Patrice Motsepe’s $1.5 billion fintech powerhouse, TymeBank, has announced Cheslyn Jacobs as its new Chief Executive Officer, marking a pivotal transition for one of Africa’s fastest-growing digital banks.

Jacobs will assume office on 1 January 2026, succeeding Karl Westvig, who will continue in an advisory capacity after a transformative two-year tenure.

Jacobs’ appointment, approved by the Prudential Authority of the South African Reserve Bank, signals continuity and renewed ambition within the Motsepe-backed group.

Having been part of TymeBank’s founding team, Jacobs brings over a decade of institutional knowledge and operational expertise to the helm.

“Cheslyn’s deep understanding of our customers, strategy, and people uniquely positions him to lead TymeBank into its next era,” said Thabani Jali, Chairman of TymeBank Holdings Limited.

“It’s time to compete even harder for market share as we mature as a business.”

Jacobs, who holds a BCom in Industrial Psychology and a Postgraduate Diploma in Business Management from GIBS, began his journey with Tyme in 2012 and later became Chief Commercial Officer in 2022.

Under Motsepe’s backing through African Rainbow Capital (ARC), TymeBank has achieved exceptional growth since its 2019 launch, surpassing 11 million customers and reaching profitability in December 2023. Jacobs played a pivotal role in driving commercial expansion and scaling customer access across South Africa’s banking landscape.

“TymeBank has always been about challenging convention and making banking more accessible for all South Africans,” Jacobs said.

“As we move into this next chapter, marked by an even sharper focus on customer experience, I’m excited to build on the incredible foundation our team has created.”

Under his leadership, TymeBank plans to deepen its innovation drive, prioritise customer experience, and pursue sustainable expansion across Africa and Asia.

The bank’s parent, TymeGroup, which operates in Vietnam and the Philippines, is targeting a dual listing on the New York Stock Exchange and the Johannesburg Stock Exchange by 2028.

In 2026, TymeBank will also rebrand as GoTyme, aligning its identity with its international counterparts.

Meanwhile, a new partnership with Sanlam will expand its retail offerings through unsecured personal loans bundled with credit life cover, entering a space dominated by Capitec.

For Africa’s digital banking landscape, TymeBank’s leadership transition signals more than a new CEO; it marks the next chapter in the continent’s fintech revolution.

With Motsepe’s vision driving its growth, TymeBank’s next chapter represents more than a leadership change; it’s a reaffirmation of Africa’s rise in the global fintech revolution. (Business Insider Africa)