TymeBank, backed by Africa’s first Black billionaire Patrice Motsepe, hits 10-million-customer milestone
The bank, backed by Motsepe, has rapidly expanded since its launch in 2019, transforming the financial landscape in South Africa and beyond.
The bank, backed by Motsepe, has rapidly expanded since its launch in 2019, transforming the financial landscape in South Africa and beyond.
Motsepe owns an indirect 27-percent stake in ARC, contributing to his status as Africa’s first richest man.
The dividend payout reflects a 25-percent decrease from the R1.08-billion ($60.3 million) dividend he received the previous year.
The move is part of a broader strategy to capitalize on growth opportunities in one of the world’s fastest-growing major economies.
ARM, led by Africa’s first Black billionaire Patrice Motsepe, reports its lowest profit in seven years due to rising costs and a tough operating environment.
Sanlam, partly owned by Patrice Motsepe, reports a $636-million profit for the first half of 2024, fueled by strong performance across its diverse business segments.
Sanlam Life, a subsidiary of Africa's leading insurer Sanlam, has announced plans to acquire a 25-percent stake in ARC Financial Services Holdings.