Digital bank TymeBank has received approval from the South African Reserve Bank’s Prudential Authority to appoint Cheslyn Jacobs as its new CEO, effective January 1, 2026. Jacobs will succeed Karl Westvig, who has been with the bank’s leadership since 2023 and will continue to serve in an advisory capacity to support the bank’s ongoing growth.

“It’s been a privilege to lead TymeBank through a period of solid growth and transformation. The business is now entering [a] new phase, and I look forward to continuing to support the team,” Westvig said on November 3.

Jacobs, a TymeBank founding team member, brings institutional knowledge and leadership experience, having played an integral role in building the business.

Jacobs, who previously worked at Standard Bank and Deloitte, has a BCom in Industrial Psychology from the University of the Western Cape and a Postgraduate Diploma in Business Management from the University of Pretoria’s Gordon Institute of Business Science.

He joined Tyme in 2012 as sales and distribution manager, later becoming national operations manager at Tyme Infield. He was appointed head of sales and services in 2019, the year TymeBank launched, and was promoted to chief commercial officer in 2022, accountable for driving revenue generation and business growth.

Since its launch, TymeBank has grown its customer base to more than 11-million.

“[Jacobs’] deep understanding of our customers, strategy, and people uniquely positions him to lead TymeBank into its next era. It’s time to compete even harder for market share as we mature as a business,” TymeBank chairperson Thabani Jali said.

He noted that Westvig’s tenure had strengthened the bank’s commercial offering and small business focus, while bolstering its customer base and building a foundation for sustainable growth.

“[Westvig] was pivotal in integrating the Retail Capital business into the Tyme ecosystem. His leadership has been integral to building a strong foundation for TymeBank’s future success. . . He will continue to contribute in an advisory role, particularly with the Sanlam partnership,” Jali added.

From January 1, Jacobs and Westvig will work closely together for the next three months to ensure a smooth transition.

  “As we move into this next chapter . . . I’m excited to build on the . . . foundation our team has created,” Jacobs said.