TymeBank could break even by 2022

The lender, backed by billionaire Patrice Motsepe’s investment group African Rainbow Capital , has attracted 80,000 customers since a soft launch in November and is targeting 21 million people it says are not adequately served by established rivals.Deputy CEO Tauriq Keraan told a presentation on Tuesday that TymeBank, which officially launched this week, could break even in 2022 if it attracted 2.2 million active customers and lent to 6% of them.

TymeBank was in talks with a major bank to offer a credit card, and planned to launch a separate unsecured lending pilot in the second half of this year, he said.Customers can set up accounts and get a debit card over 700 automated kiosks in Boxer supermarkets, owned by one of the country’s largest chains Pick N Pay, where account holders benefit from the store’s rewards programme.

Andizi

Weeh Mah! Whts the difference between this and TEBA bank😂

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