Cheslyn Jacobs takes the helm as CEO of TymeBank

TymeBank announced on Monday it will appoint Cheslyn Jacobs as its new chief executive effective January 1, 2026. It said it has received approval from the South African Reserve Bank’s Prudential Authority for the appointment.

Jacobs succeeds Karl Westvig, who has been with the bank’s leadership since 2023 and will continue to serve in an advisory capacity to support the bank’s ongoing growth.

TymeBank is currently one of the world’s fastest-growing digital banks and the first digital bank to reach profitability in Africa, with over 11 million customers since launching in February 2019. Through retail distribution partnerships, TymeBank has over 1 000 kiosks and 15 000 retail points across the country. And through its merchant cash advance product, TymeBank is also the largest SME funder of its kind in the sector.

Jacobs is a TymeBank founding team member. TymeBank said he brings a wealth of institutional knowledge and leadership experience, having played an integral role in building the business. His appointment marks the beginning of the bank’s next exciting chapter, which will be defined by an accelerated focus on innovation, customer experience, and sustainable growth.

“Cheslyn’s deep understanding of our customers, strategy, and people uniquely positions him to lead TymeBank into its next era,” said Thabani Jali, the chairman of TymeBank. “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.”

Jali paid tribute to outgoing CEO Karl Westvig, whose tenure has been instrumental in strengthening the bank’s commercial offering and small business focus, as well as bolstering its customer base and building a solid foundation for sustainable growth.

“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.”

TymeBank said from January 1, 2026 when Jacobs officially becomes CEO, he and Westvig will work closely together over the next three months to ensure a seamless transition while maintaining momentum in its growth trajectory.

Reflecting on his tenure and the evolution of the business,  Westvig said, “It’s been a privilege to lead TymeBank through a period of solid growth and transformation. The business is now entering an exciting new phase, and I look forward to continuing to support the team as TymeBank expands its brand presence and cements key strategic partnerships.”

TymeBank said Jacobs’ appointment reflects its strong internal leadership bench and commitment to continuity as it expands its footprint in the South African banking sector and beyond, while staying true to its mission of reshaping banking for all.

Jacobs said, “TymeBank has always been about challenging convention and making banking more accessible for all South Africans. 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.”

Jacobs has a BCom in Industrial Psychology from the University of the Western Cape and a Postgraduate Diploma in Business Management from the University of Pretoria’s Gordon Institute of Business Science (GIBS). He previously worked at Standard Bank and Deloitte. Jacobs joined Tyme in 2012 as Sales and Distribution Manager, later becoming National Operations Manager at Tyme Infield. He was appointed Head of Sales and Services in 2019, the year TymeBank launched, and was promoted to Chief Commercial Officer in 2022, accountable for driving revenue generation and business growth. 

BUSINESS REPORT