TymeBank has received approval from the South African Reserve Bank’s Prudential Authority to appoint Cheslyn Jacobs as its new Chief Executive Officer, effective 1 January 2026. Jacobs takes over from Karl Westvig, who joined the leadership team in 2023 and will remain involved as an advisor to support the bank’s growth strategy.
A founding member of TymeBank, Jacobs brings extensive institutional knowledge and has played a central role in shaping the bank since its early stages. His appointment signals a new phase for the digital bank, marked by intensified innovation, an enhanced customer experience, and sustainable expansion.
“Cheslyn’s deep understanding of our customers, strategy, and people uniquely positions him to lead TymeBank into its next era,” said Thabani Jali, Chairman of TymeBank Holdings. “As we mature as a business, it’s time to compete even harder for market share. With Cheslyn at the helm and our strong team behind him, TymeBank is positioned to deliver even greater value for customers and partners.”
Since launching in 2019, TymeBank has grown into one of South Africa’s leading digital banks, surpassing 11 million customers and pioneering accessible, technology-driven banking. Jali also praised outgoing CEO Westvig for strengthening the bank’s commercial capabilities, expanding its SME offering, and laying essential groundwork for long-term success. Westvig notably oversaw the integration of Retail Capital into the Tyme ecosystem and advanced the Sanlam partnership, which he will continue to support in an advisory capacity.
Jacobs and Westvig will collaborate over a three-month handover period from January 2026 to ensure a smooth leadership transition. Reflecting on his tenure, Westvig said, “It’s been a privilege to lead TymeBank through a period of strong growth. The business now enters an exciting phase, and I look forward to supporting the team as TymeBank expands its brand and strengthens strategic partnerships.”
Jacobs emphasised continuity and ambition in his vision for the bank, reaffirming its mission to reshape banking and expand financial access. He holds a BCom from the University of the Western Cape and a Postgraduate Diploma in Business Management from GIBS. Since joining Tyme in 2012, Jacobs has held several leadership roles, most recently serving as Chief Commercial Officer, where he drove revenue and business growth.
//Staff writer
