TymeBank takes on rivals in lucrative unsecured lending market
Broader focus is intended to enable new kid on the block to compete with the likes of Capitec
TymeBank, which is owned by Patrice Motsepe’s African Rainbow Capital, is planning to start piloting unsecured lending in July.
This will broaden the focus of the new kid on the block, which will compete with the likes of Capitec in this lucrative market.
TymeBank’s CEO, Sandile Shabalala, told analysts and investors in Johannesburg on Tuesday that the bank would start by piloting unsecured term lending in July and a credit card in partnership with consumer lending company RCS later in 2019.
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