South African digital banking pioneer TymeBank has announced plans to rebrand as GoTyme in the first half of 2026, marking a major step in its global expansion and brand evolution. The rebranding aligns with the company’s strategy to unify its operations under a single identity across multiple markets, including South Africa, the Philippines, Indonesia, and Vietnam.
According to Pontsho Ramontsha, Head of Corporate Communications at TymeBank, the process is currently being finalised, with full details to be released once all internal and regulatory procedures are completed.
“Yes, we are in the process of evolving our brand to reflect our growth, maturity, and focus on customers across the economic spectrum,” Ramontsha confirmed in an interview with News24.
The rebranding was first disclosed during a closed investor session last week.
From TymeBank to GoTyme: A Journey of Growth and Milestones
Since its launch in 2019, TymeBank has achieved several industry-first milestones. Notably, it became the first digital bank to reach profitability in South Africa and across Africa by December 2019.
Coenraad Jonker, Executive Chairman of Tyme Group and former TymeBank CEO, highlighted the significance of this milestone, noting that fewer than 5% of neobanks worldwide have reached profitability.
“We are extremely proud of our achievement, particularly when you consider that globally, less than half of the top 100 digital banks are profitable,” Jonker said.
Jonker transitioned to his current role as Executive Chairman in October 2024, handing over leadership to Karl Westvig, who previously served as Chief Executive for Retail and Business Banking.
A Growing Fintech Powerhouse Backed by Strong Investors
TymeBank’s parent company, Tyme Group, reached unicorn status in December 2024 after raising $250 million in a Series D funding round, valuing the company at $1.5 billion. The round included major global investors such as Nu Holdings, Latin America’s most valuable financial company.
The group is majority-owned by African Rainbow Capital (ARC), founded by billionaire Patrice Motsepe.
With a customer base exceeding 10 million in South Africa and 15 million globally, Tyme Group continues to expand rapidly across emerging markets.
Global Expansion: From South Africa to Southeast Asia
Tyme Group operates under different brand names across regions. TymeBank in South Africa and GoTyme in the Philippines, Indonesia, and Vietnam. The group launched GoTyme Bank in the Philippines in November 2022 through a joint venture with Gokongwei Group, attracting 3.6 million customers within 18 months.
The company is now expanding into Vietnam and Indonesia, where it plans to acquire a local banking license and compete with regional leaders such as Bank Mandiri and Bank Rakyat Indonesia.
“Our goal is to become the top retail bank in the Philippines and replicate that success in Indonesia,” Jonker stated. “Over the next three to four years, we’ll focus on customer excellence, operational execution, and preparing the business for a potential listing.”
Strengthening Local Partnerships in South Africa
Back home, TymeBank continues to deepen its local footprint. The bank recently partnered with the South African Department of Home Affairs to enable citizens to apply for smart ID cards and passports via its kiosks and mobile app.
CEO Karl Westvig described the partnership as a reflection of TymeBank’s mission to serve all South Africans through accessible, technology-driven solutions.
“TymeBank’s mission has always been to expand banking using an innovative, secure, and affordable model that meets the needs of every South African,” Westvig said.
Conclusion
TymeBank’s rebrand to GoTyme marks more than just a name change — it represents the fintech’s evolution into a global digital banking powerhouse. Backed by strong investors, a proven model of profitability, and a focus on accessibility, GoTyme is set to redefine digital banking not just in South Africa, but across Africa and Asia.
