Tencent boost for TymeBank’s growth ambitions in SA

Chinese internet giant becomes latest funder and new shareholder in Mostepe-controlled digital bank

12 December 2021 - 00:04

TymeBank, controlled by Patrice Motsepe’s African Rainbow Capital (ARC) and which this week received the backing of Chinese internet giant Tencent as a funder and new shareholder, has ambitious plans for SA, setting its sights on becoming the country’s number three or four retail bank in the next five years.

CEO Tauriq Keraan says he “knows this is ambitious”, but adds that TymeBank was set up “for scale” and that “if we continue to execute and grow the way we are doing there is no reason why we can’t”...

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