New CEO for TymeBank
TymeBank has appointed Cheslyn Jacobs as its new CEO, who will assume the role effective 1 January 2026.
Jacobs will succeed Karl Westvig, who will continue in an advisory role after taking the reins in 2023.
Jacobs’ appointment has already received approval from the Prudential Authority of the South African Reserve Bank.
Jacobs was a founding team member of TymeBank and brings a wealth of experience to the company.
He has a BCom in Industrial Psychology from the University of the Western Cape and a Postgraduate Diploma in Business Management from the Gordon Institute of Business Science (GIBS).
He previously worked at Standard Bank and Deloitte. Jacobs joined Tyme in 2012 as Sales and Distribution Manager, later becoming National Operations Manager at Tyme Infield.
He was then appointed Head of Sales and Services in 2019, when TymeBank launched, and was promoted to Chief Commercial Officer in 2022.
As Chief Commercial Officer, he was accountable for driving revenue generation and business growth.
The bank said that Jacobs will lead the next generation, which will have an accelerated focus on innovation, customer experience, and sustainable growth.
“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.”
“Under Cheslyn’s leadership, and with our talented team reshaping banking for all South Africans, TymeBank is geared to create even greater value for our customers and partners.”
After launching in 2019, TymeBank has established itself as one of South Africa’s largest banks, with a customer base exceeding 11 million. It became profitable in December 2023.
Jacobs and Westvig will work closely together over the following three months to ensure a seamless transition.
“TymeBank has always been about challenging convention and making banking more accessible for all South Africans,” said Jacobs.
“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.”
Jacob’s appointment comes amid a series of changes at the bank, which is set to change its name to GoTmye in 2026.
The bank is also partnering with Sanlam to offer unsecured personal loans bundled with credit life cover, entering a market dominated by Capitec.
The broader TymeGroup, which also operates in Vietnam and the Philippines, plans to list on the New York and Johannesburg Stock Exchanges in 2028.
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