It's GoTyme | TymeBank set to undergo rebrand in 2026
South Africa’s largest digital bank, TymeBank, has announced that it will change its name to GoTyme in 2026
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South Africa’s largest digital bank, TymeBank, has announced that it will change its name to GoTyme in 2026.
TymeBank corporate communications head, Pontsho Ramontsha, told IOL that the move was to reflect the bank’s growth and maturity, as well as its broader ambitions to become a truly global digital banking player.
"We are indeed in the process of evolving our brand in SA to reflect our continued growth, maturity and commitment to customers across the economic spectrum," Ramontsha said.
She added that the process was still ongoing and that the bank looks forward to unveiling the brand identity once internal and regulatory steps are completed.
"While the process is still being finalised, we’re looking forward to unveiling the elevated brand identity once all internal and regulatory steps are complete".
According to reports, the rebrand to GoTyme is part of a broader strategy by the Tyme Group to unify its brand presence across multiple international markets, including Vietnam and the Philippines.
Last year, the Patrice Motsepe-backed bank announced it had made a breakthrough by reaching profitability in December 2023, less than five years after its launch in February 2019.
“We are extremely proud of our achievement, particularly when you consider that globally, less than half of the top 100 digital banks are profitable. In fact, a recent study stated that less than 5% of all neobanks worldwide had reached profitability. CEO of TymeBank Coenraad Jonker said.
"And of those that are in the black, most have taken a lot longer to become profitable; notable examples being Latin America’s Nubank and London-based Monzo, which took eight and seven years respectively. Having achieved our first month of profitable operations in a significantly shorter timeframe is a South African success story that our 8.5 million customers can share with pride,”.
The bank's value reached $1.5 billion (about R26.79 billion) after a recent capital raise, which included a $150-million investment from Nu Holdings Ltd, the top financial company in Latin America
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mthobisi.nozulela@iol.co.za