TymeBank now GoTyme Bank in South Africa after regulatory approval

South Africa’s digital bank TymeBank has officially changed its name to GoTyme Bank, following approval from the South African Reserve Bank (SARB).

The central bank confirmed the change in a notice published in the Government Gazette on Monday, April 13, 2026. “The Financial Surveillance Department at the South African Reserve Bank hereby gives notice that the name of Tyme Bank Limited has changed to GoTyme Bank Limited,” the SARB said.

The name change had been in the works since October 2025, when the bank first signalled the rebrand. At the time, corporate communications head Pontsho Ramontsha described it as a brand evolution rather than a fundamental shift.

“We are in the process of evolving our brand to reflect our growth, maturity, and focus on customers across the economic spectrum,” she said. “Once all internal and regulatory processes are complete, we’ll share the full details.”

That process is now complete, at least on the regulatory side.

The name GoTyme is already used by Tyme Group, the parent company based in Singapore. GoTyme operates in the Philippines, Indonesia, and Vietnam, where it has established a strong presence since starting in the Philippines in November 2022. In just 18 months, it gained 3.6 million customers.

The rebranding in South Africa means that all of Tyme Group’s businesses will now share the same brand identity.

From TymeBank to GoTyme: A brief history of the bank’s achievements

TymeBank launched in South Africa in February 2019 as a fully digital bank with no physical branches. Instead, it deployed kiosks, stationed in Pick’n Pay and Boxer stores, that allowed customers to open accounts in under five minutes. That model proved remarkably effective.

The bank reached 10 million customers in under six years, a pace that outpaced most expectations for a digital-only institution in a market dominated by long-established traditional banks.

Notably, TymeBank reached profitability in December 2023, the first digital bank to do so in South Africa and on the African continent. Former CEO Conraad Jonker was direct about what that milestone represented.

“Less than 5% of all neobanks worldwide had reached profitability,” he said at the time. “We are very proud of this achievement.”

Since then, the bank has continued to grow. By the end of 2024, it had over 11 million customers. In December of that year, Tyme Group, the bank’s parent company, received $250 million in Series D funding.

Similar read: TymeBank names new CEO to drive its rebranding and expansion in 2026

This funding was led by Nu Holdings, the largest financial firm in Latin America. This round of funding valued Tyme Group at $1.5 billion, making it the ninth unicorn in Africa.

The bank is opening customer service centres in South African shopping malls. At the same time, it is removing its smaller kiosks from Pick’n Pay stores. This change reflects the bank’s evolving strategy for its physical locations as it moves from a new business to a more established one.

GoTyme Bank has a new name and a new CEO, Cheslyn Jacobs, who took over in January. The bank aims to expand regionally, improve profitability, and continue serving underserved South Africans.