#71: TymeBank - How the South African Neobank is integrating digital and physical experiences to provide holistic financial services across emerging markets

Afrobility: Africa Tech and Business

Overview: Today, we’re going to explore TymeBank - the South African neobank. We’ll discuss the story across the following areas:

• African & Nigerian banking context

• TymeBank's launch, early history, growth & fundraising

• Product & monetization strategy

• Competitive positioning & potential exit options

• Overall outlook.

Companies discussed: TymeBank, African Rainbow Capital (ARC), MTN, Kuda Bank, Chipper Cash, FairMoney, Carbon, Discovery Bank, Branch, Pick N Pay, TakeAlot, Commonwealth Bank of Australia, Bank Zero, Naspers & NuBank

Business concepts discussed: International expansion, Startups and Distribution, Deposit banking, International expansion, Data sovereignty,

Conversation highlights:

• (00:30) - TymeBank context

• (08:15) - Context of African Banking

• (24:20) - TymeBank founding story

• (52:20) - Fundraising

• (55:01) - Growth and geographical expansion

• (1:20:03) - Product & Monetization Strategy

• (1:50:08) - Competition and options for Exit

• (2:00:33) - Bankole’s overall thoughts and outlook

• (2:10:38) - Olumide’s overall thoughts and outlook

• (2:15:00) - Recommendations and small wins

Olumide’s recommendations & small wins:

• Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at [e-mail]. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at [e-mail]

• Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook)

• Recommendation: AI 2041: Ten Visions for Our Future (Kai-Fu Lee): Great book about the potential of AI told across 10 stories

• Recommendation: Dangote (song by Burna Boy). Incredible song

• Recommendation: Good Bad Boy (song by Lil Kesh). Catchy and smooth chorus. With a deeper meaning about searching for companionship

• Small win: I was in NYC book launch for FIREDOM Book launch. Dope.

Bankole’s recommendations & small wins:

• Recommendation: Plunder by Brendan Ballou - A book on the excesses of Private Equity. PE is an example of well-intentioned policy having (unintentional?) downstream impact.

• Recommendation: Business Breakdown Podcast on Mobile Gaming: The uneven distribution of paying customers in mobile gaming reminds me of emerging market telco companies

• Small win: Quest 3 Headset! VR is coming along nicely.

• Other content: TymeBank Holdings 2022 Financial Statement & Substack on the history of Tyme Global

Listeners: We’d love to hear from you. Email [e-mail] with feedback!

Founders & Operators: We'd love to hear about what you're working on, email us at [e-mail]

Investors: It would be great to link up with you. Contact us at [e-mail]

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