TymeBank has named founding team member Cheslyn Jacobs as Chief Executive Officer, with the appointment effective January 1, 2026. The decision follows approval by the South African Reserve Bank’s Prudential Authority and marks a planned handover at the digital challenger. Outgoing CEO Karl Westvig will remain as an advisor to support continuity and execution of the bank’s growth strategy.
Leadership Transition
The change underscores a deliberate shift from rapid expansion to a steadier phase that emphasizes sustainable growth and market consolidation. TymeBank has surpassed 11 million customers, giving the institution the scale to compete more aggressively in core segments. Leadership continuity is preserved as Westvig, who helped steer key integrations and product pushes, transitions into an advisory role.
Profile of the Incoming CEO
Jacobs joined Tyme’s precursor business in 2012 and has held multiple leadership roles since the bank’s official launch in 2019. He led sales and services before becoming Chief Commercial Officer in 2022, where he was responsible for revenue generation and customer growth. Executives highlighted his institutional knowledge, customer focus, and alignment with the group’s strategy as reasons for the promotion.
Achievements Under Karl Westvig
Westvig’s tenure began in January 2023 after TymeBank acquired Retail Capital, the SME funding fintech he previously led, in December 2022. By October 2023 he had succeeded co-founder Coenraad Jonker as CEO of the bank, enabling Jonker to concentrate on his role as Executive Chairman of Tyme Group. The integration of Retail Capital expanded TymeBank’s business banking capabilities and contributed to its progression to unicorn status.
Strategic Context and Market Position
TymeBank’s appointment of a commercial leader as CEO signals a focus on operational excellence, disciplined unit economics, and deeper engagement with existing customers. Management has framed the next phase as competing harder for share in mass retail, small business, and adjacent financial services. The bank’s footprint and distribution model, including partnerships and digital onboarding, provide a platform to optimize costs while broadening product uptake.
IPO Ambitions and Global Outlook
The leadership change aligns with TymeBank’s longer term plan to access public markets as it matures. The group has previously articulated an ambition to list on the New York Stock Exchange by 2028, with a potential secondary listing on the Johannesburg Stock Exchange. Establishing stable profitability, predictable growth, and governance readiness are expected to be priorities under Jacobs as the bank advances its listing roadmap.
Transition Plan and Governance
TymeBank stated that Jacobs and Westvig will work side by side for the first quarter of 2026 to ensure a seamless transfer of responsibilities. The chair, Thabani Jali, has emphasized that the board views this as a natural evolution that keeps strategy, people, and customers at the forefront. Governance continuity, coupled with advisory support from Westvig, is designed to reduce execution risk during the handover period.
TymeBank’s appointment of Cheslyn Jacobs as CEO positions the digital bank for a measured next phase that prioritizes resilience, scale, and disciplined growth. The move builds on momentum achieved under Westvig, particularly the integration of SME lending and the expansion of commercial capabilities. With the transition structured and public market ambitions in view, leadership will focus on translating customer scale into durable profitability.