Tyme Global, headquartered in Singapore, is the holding company behind the launch of digital banks across multiple countries. Its first venture, TymeBank in South Africa, set the stage for its expansion into Asia with GOtyme Bank in the Philippines. Launched in November 2022, GOtyme has rapidly gained traction, reaching a significant milestone of 5 million customers by December 2024.
In June 2024, GOtyme Bank strengthened its position in the Philippines by acquiring Savii, a payroll lender. This strategic move allows GOtyme to leverage its growing deposit base to enter the lending market through a proven and established model. The acquisition marks a key step in the bank’s evolution, enabling it to offer a broader range of financial services to its expanding customer base.
Tyme Global is also making strides in Vietnam, where it is in the contracting stages with local partners. The company is piloting a merchant cash advance product, signaling its commitment to innovation and tailored financial solutions in new markets.
Financially, Tyme Global has seen positive developments. The fair value of its investment was adjusted to reflect the post-money valuation of its recently closed Series D capital raise, resulting in a favorable adjustment of R351 million. This adjustment underscores the confidence in Tyme Global’s growth trajectory and its ability to scale across diverse markets.
With GOtyme’s rapid customer acquisition in the Philippines and strategic expansions into Vietnam, Tyme Global is positioning itself as a formidable player in Asia’s digital banking landscape. Backed by Patrice Motsepe’s vision, the company continues to demonstrate its ability to adapt and thrive in competitive markets.
: GUGU LOURIE: With Filipino partners, Motsepe’s Tyme is poised to expand into Southeast Asia
The inspiring story of the late businessman, philanthropist and conservationist Anton Rupert is that of a boy from the Karoo who grew up during the Great Depression and struggled to raise enough money to study science at university. Rupert’s Rembrandt Group became known around the world, owning brands such as Cartier, Dunhill, Rothmans and Montblanc.
Within a few decades, the Rupert family dynasty was built, loved by some and hated by others in SA.
Authors of Anton Rupert: A Biography, Ebbe Dommisse and Willie Esterhuyse wrote a telling line in their book: “You know, Mr Erasmus, the best training school for an accountant is poverty!”
Did poverty inflicted on blacks in apartheid SA help Patrice Motsepe, the owner of Tyme, understand how to make money?
It seems so, and he has also learnt from the Ruperts.
When Motsepe decided to globalise his innovative digital bank he partnered with the “Ruperts of the Philippines” who understand the country’s nuances.
The Filipinos Motsepe partnered with are the Gokongwei family, whose company is headed by tycoon Lance.
In March Lance started a spending spree of $1.3bn (R24bn), betting on banks, airlines and hotels.
Lance’s family business JG Summit is stepping up its investments in the Philippines and other key markets in Southeast Asia. JG Summit, one of the largest and most diversified conglomerates in the Philippines, is also involved in food manufacturing, petrochemicals and telecommunications.
The company was founded in 1954 by the late billionaire John Gokongwei as a maize starch factory. After the death of their father in 2019, Lance and his sisters — Robina, Lisa, Faith, Hope, and Marcia — inherited his fortune.
So far, it appears that Motsepe has chosen the right partners, as he did with Sanlam.
In October 2022, Motsepe’s Tyme launched GoTyme Bank in the Philippines. The digital bank is gaining about 200,000 Filipino customers every month, like its sister company TymeBank in SA, which has reached a milestone of 8-million registered customers.
