GoTyme Bank Expands Products, Eyes Top-Three Ranking
The digital lender reports strong growth and plans new credit, lending and investment offerings, subject to regulatory approval.
Updated on Nov. 2, 2026 in Financial Services
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GoTyme Bank plans to expand its products and services after reporting a 126% rise in customer advances to R5.08 billion. The bank, 40% owned by African Rainbow Capital, is on course to become one of South Africa's three largest banks by monthly active users by early 2027.
Why it matters
The growth points to rising demand for low-cost digital banking in South Africa, where GoTyme's focus on cheap digital transactions has driven its expansion. Its planned additions would widen the range of services available to customers across the country.
GoTyme reported customer advances up 126% to R5.08 billion and deposits up 27% to R9.69 billion, with total income rising 25% to R2.72 billion. The source does not give prior-period baselines for these figures, nor the timing of the regulatory approvals required for planned products.
The players
GoTyme Bank
GoTyme Bank is a digital bank that launched in 2019 under the name TymeBank and has grown to more than 13 million customers.
African Rainbow Capital
African Rainbow Capital is the investment firm that holds a 40% stake in GoTyme Bank.
Patrice Motsepe
Patrice Motsepe is a billionaire entrepreneur and a prominent figure in African business and investment.
The details
GoTyme plans to add credit cards, enhancements to its MoreTyme product, expanded personal lending through its Sanlam partnership, a new rewards programme and greater access to investment products. Fee income jumped 41% and net interest income rose 13% to R1.4 billion, while customers collectively save an estimated R150 million a year through its free qualifying instant-payment offering.
Timeline
2019: GoTyme, then known as TymeBank, launched.
2026: The bank describes this as its most successful year to date.
Early 2027: GoTyme is projected to become a top-three South African bank by monthly active users.
Market Landscape
GoTyme's more than 250% year-on-year rise in PayShap usage among its customers shows real-time payments gaining traction in South Africa. The bank's push into credit, lending and investment products places it in a more direct contest with the country's established large banks.
Customers may save an estimated R150 million a year collectively through GoTyme's free qualifying instant-payment offering. Planned credit cards, lending and investment products would add options for customers, subject to regulatory approval.
The takeaway
Customers who make frequent instant payments should check whether their bank offers a free qualifying option, as GoTyme estimates such offerings can save users meaningful sums each year. Watch for regulatory decisions on GoTyme's planned credit and investment products before assuming they are available.
Further reading
For more on the sector, see Financial Services coverage across South Africa.
Source note: This article includes information reported by The Citizen.
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