South Africa: David Pfaff, new boss of TymeBank

The digital bank TymeBank announced, Monday, March 15, to have appointed David Pfaff to the positions of CEO and CFO of the group. The new boss officially took office on March 1, 2021.

David Pfaff is taking over the management as the structure has already raised 1.6 billion rand ($ 108 million) from portfolio management companies Apis Growth Fund II and JG Summit Holdings. An initiative which essentially falls within the framework of solidifying its portfolio in order to diversify its offer.

The newly promoted will have the heavy burden of implementing TymeBank’s new innovative consumer credit product, called MoreTyme. But the institution can count on David Pfaff, who has extensive experience in retail credit.

The manager has experience in finance and retail operations. He previously served as COO and CFO during his eight years at clothing retailer Truworths. During his time at Truworths, he was responsible for several operations including credit risk and finance and information technology.

Officially launched in February 2019, TymeBank SA is a member of the Tyme group of companies, headquartered in Singapore.

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