South Africa’s digital bank, TymeBank, is set for a major transition as it prepares for a leadership change and a fresh brand identity. The company announced that Cheslyn Jacobs will become the new Chief Executive Officer from 1 January 2026, succeeding Karl Westvig, who will remain with the bank in an advisory role.
The announcement marks a key milestone for one of Africa’s most successful fintech firms. It comes at a time when the digital bank is positioning itself for the next phase of growth, innovation, and regional expansion.
The company stated the move signifies a new chapter focused on innovation, customer experience, and sustainable growth. TymeBank Holdings Chairman Thabani Jali described Jacobs as a leader with a deep understanding of the business.
“Cheslyn’s understanding of our customers, strategy, and people uniquely positions him to lead TymeBank into its next era. It’s time to compete even harder for market share as we mature as a business.” Jali said.
Cheslyn Jacobs: Who is the incoming CEO?
Cheslyn Jacobs has been with TymeBank since its inception, joining Tyme in 2012 as Sales and Distribution Manager. He subsequently held the positions of National Operations Manager and, in 2019, Head of Sales and Services, the same year TymeBank officially launched.
By 2022, he had become Chief Commercial Officer, where he oversaw business growth and revenue generation. His promotion to CEO is seen as a natural step in a long career shaped within the company.
Jacobs holds a BCom in Industrial Psychology from the University of the Western Cape and a Postgraduate Diploma in Business Management from the Gordon Institute of Business Science. Before joining Tyme, he worked at Standard Bank and Deloitte.
This background gives him a mix of corporate experience and fintech innovation, a balance that could prove vital as the digital banking platform expands beyond its South African base.
Rebrand on the horizon: from TymeBank to GoTyme
As Jacobs prepares to take charge, TymeBank is also working on a major rebranding effort. The bank confirmed plans to change its name to GoTyme in the first half of 2026, reflecting a unified identity across the Tyme Group’s global operations.
According to Pontsho Ramontsha, TymeBank’s Head of Corporate Communications, the rebranding process is still being finalised, with full details to be announced once regulatory and internal approvals are complete.
The rebrand is expected to strengthen TymeBank’s position as part of the Tyme Group, headquartered in Singapore, which operates under the GoTyme brand in the Philippines, Indonesia, and Vietnam.
Since its launch in 2019, TymeBank has become one of South Africa’s fastest-growing banks. It was the first digital bank in Africa to reach profitability, and it did so within its first year of operations.
TymeBank reached over 11 million customers by late 2024, a notable achievement considering the established dominance of traditional banks. Their success is largely attributed to a streamlined onboarding process that enables users to open accounts rapidly.
In December 2024, TymeBank’s parent company, Tyme Group, secured $250 million in Series D funding led by Nu Holdings, Latin America’s largest financial firm. This funding round elevated TymeBank’s valuation to $1.5 billion, making it Africa’s ninth unicorn, a private startup valued at over $1 billion.
Read also: South African fintech TymeBank set to rebrand to GoTyme
The group is backed by billionaire Patrice Motsepe’s African Rainbow Capital and has been expanding across Asia through partnerships and acquisitions.
Why the leadership change matters
The appointment of Cheslyn Jacobs as CEO at this stage is strategic. It comes as TymeBank moves from a startup phase to a mature, globally connected financial brand.
Jacobs’ deep operational knowledge, customer engagement background, and Tyme ecosystem leadership make him ideal to lead the bank’s next phase of sustained profitability, innovation, and cross-border growth.
His appointment aligns with TymeBank’s expansion into digital IDs, smart passports, and financial inclusion initiatives, including a recent partnership with the South African Department of Home Affairs to facilitate smart ID and passport applications via TymeBank kiosks and its mobile app.
According to outgoing CEO Westvig, this partnership shows the company’s commitment to using technology to improve citizens’ access to essential services.
As the bank prepares to enter 2026 with a new leader and a new name, its goals are clear: expand regionally, strengthen profitability, and continue offering simple, affordable, and accessible banking to millions.
The leadership change at TymeBank, soon to be GoTyme, signals the evolution of an African fintech into a global player redefining digital banking in emerging markets.
