The Prudential Authority of the South African Reserve Bank has sanctioned TymeBank’s selection of Cheslyn Jacobs as its incoming chief executive, commencing 1 January 2026. According to the bank’s official statement. Jacobs will assume the role from Karl Westvig, a key figure in the leadership since 2023, who will transition to an advisory position to facilitate continuity.
As a foundational member of TymeBank, Jacobs possesses extensive institutional insight and executive acumen, having been instrumental in the institution’s development from inception. His elevation signals a fresh phase emphasising heightened innovation, superior customer engagement, and enduring expansion for the digital lender.
Chairman Thabani Jali commended Jacobs for his profound grasp of the bank’s clientele, overarching objectives, and workforce, positioning him ideally to steer the organisation forward. With Jacobs at the forefront and a dynamic team revolutionising access to finance for South Africans, TymeBank anticipates delivering amplified benefits to its users and collaborators.
To ensure a seamless handover, Jacobs will collaborate intensively with Westvig for three months post-appointment. This internal promotion underscores TymeBank’s robust leadership pipeline and dedication to operational stability.
TymeBank has positioned itself as a challenger to traditional banking norms, prioritising inclusivity for underserved populations. Jacobs expressed enthusiasm for advancing this mission, with an intensified emphasis on user satisfaction, building upon the solid groundwork laid by the collective efforts of the staff.
Jacobs earned a Bachelor of Commerce in Industrial Psychology from the University of the Western Cape and a Postgraduate Diploma in Business Management from the Gordon Institute of Business Science at the University of Pretoria. His career trajectory includes stints at Standard Bank and Deloitte before joining TymeBank in 2012 as sales and distribution manager.
He progressed to national operations manager at Tyme Infield, then head of sales and services in 2019—the year TymeBank launched publicly. By 2022, he advanced to chief commercial officer, overseeing revenue streams and expansion initiatives.
Jali highlighted Westvig’s instrumental contributions in refining TymeBank’s commercial propositions and SME emphasis, alongside expanding its clientele and establishing a resilient growth platform. Notably, Westvig spearheaded the assimilation of Retail Capital into the Tyme framework.
TymeBank, a subsidiary of the Tyme Group and backed by Patrice Motsepe’s African Rainbow Capital, has amassed over eight million customers since its 2019 debut, pioneering fee-free digital banking in a market where seventy per cent of adults hold accounts. As reported by FinMark Trust. With deposits exceeding R10 billion and a push into Philippines and Vietnam, Jacobs’s stewardship promises to accelerate its trajectory in South Africa’s R2 trillion banking sector.