TymeBank appoints Cheslyn Jacobs as new CEO
TymeBank, has announced the appointment of Cheslyn Jacobs as its new Chief Executive Officer
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South Africa's largest digital bank, TymeBank, has announced the appointment of Cheslyn Jacobs as its new Chief Executive Officer (CEO), effective 1 January 2026.
Jacobs holds a BCom in Industrial Psychology and a Postgraduate Diploma in Business Management. He joined Tyme in 2012, holding roles such as Sales and Distribution Manager, National Operations Manager, Head of Sales and Services, and Chief Commercial Officer.
This comes after the bank received approval from the Reserve Bank’s Prudential Authority. Jacobs, will succeed Karl Westvig, who has been instrumental in guiding the bank through a period of rapid growth.
According to the bank, Westvig will remain on board in an advisory capacity as the bank transitions to its next phase.
In a statement on Monday, the bank said Jacobs’ leadership would build on the strong foundation laid by Westvig, with a continued focus on innovation and customer experience.
"Cheslyn’s deep understanding of our customers, strategy, and people uniquely positions him to lead TymeBank into its next era,” said Thabani Jali, Chairman of TymeBank Holdings Limited.
“It’s time to compete even harder for market share as we mature as a business. Under Cheslyn’s leadership, and with our talented team reshaping banking for all South Africans, TymeBank is geared to create even greater value for our customers and partners.”
Since its inception, TymeBank has grown rapidly and now has over 11 million customers.
Jali also paid tribute to outgoing CEO Karl Westvig, "whose tenure has been instrumental in strengthening the bank’s commercial offering". “Karl was pivotal in integrating the Retail Capital business into the Tyme ecosystem,” Jali added.
“His leadership has been integral to building a strong foundation for TymeBank’s future success, and we are delighted that he will continue to contribute in an advisory role, particularly with the Sanlam partnership.”
Jacobs said he was excited to lead the bank into its next chapter.
“TymeBank has always been about challenging convention and making banking more accessible for all South Africans," he said.
"As we move into this next chapter, marked by an even sharper focus on customer experience, I’m excited to build on the incredible foundation our team has created. Together, we’ll continue to offer a bank that empowers, includes, and reflects the hopes and ambitions of the people we serve.”
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mthobisi.nozulela@iol.co.za