Sanlam has teamed up with TymeBank, aiming to rename the latter into GoTyme, for the launch of a co-branded application.

This collaboration intends to introduce a superapp that consolidates various financial services such as digital banking, payment transfers to airtime, data purchases, bill payments, and credit facilities. Combining TymeBank’s expertise in digital innovation with Sanlam’s wealth management experience, the partnership aims to enhance access to and the usability of financial services for South Africans.

Superapp for everyday financial tasks

The app is crafted to streamline money management and integrate digital finance into regular routines. This venture signifies a pivotal shift in Africa’s journey towards digital finance as institutions strive to blend technology with traditional banking methods. Partnerships like Sanlam’s with TymeBank are expected to drive future advancements in financial inclusion and digital innovation on the continent.

According to Endeavor South Africa, such alliances demonstrate how collaboration between fintech companies and financial institutions can create greater value, foster innovation, and boost market growth. This underscores that partnership rather than competition is key to progress in the fintech sector.

Sanlam’s investment in TymeBank

In 2024, Sanlam purchased a 25% stake in the entity owning TymeBank, African Rainbow Capital Financial Services Holdings. The transaction was appraised at USD 218 million and was intended to provide Sanlam with a higher-returning investment while also allowing it to utilize TymeBank’s distribution network to sell insurance products to South Africa’s broader populace.

TymeBank plans to rename itself as GoTyme in the first half of 2026, although the exact details are yet to be finalized after undergoing internal and regulatory approvals. Upon completion, more information will be shared publicly.