TymeBank gets green light to buy Sanlam’s loan portfolio

TymeBank gets green light to buy Sanlam’s loan portfolio

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…

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Biometric fee hike threatens financial inclusion, says TymeBank

Biometric fee hike threatens financial inclusion, says TymeBank

Cheslyn Jacobs, TymeBank chief commercial officer. TymeBank has warned that a proposed increase in biometric verification fees, from 15c to R10, could result in the financial exclusion of its low-income clients, particularly grant recipients, from formal banking. This, after the Department of Home Affairs (DHA) yesterday rolled out its new National Population Register (NPR). This…

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TymeBank: Why we’re taking on home affairs

TymeBank: Why we’re taking on home affairs

The author, TymeBank chief commercial officer Cheslyn Jacobs When the South African government introduced the social relief of distress (SRD) grant in 2020, it was more than a pandemic lifeline. It became a stress test for the country’s financial and digital infrastructure. Millions of previously unbanked citizens suddenly needed a secure, reliable way to receive…

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Schreiber finds ally in Capitec as TymeBank cries foul over fees

Schreiber finds ally in Capitec as TymeBank cries foul over fees

Capitec Bank has voiced its support for Leon Schreiber’s efforts to modernise South Africa’s population registration database after TymeBank on Tuesday excoriated the home affairs minister’s decision to impose big price increases for online identity verification. “Capitec supports the department of home affairs’ initiative to upgrade the National Population Register and enhance the stability and…

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