Latest News & Developments
SASSA has announced that beneficiaries of the R370 SRD grant can now switch their payment method to Tyme Bank by visiting a nearby kiosk to open an account, then submitting updated banking details at a SASSA office.
Thousands of spaza shops in South Africa are closing due to stringent registration requirements imposed by Cogta.
Sanlam announces robust earnings growth for 2024, driven by strategic partnerships and market expansion across Africa and India.
“I don’t know who opened the account with TymeBank as it was not me and not any member of my family,” said Jairaj Sathdav.
The capital will accelerate Tyme Group’s expansion, enhance its technology platform, and strengthen its position in key markets.
The growth in mobile customers was fuelled by the popularity of its rainOne and rain mobile offerings, ARCI directors said.
South African insurers are making bold moves into banking, while banks continue to sell insurance.
TymeBank, the digital bank majority owned by South African billionaire Patrice Motsepe’s African Rainbow Capital, has confirmed that it has reached the 10 million customers milestone, as of September.
Westvig took over the reins as CEO of TymeBank, the first digital bank in Africa to reach profitability, yesterday (Oct 1). The bank now has almost R7 billion in customer deposits, which it said makes it the fastest-growing bank in South Africa, based on customer deposits for 2024 – and growing significantly faster than the country’s ‘Big Five’ banks.
ARC Investments said yesterday that its ARC Fund portfolio was was positively impacted by the GNU consummation, lower inflationary pressures and reduced levels of load shedding by Eskom for the full year to June 2024.
Of the complaints from clients of Capitec, 64% became formal complaints, 37% for FNB, 48% for Standard Bank, 64% for Nedbank, 79% for African Bank and 63% for TymeBank.
TymeBank is hoping to cash in on the belief that not all South Africans want to be cashless.
OPINION: The last thing you want is having to pay penalties and interest on outstanding amounts, just because you haven’t planned properly, writes Mmasetena Nyatlo.
The move will allow Tymebank’s business banking customers to not only use the latest in mobile payment innovation, but to also have access to iKhokha’s suite of business tools.
Benefits include free banking, customised personal loans and instalment-based, interest-free shopping.
Black-owned digital TymeBank reached its first month of profitability in December, the first digital bank in South Africa and on the continent, to break even, CEO Coenraad Jonker said yesterday.
By leveraging mobile communication and chat commerce technologies, MediClub Connect provides a convenient platform for millions of South Africans to access healthcare services directly from their mobile phones via WhatsApp.
The closing of the second capital raise also coincided with the group reaching 7 million customers this month.
Bank can now expand its financial products and services to its expanding customer base, both instore and on digital platforms.
FNB ranked first, followed by Absa, in the Banking Index
The index is compiled after DataEQ tracked over four million social media posts about big banks in the country.
The bank has passed all regulatory hurdles.
Salary advance delivers significant benefits for cash-strapped employees
Set up with a desire to improve lives, TymeBank is challenging the banking status quo with accessible services and attractive rates.
Shares in JSE-listed African Rainbow Capital Investments, which holds the majority shareholding in TymeBank, were flat on the news in intraday trade yesterday.