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

Business & Finance

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.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Equities

Regions: AfricaMiddle East

Countries: SingaporeSouth Africa

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story

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