Tyme Group, backed by South African billionaire Patrice Motsepe, has completed the transition of its South African unit, Tyme Bank, to GoTyme Bank, a rebranding that comes a year after its valuation climbed to $1.5 billion, thus reflecting its place in a fast-growing global banking group. The change aligns the local brand with Tyme Group’s operations in the Philippines and Vietnam, bringing its markets under a single identity as the group serves 20 million customers worldwide.
GoTyme Bank evolves with purpose
At the center of the shift is the launch of the GoTyme Bank app, which went live on Jan. 22. The rollout is being handled through a phased migration, a cautious approach the bank says is designed to safeguard customers while ensuring stability as users move onto the new platform. The app introduces a refreshed design and improved performance, with added emphasis on security, reliability and usability for customers who rely on the bank for payments and savings.
Chief Executive Officer Cheslyn Jacobs said the new name is meant to better express the group’s global scale and its focus on digital banking, without altering the core of the business. The bank continues to operate under its existing South African licence and remains subject to the same regulatory oversight. “GoTyme Bank reflects who we are today and where we’re going next as part of a global banking group with a strong South African foundation,” Jacobs said.
Smooth rebrand follows $1.5 billion valuation
For customers, the change is seamless. Existing account holders are not required to open new accounts or complete additional verification. Account balances, transaction histories and other sensitive information have already been migrated to the new system. Customers only need to download the GoTyme Bank app and sign in with their current credentials to retain full access, while new features focused on payments and savings are set to be introduced gradually.
The rebrand builds on a period of rapid expansion for Tyme Group. More than a year ago, the Singapore-headquartered lender raised $250 million in a funding round that lifted its valuation to $1.5 billion, placing it among Africa’s small group of unicorns. The round was led by Brazil-based Nu Holdings Ltd., Latin America’s most valuable financial company, which invested $150 million for a 10 percent stake.
Expanding credit access for South Africans
In May 2025, Tyme Group also entered into a strategic retail credit joint venture with Sanlam Life, a subsidiary of Sanlam, Africa’s largest non-banking financial services group. The agreement, valued at R751.5 million ($42.04 million), is aimed at expanding access to credit for underserved South Africans, with a focus on unsecured personal loans and credit life products.
Together, the funding, partnerships and now the GoTyme Bank identity underscore a steady effort to deepen digital banking in South Africa while drawing on the scale and technology of a global group. For Tyme Group, the new name signals continuity rather than disruption, tying its South African roots to an international business that has grown quickly, one market at a time.
