Reuters exclusively reports S.African upstart bank teams up with JG Summit to expand into Philippines

Reuters exclusively reported that South African digital bank Tyme has raised $110 million in private capital and linked up with JG Summit, one of the biggest conglomerates in the Philippines, to apply for a local digital bank licence. Tyme, majority-owned by South African billionaire Patrice Motsepe, will use most of the money, mainly from private equity fund Apis Partners, to expand TymeBank in South Africa, Coen Jonker, co-founder and executive chairman of Tyme, told Reuters.