AFRICAN RAINBOW CAPITAL INVESTMENTS LIMITED - Regulatory approval secured to acquire TymeDigital

Regulatory approval secured to acquire TymeDigital

African Rainbow Capital Investments Limited  
(Incorporated in the Republic of Mauritius)  
(Registration number C148430)  
JSE share code: AIL  
ISIN: MU0553S00000  
(“ARC Investments” or “the Company”) 
 
Regulatory approval secured to acquire TymeDigital 
 
Further to the announcement released on the Stock Exchange News Service of the JSE Limited on 8 
August 2018, ARC Investments today announces that its controlling shareholder African Rainbow 
Capital (ARC) has obtained approval from the Prudential Authority of the South African Reserve Bank 
to acquire 90% of TymeDigital by Commonwealth Bank SA (“TymeDigital”). 

The acquisition is to be effected through ARC’s 50,1% held subsidiary, ARC Financial Holding Company 
(FinHoldCo), following which FinHoldCo will become the 100% owner of TymeDigital. The ARC Fund, 
an en commandite partnership in which ARC Investments is a limited partner, holds 49.9% of 
FinHoldCo. 

TymeDigital is a registered South African bank with a strong fintech focus. It was previously majority 
owned by the Commonwealth Bank of Australia (CBA), a leading banking group in its core markets of 
Australia and New Zealand. FinHoldCo previously held a 10% shareholding in TymeDigital. 

All necessary regulatory approvals for the acquisition have been obtained, including approval from 
the Competition Commission and the acquisition is therefore unconditional. 

TymeDigital will change its name to TymeBank when it officially launches to the South African public. 
 
Ebène, Mauritius (with simultaneous circulation in Johannesburg) 
2 November 2018 
 
Sponsor 
RAND MERCHANT BANK (A division of FirstRand Bank Limited) 
 
For further information on African Rainbow Capital Investments, please visit our website at 
www.arci.mu  
 




 

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