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TymeBank sets October for Philippines debut

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TymeBank sets October as the launch month of its full-scale digital bank in the Philippines, to fire up its global expansion. TymeBank Digitalbanking

African Rainbow Capital -controlled TymeBank has set October as the launch month of its full-scale digital bank in the Philippines, to fire up its global expansion.

The digital bank started exploring international opportunities early last year after securing R1.6 billion in funding from investors in the UK and Philippines, which led to the establishment of GOtyme, a digital bank domiciled in Manila.R1.1 billion from Chinese internet and technology giant Tencent and CDC Group, the UK’s development finance institution, to scale up its global plans.

Commenting on its investment in data-only network Rain, ARC says the business continues to perform well, and demand for both 4G and 5G services remains strong.that saw it acquire 2x10MHz in the 700MHz band and 20MHz in the 2.6GHz band for a total price of R1.43 billion.

 

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