TymeBank sets big targets for new business
The digital-only bank seeks to break-even and reach profitability in the coming year, says CEO Coen Jonker.
Rain on track to exceed budgeted R1bn EBITDA
Demand for products remains strong, even as COVID-19 restrictions are relaxed, says African Rainbow Capital.
TymeBank rolls out medical insurance product, hits 4.5m customers
The digital-only bank partners with the National HealthCare Group to provide in-app medical insurance solutions to its millions of customers.
TymeBank debuts Visa credit card
The digital-only bank introduces its first credit card facility, as part of its product expansion plans.
Motsepe’s ARC joins consortium to seal R1.5bn fintech deal
African Rainbow Capital will acquire 37% of fintech firm Crossfin through a consortium, for R600 million, in a combination of acquisitive and growth capital.
TymeBank hits milestones, reaches 4m customer mark
Most of the bank’s new accounts are opened at kiosks, with just under 20% of new accounts now opened online, up from 15% since April.
Lower returns push Patrice Motsepe’s ARC out of Metrofibre
Investment holding company African Rainbow Capital is offloading its 8.7% interest in Metrofibre, which is valued at R268 million.
Motsepe’s TymeBank plans new salary advance products
The digital bank will introduce a buy-now-pay-later product called MoreTyme, as well as salary advance offerings, as it seeks to diversify its client base.
Investment firm, consortium buy 25.8% MetroFibre stake
The organisations agree to acquire a 25.8% interest in MetroFibre Networx held by Sanlam Private Equity, African Rainbow Capital and a minority shareholder.
TymeBank reaches 3m customers, 700 retail kiosks
The branchless bank bills itself among the world’s fastest-growing digital banks, on-boarding between 3 000 and 5 000 new customers daily.
MetroFibre, Investec sign R2.5bn debt funding deal
The financing will be used to extend the open access fibre network operator’s fibre connectivity into under-serviced homes and businesses.