Author: Gugu Lourie

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…

Old Mutual launched its Mobile Virtual Network Operator (MVNO), OM Connect, in October last year. In its recent financial results, the company revealed, “We launched our mobile virtual network operator, OM Connect, in the fourth quarter and have since acquired approximately 18,400 customers.” The insurance giant views OM Connect as a critical component of its strategy to expand its integrated financial services offering to existing customers and attract new ones. “We see this offering as a key driver of growing our integrated financial services offering to existing customers and a new customer acquisition enabler,” Old Mutual stated. Leveraging its deep…

TymeBank, a top digital bank, continues to outpace global peers in customer growth, reaching 10.7 million customers by 31 December 2024. The bank has seen steady monthly increases in income-generating transactions, with total deposits climbing to R6.9 billion, up from R6.3 billion in June 2024. Net advances also rose significantly, from R1.9 billion to R2.3 billion. TymeBank boasts one of the industry’s highest net promoter scores, underscoring its strong customer satisfaction. The bank is owned by Patrice Motsepe’s African Rainbow Capital Investments. Driven by technology, TymeBank is advancing toward sustainable monthly profitability while investing in long-term initiatives like AI and…

Old Mutual has made significant strides in the launch of OM Bank, its new digital-first retail banking venture in South Africa. The company anticipates an initial loss run rate of R1.1 billion to R1.3 billion, with losses expected to decrease as revenue grows, ultimately reaching break-even by 2028. Key milestones have been achieved, including meeting the remaining Section 17 conditions and securing regulatory approval for the appointment of Clarence Nethengwe as CEO of OM Bank. The bank’s board of directors has also been established, with Nomkhita Nqweni serving as the inaugural chairperson. These leaders will oversee a gradual, risk-based customer…

Old Mutual’s fintech platform, O’mari, has rapidly gained traction in Zimbabwe, attracting 1.3 million customers since its launch. This success highlights the growing demand for digital financial solutions in underserved markets. O’mari, a fintech-enabled banking and lending platform, is central to Old Mutual’s strategy to expand its reach and offer innovative financial services. The company sees O’mari as more than just a digital wallet; it plans to use the platform to deliver additional services like savings, loans, and insurance, creating a comprehensive financial ecosystem. The platform’s success in Zimbabwe has also opened doors for scaling into other African markets. Old…

Mesh.trade MD Connie Bloem believes the future of gold investment must be inclusive, with tokenisation as the solution. “The potential gold holds as a safe, proven hedge against market volatility makes it extremely attractive as an asset class, and tokenisation makes it accessible to just about anybody,” she says. Krugerrand tokens are now live on Mesh.trade’s digital capital markets platform. Each token represents full ownership of a physical, uniquely numbered 1oz bullion Krugerrand, securely stored at Brink’s, an internationally recognised vault facility. The coins, sourced from Rand Refinery, are fully backed and vaulted. “What’s unique about this offering is that…

JSE-listed Absa Group has announced the appointment of Kenny Fihla as its new CEO, effective 17 June 2025. Fihla, a seasoned banking executive with nearly 20 years of leadership experience, joins Absa from Standard Bank Group, where he held several senior roles. Absa described Fihla as a “recognised leader with substantial Pan-African banking experience and a proven track record.” He joined Standard Bank in 2006 and served in key positions, including Chief Executive Officer of Corporate and Investment Banking (CIB), Deputy Chief Executive Officer of Standard Bank Group, and Chief Executive Officer of Standard Bank South Africa. As Deputy CEO,…

Sunbet, the online betting platform of JSE-listed Sun International, has sustained its remarkable growth trajectory, with income surging by 60.6% to R1.2 billion for the year ending December 2024. This achievement marks another instance of the platform exceeding its ambitious growth targets. Sun International, a leading South African casino and hotel group, attributed this success to the rapid expansion of online gaming, driven by technological advancements, shifting social attitudes, and other industry dynamics. However, the company emphasized the need for enhanced compliance monitoring to address the challenges of operating in an increasingly vulnerable digital landscape. “As responsible corporate citizens, we…

Intel has announced the appointment of Lip-Bu Tan, a highly accomplished technology leader with extensive semiconductor industry experience, as its new chief executive officer, effective March 18. The following note from Lip-Bu Tan was emailed to all Intel Corporation employees on March 12, 2025: Team, I’m humbled and honoured to be your next CEO. Intel is a company I have long admired. Since I was a child, I have been captivated by the power of science, technology and engineering — and Intel’s innovation has been at the heart of so many world-changing breakthroughs along the way. Of course, as we all…

Intel has announced the appointment of Lip-Bu Tan, a highly accomplished technology leader with extensive semiconductor industry experience, as its new chief executive officer, effective March 18. Tan will succeed Interim Co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. Additionally, Tan will rejoin the Intel board of directors, having previously stepped down from the board in August 2024. Lip-Bu Tan was appointed chief executive officer of Intel Corporation in March 2025. He also serves on the company’s board of directors. Zinsner will continue in his role as executive vice president and chief financial officer, while Johnston Holthaus will remain CEO…