonstrating a solid foundation for growth.
This partnership opens new opportunities for TymeBank customers, giving them access to affordable personal loans bundled with credit life cover—an important protection measure for borrowers. It also positions TymeBank to compete more effectively against heavyweights like Capitec, African Bank, and Old Mutual, who dominate the unsecured loan space.
Patrice Motsepe’s influence and financial backing
The transformation of TymeBank into GoTyme wouldn’t be possible without the strategic vision and financial support of Patrice Motsepe, one of South Africa’s most prominent billionaires.
Motsepe’s African Rainbow Capital (ARC) holds a 50.1% stake in African Rainbow Capital Financial Services Holdings (ARC FSH), which in turn owns about 45% of TymeBank. Sanlam Life also owns a 25% interest in ARC FSH, making the collaboration between Sanlam and TymeBank a natural and strategic fit.
This robust ownership structure gives TymeBank the stability and financial backing required to expand locally and globally, while maintaining a firm South African identity.
Innovating beyond banking: IDs and passports at Tyme kiosks
While TymeBank rebrands to GoTyme as it partners with Sanlam and expands services, it is also venturing into public service delivery. The bank has partnered with the Department of Home Affairs (DHA) to provide Smart ID and passport services through its retail kiosks.
Unlike other banks that offer these services through physical branches, TymeBank will leverage its 1,450 digital kiosks nationwide—offering citizens easy access to essential government documents in Pick n Pay, Boxer, and Foschini stores.
The pilot program will start in Johannesburg, followed by a national rollout. This initiative strengthens TymeBank’s position as a key player not just in finance, but in national digital inclusion.
Global expansion and a 2028 public listing
The growth story doesn’t end with rebranding and partnerships. TymeBank has expanded its international footprint, operating under the Tyme Group umbrella with branches in the Philippines (GoTymeBank) and Vietnam.
As the brand consolidates its global presence, TymeBank is preparing for one of its most ambitious milestones yet—a public listing by 2028. The bank plans to debut on both the New York Stock Exchange (NYSE) and the Johannesburg Stock Exchange (JSE), signaling its intent to compete globally and attract international investors.
With a valuation of $1.5 billion (R26 billion) by the end of 2024, the company is well-positioned to achieve this target.
The future of GoTyme: A new era in digital finance
As TymeBank rebrands to GoTyme as it partners with Sanlam and expands services, it ushers in a new era of digital banking for South Africa. This transformation is more than a cosmetic change—it represents a strategic evolution that will integrate modern financial technology, expand access to credit, and connect more South Africans to digital financial tools.
The upcoming years will be crucial as GoTyme rolls out new products, tests the Home Affairs initiative, and finalizes its regulatory approvals for the rebrand. But one thing is clear: TymeBank’s journey from startup to banking powerhouse is far from over.
With the support of Patrice Motsepe, strategic alliances like Sanlam, and a clear roadmap for innovation and global expansion, GoTyme is set to redefine what it means to be a modern African bank.
Conclusion
The TymeBank rebrand to GoTyme marks the beginning of an exciting new phase in South Africa’s financial sector. It symbolizes growth, partnership, and digital empowerment. As the bank continues to expand services, strengthen partnerships, and prepare for its 2028 listing, customers can look forward to a more connected, customer-focused, and globally competitive banking experience.
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