May 30, 2024

SA’s TymeBank to garner fintech start-up


South Africa’s (SA) TymeBank plans to acquire Retail Capital, a local fintech start-up targeting small and medium-sized enterprises (SMEs), to boost its banking offerings.

The digital bank’s acquisition plan is subject to regulatory approvals, TymeBank said in a press statement.

The move will see Retail Capital become a division of TymeBank, thus serving a broader customer base.

The digital bank believes channeling funding efficiently to business owners in South Africa is critical to expanding the historically underserved small business sector.

“This acquisition will enable TymeBank to expand its offering to entrepreneurs to include working capital finance,” said TymeBank CEO Coen Jonker.

In the last ten years, Retail Capital has provided more than 43,000 business owners in South Africa with over R5.5 billion (USD 331 million) in working capital, making it the largest SME funder of its kind in the sector.

Tyme Group’s multi-country digital banking presence will enable Retail Capital’s international expansion into other markets, the statement said.




Mohammad Kamran Wajid, Deputy Chief Executive Officer, Emirates Islamic.
Emirates Islamic partners with Buna
Emirates NBD revamps Liv with new value proposition
Emirates NBD revamps Liv with new value proposition
Mahmoud Khedr, Director of Business Development & Partnership at OPay.
OPay announces its intention to apply for a license
  • Tamkeen Insurance banner
  • Telcotech


The Marcus Evans CAPEX Project & Portfolio Management conference taking place on 10-11 June, 2024 in Berlin, Germany, will bring together industry leaders, project managers, financial experts, and technology innovators
Souhad Saeed El Hariri Appointed As RCD-Middle East, CIS And Indian Ocean By Valor Hospitality Partners due to her marketing experience
Kanoo Machinery UAE and KSA, announced the signing of a partnership agreement with Combilift to provide sustainable forklifting solutions in the region
ROSHN Group's partnership with SIMAH reflects its commitment to transparency and due diligence. Image Courtesy: ROSHN Group