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TymeBank gets green light to buy Sanlam’s loan portfolio

eriinfo.com4 days ago02 mins

As of 31 December 2024, TymeBank had 10.7 million customers. The Competition Commission has recommended unconditional approval of TymeBank’s proposed acquisition of SanlamTyme and a portfolio of unsecured personal loans from Sanlam Personal Loans (SPL). TymeBank, South Africa’s first digital-only bank and majority-owned by Patrice Motsepe’s African Rainbow Capital (ARC), now holds deposits nearing R7…

Lesaka Technologies to buy Bank Zero in R1.1-billion deal

eriinfo.com4 weeks ago06 mins

Lesaka Technologies has agreed to buy the digital bank chaired by former FNB CEO Michael Jordaan for R1.1-billion. Jordaan announced the acquisition in a post on social media late on Thursday evening. “So Lesaka Technologies Inc bought @BankZeroSA for R1.1-billion. Lot of regulatory approvals still needed, but both teams are excited about the merger synergies,”…