TymeBank Appoints a New CEO to Lead Its 2026 Rebranding and Expansion Efforts

South Africa’s digital bank, TymeBank, is gearing up for some big changes in 2026. They’ve just announced that Cheslyn Jacobs will step in as the new CEO starting January 1, 2026, taking over from Karl Westvig, who will stay on to advise the bank. This move shows how serious TymeBank is about growing, innovating, and expanding beyond South Africa.

TymeBank appoints a new CEO to lead its efforts in this exciting new chapter. According to TymeBank Holdings Chairman Thabani Jali, Cheslyn knows the business inside out, from customers to strategy, making him the perfect person to help the bank compete harder and grow stronger.

Who is TymeBank’s New CEO?

Cheslyn Jacobs isn’t new to TymeBank. He’s been with the company since 2012, starting as Sales and Distribution Manager. Over the years, he climbed the ladder, serving as National Operations Manager, then Head of Sales and Services when TymeBank officially launched in 2019. By 2022, he was Chief Commercial Officer, leading the bank’s growth and revenue efforts. Now, being named CEO feels like the natural next step.

He studied Industrial Psychology at the University of the Western Cape and earned a Postgraduate Diploma in Business Management from the Gordon Institute of Business Science. Before TymeBank, he worked at Standard Bank and Deloitte, which means he has a good mix of big corporate experience and fintech know-how, ideal for leading TymeBank’s growth beyond South Africa.

Along with Cheslyn’s new role, TymeBank is planning a fresh new look. They’ll be rebranding to GoTyme in early 2026 to bring all Tyme Group’s brands under one name. Pontsho Ramontsha, TymeBank’s Head of Corporate Communications, says the details are still being finalized and will be shared once they get the necessary approvals.

The switch to GoTyme is meant to connect the bank more closely with its parent company in Singapore, which operates under the same name across countries like the Philippines, Indonesia, and Vietnam.

Growing Fast and Going Global

TymeBank launched in 2019 and quickly became one of South Africa’s fastest-growing banks. It was Africa’s first digital bank to turn a profit within its first year. By late 2024, it had gained over 11 million customers, pretty impressive given how tough traditional banks are to beat.

Part of their success comes from how easy they make it to open an account. Plus, the parent company, Tyme Group, raised $250 million in 2024 in a funding round led by Nu Holdings from Latin America, lifting TymeBank’s value to $1.5 billion. That makes it Africa’s ninth “unicorn”, a startup worth over a billion dollars. Tyme Group also has support from billionaire Patrice Motsepe’s African Rainbow Capital and is growing its presence in Asia.

Why the Leadership Change is Important

Cheslyn Jacobs takes the helm just as TymeBank moves from being a startup to a mature, international finance brand. His deep knowledge of the bank’s operations and customers will help steer the company through its next growth phase, including new tech projects like smart ID and passport services in partnership with the South African Department of Home Affairs.

Outgoing CEO Karl Westvig highlighted the importance of using technology to give people easier access to key services, a clear focus for the bank’s future.

What’s Next for TymeBank, Soon-to-be GoTyme

With a new CEO and a new name on the horizon, TymeBank is set to expand into new regions, boost profitability, and keep delivering simple, affordable banking to millions. This leadership switch signals the bank’s evolution into a global player, changing what digital banking looks like for emerging markets.

TymeBank appoints a new CEO to lead its efforts into this bright future, and all eyes will be on Cheslyn Jacobs and the GoTyme brand in 2026 and beyond.

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