EDITORIAL: TymeBank takes tried and tested path to profitability
Unsecured lending has paid off handsomely for the big banks, although done imprudently, unsecured loans can trip a company up
African Rainbow Capital, the Patrice Motsepe-led investment house, does not have a hard time convincing shareholders that its branchless, app-only bank TymeBank is growing fast. The challenge is to show a clear path to profitability.
TymeBank is one of the three high-profile digital newcomers looking to shake up SA’s R400bn retail banking industry, which was traditionally dominated by four bricks–and-mortar rivals before Capitec came seemingly out of nowhere to muscle in on their turf from the early 2000s.