[LISTEN] Motsepe’s ARC to own SA’s first black-owned bank

August 10, 2018 11:21 am Published by Leave your thoughts

JOHANNESBURG – TymeDigital Bank CEO Sandile Shabalala says the aim of South Africa’s first black-owned commercial bank will be to service the underserved sector and to broaden the reach of financial services.

Billionaire Patrice Motsepe’s African Rainbow Capital (ARC) will soon own 100% of TymeDigital, which is expected to open later this year.

Shabalala says the bank will aggressively target unbanked and underserved South Africans as well as small and medium-sized businesses.

Listen to the audio above for more.

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