TymeBank has announced the appointment of Cheslyn Jacobs as its new Chief Executive Officer, effective 1 January 2026, following approval by the South African Reserve Bank’s Prudential Authority. Jacobs succeeds Karl Westvig, who joined the leadership team in 2023 and will continue to serve as an advisor to support the bank’s growth strategy. The appointment marks a significant milestone for TymeBank as it transitions into a new phase of innovation, customer-centric growth, and market expansion.
As one of the founding members of TymeBank, Jacobs brings a wealth of institutional knowledge and strategic insight to the role. He has been instrumental in shaping the bank’s direction from its inception, helping to build one of South Africa’s leading digital financial institutions. His leadership will focus on deepening customer relationships, driving technological advancement, and enhancing operational excellence to sustain TymeBank’s strong growth trajectory. Chairman of TymeBank Holdings, Thabani Jali, praised Jacobs’ leadership qualities, noting that his deep understanding of the bank’s customers, strategy, and people uniquely positions him to guide the institution into its next era of growth and competition.
Since its launch in 2019, TymeBank has grown rapidly, surpassing 11 million customers and becoming a pioneer in digital-first, accessible banking. The bank’s success is built on its innovative model, offering affordable, technology-driven financial services that meet the needs of South Africans across the country. Outgoing CEO Karl Westvig has played a pivotal role in strengthening TymeBank’s commercial capabilities, expanding its SME offering, integrating Retail Capital into the Tyme ecosystem, and advancing its strategic partnership with Sanlam — initiatives that have laid a strong foundation for the future.
To ensure a smooth transition, Jacobs and Westvig will collaborate during a three-month handover period beginning in January 2026. Reflecting on his tenure, Westvig expressed pride in leading TymeBank through a transformative growth period, emphasizing his continued commitment to supporting the team as the bank expands its brand and partnerships. His leadership has been marked by operational progress and strategic foresight, both of which have positioned the bank for long-term success in South Africa’s competitive financial sector.
Jacobs’ appointment signals continuity and ambition for TymeBank’s future. Holding a BCom from the University of the Western Cape and a Postgraduate Diploma in Business Management from GIBS, he has spent over a decade within the Tyme ecosystem, most recently as Chief Commercial Officer, where he drove business growth and revenue expansion. Under his leadership, TymeBank is poised to advance its mission to reshape banking, expand financial access, and deliver even greater value to customers and partners across South Africa.
