TymeBank appoints new CEO

The bank reports having over 11 million customers and aims to increase financial inclusion through technology-driven solutions.

The South African Reserve Bank’s Prudential Authority has approved the appointment of Cheslyn Jacobs as the new Chief Executive Officer of TymeBank, effective 1 January 2026. Jacobs will succeed Karl Westvig, who has served in the bank’s leadership since 2023 and will continue in an advisory role to support the transition.

Jacobs is a founding member of TymeBank and has held several leadership positions within the organisation since joining Tyme in 2012. His previous roles include Sales and Distribution Manager, National Operations Manager, Head of Sales and Services, and Chief Commercial Officer, where he was responsible for revenue generation and business development.

According to Thabani Jali, Chairman of TymeBank Holdings Limited, the leadership change is part of the bank’s strategy to strengthen its position in the South African banking sector and expand its customer base. Jali also acknowledged Westvig’s contribution to integrating Retail Capital into the Tyme ecosystem and advancing the partnership with Sanlam.

From January 2026, Jacobs and Westvig will work together over a three-month transition period to ensure continuity in operations.

Westvig stated that he will continue to support the bank as it expands its presence and develops strategic partnerships. Jacobs said his focus will be on maintaining accessibility and improving customer experience in line with the bank’s digital strategy.