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TymeBank pays off

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African Rainbow Capital’s (ARC) investment in TymeBank is paying off as the company continues to go from strength to strength.

ARC’s results for the year through June 2024, released on Monday, revealed TymeBank’s strong performance.

 

ARC is an investment holding company with a diversified portfolio of investments selected to deliver long-term capital growth to investors.

In its 2024 results, the company reported that its intrinsic net asset value grew by 21.5% to R18.62 billion.

 

The ARC Fund’s investment portfolio comprises 32.6% mature assets, 54.7% high-growth assets, and 12.7% early-stage assets. 

Its mature investments include 31 entities, while high-growth assets and early-stage investments comprise nine entities each. 

 

The high-growth investments include portfolio companies like the Tyme Group, Rain, Linebooker and Capital Legacy.

 

The Tyme Group, which comprises two businesses — one South African and one Asian — was a standout performer in this year’s results.

 

The Tyme Group’s Asian division — Tyme Asia Holdings — comprises Tyme Global and GOtyme.

 

Tyme Global is a holding company based in Singapore. It is the platform through which multi-country banks are being launched. 

 

GOtyme is a digital bank based in the Philippines that was launched in November 2022 and is already showing impressive growth.

 

The company has grown its customer base to 3.6 million within 18 months of launching GOtyme in the Philippines.

 

ARC said the model’s growth trajectory is strong, with activity rates exceeding those of South Africa and deposits growing faster than anticipated. 

 

GOtyme is currently ranked sixth 6 in the country regarding EFT transfer and QR payment volumes. The bank is expected to reach profitability in Q4 of 2025.

 

The Tyme Group’s South African segment — Tyme SA Holdings — comprises TymeBank, a leading digital bank in the country.

 

It boasts the largest cash-in and cash-out network in South Africa, thanks to its extensive retail partnership network with Pick n Pay, Boxer, and The Foschini Group (TFG). 

 

Read the full article here: https://mybroadband.co.za/news/banking/561668-tymebank-pays-off.html

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