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TymeBank, the emerging lender backed by Patrice Motsepe’s African Rainbow Capital (ARC), has caught the interest of one of the world’s most recognisable tech names, Tencent, viewing this as a sign of faith in a digital banking model it hopes to roll out in parts of Asia.

Most of the $70m (R1.1bn) raised in TymeBank’s latest funding round will be used to fund growth in SA, co-founder Coen Jonker told Business Day. But just less than a third is being earmarked for its second digital bank, in the Philippines, ahead of an expected launch in the third quarter of 2022...

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