TymeBank: Acquire SME funder Retail Capital
- TymeBank majority shareholder is African Rainbow Capital, a fully black-owned and controlled investment company
- Set to bolster its business banking offering with a series of new initiatives, key of which is the proposed acquisition of Retail Capital
- The acquisition, which is subject to regulatory approvals, would see Retail Capital become a division
- This acquisition will enable to expand its offering to entrepreneurs to include working capital finance
- Retail Capital has acquired significant risk management experience over the past decade
- Retail Capital’s product offering to small businesses requires a flexible source of low-cost capital
