African Rainbow Capital injected R750 million in TymeBank in the last financial year ended June, a tough period for the relatively new digital bank.

The new kid on the banking block now has two million customers − a target reached five months ahead of the bank’s plans.

The 18-month-old South African digital bank is rated second best in the country on the Forbes list of the world’s best banks.

The bank says overall credit utilisation declined during the lockdown and arrears, including non-performing loans, are still within expectation.

ARCH’s Africa Renewable Power Fund has invested $3 million in SA’s blockchain-based solar start-up Sun Exchange.

The digital bank announces the appointment of Karabo Morule as its new independent non-executive director.

The digital bank now has 1.4 million customers, of which 700 000 are active bank accounts

The bank’s half-year results show total credit card spend was R2.6 billion and total credit limits granted sat at R2.5 billion.

The fresh funding will enable the ongoing expansion of CrossBoundary Energy’s commercial and industrial solar services.

The digital bank secures a partnership with the Zion Christian Church, to offer a banking proposition to its members.

After announcing the bank’s first million customers, CEO Tauriq Keraan reveals partnerships will unlock further growth.

The digital bank has reached one million customers in first nine months since public launch, with 420 000 of them being active customers.