GoTyme Bank Ltd., backed by Patrice Motsepe, granted stock options to all employees.
As a result, the fast-growing digital lender is actively expanding across Africa and Asia.
Employee Ownership Drive GoTyme Bank Offer
Chief Executive Officer Cheslyn Jacobs announced the move in Johannesburg on Thursday night.
Bloomberg reported that Jacobs disclosed the plan at an industry event.
He explained that the initiative aims to help employees think like long-term business owners.
In addition, Jacobs said the bank remains in a high-growth phase and rewards staff fairly.
“We want our staff to behave like owners,” he said during his speech.
He added that hyper-growth should create meaningful financial benefits for employees.
Customer Growth Expansion
GoTyme now adds about 450,000 new customers each month in South Africa and the Philippines.
Consequently, the bank now serves more than 21 million customers across its markets.
African Rainbow Capital Investments, Motsepe’s investment firm, majority-owns the bank.
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Furthermore, Tencent Holdings supports the bank through strategic partnerships.
The bank also operates a joint venture with the Gokongwei Group in the Philippines.
Meanwhile, GoTyme has expanded into Hong Kong, Indonesia, Vietnam and Singapore.
Listing Plans And Valuation
Jacobs confirmed that the bank still plans a future stock exchange listing.
However, he said the company now treats the timeline as flexible, not fixed.
“We want to be listing-ready in three to four years,” he said.
He stressed that the bank will proceed only if conditions make sense.
The bank expects a listing after it reaches around 50 million customers.
GoTyme reached a $1.5 billion valuation after a 2024 funding round.
In that round, Nu Holdings invested $150 million into the company.
Jacobs said the bank continues to move toward a record annual profit.
Meanwhile, Patrice Motsepe remains one of Africa’s most influential business leaders.
He built wealth through African Rainbow Minerals and mining investments.
In addition, he serves as president of the Confederation of African Football.
