Patrice Motsepe’s TymeBank eyes the half-a-million customer milestone by month-end
Bank’s growth has surpassed analysts’ expectations given that it only officially launched four months ago and has no branch network
TymeBank, owned by businessman Patrice Motsepe’s African Rainbow Capital, said on Friday it is on track to reach the half-a-million customer milestone at end-June.
TymeBank is the first of the new entrants to disrupt banking in SA by offering a zero-fee account. Since its launch in February, some rival banks have also launched no-fee products that include value-added services such as free airtime in a bid to defend their market shares.