Tyme Group has announced a series of leadership changes as it embarks on the next chapter of its growth strategy.

TymeBank has enjoyed rapid growth in South Africa, and aspires to be a multi-country business, strengthening its position as an international digital banking group.

The group is making major advances in the Philippines with the imminent launch of GOTyme Bank, the digital bank modelled on South Africa’s TymeBank, and officially submitted its application for a digital banking licence in Pakistan in March 2022.

TymeBank chairman, Thabani Jali, says: “TymeBank in South Africa has nearly 5-million customers, and the bank is on course to break even in 2023. We believe the time is right to redeploy key executives into positions that will let the group take advantage of opportunities that are opening up in new territories.”

As such, and aligned to this strategy, the group has announced the following leadership changes:

* TymeBank’s current CEO, Tauriq Keraan, will be appointed Group Executive: Growth Projects, responsible for leading Tyme’s establishment in new territories as part of the group’s geographic diversification strategy.

* Coen Jonker, the co-founder of Tyme and TymeBank, will be appointed TymeBank’s CEO in South Africa. His key priorities are the recruitment of several new senior hires to support bank’s growth trajectory, further transforming the TymeBank leadership team and leading selected strategic acquisitions.

* David Pfaff, Tyme Group’s current CFO, will take over from Coen Jonker as Tyme Group CEO; and

* Cheslyn Jacobs, who is currently responsible for TymeBank’s sales and service function, will be appointed Chief Commercial Officer of TymeBank, accountable for revenue generation.

With the exception of Jacobs’ appointment, which is effective 1 June, the leadership changes come into effect on 1 July, with the benefit of a three-month hand-over from TymeBank’s outgoing CEO Tauriq Keraan to his successor, Coen Jonker.

“Tauriq has been instrumental in making TymeBank a South African success story, having assimilated a multitude of unique learnings in the shaping of the bank’s business model through the formative period of its lifecycle. He is therefore the ideal person to lead Tyme Group’s establishment in new territories and shape the customer experience across the group,” says Jali.

In his new role as Tyme Group CEO, David Pfaff will move to Tyme Group’s head office in Singapore where he assumes responsibility for the Group’s international growth strategy.