GoTyme Bank has introduced a long-term employee ownership programme as the digital bank steps up efforts to attract and keep skilled workers in South Africa’s growing fintech industry.
The bank, which is backed by South African billionaire Patrice Motsepe, said employees will now be able to benefit directly from the company’s long-term growth through a Long-Term Incentive Programme (LTIP).
Speaking to TechCabal, GoTyme Bank CEO Cheslyn Jacobs said the programme was created to ensure workers share in the value they help build over time.
“The programme gives qualifying employees the opportunity to participate in the value created over time and reflects our belief that the people building the business should share in its success,” Jacobs said.
The move reflects a wider trend across South Africa’s fintech sector, where companies are increasingly using employee ownership schemes to compete for skilled talent. Instead of relying only on high salaries or workplace perks, many firms are now offering staff a financial stake in the business.
South Africa’s Department of Trade, Industry and Competition says employee share ownership plans have benefited more than 211,000 workers since 2019, with around R3.3 billion, or about $201 million, paid out in dividends during that period.
Major companies including Vodacom and Old Mutual have already introduced similar programmes, while more businesses continue to explore employee equity plans.
GoTyme said its programme is designed to encourage long-term thinking, strengthen staff loyalty, and build a stronger ownership culture across the organisation.
The bank confirmed that employees who have worked at the company for more than six months will be eligible to participate in the scheme.
Some workers say the programme has already changed how they see their role within the company.
“Being shareholders has given us a whole new perspective on the business,” said Lindelani Nxumalo, a customer service representative at the bank.
“We’re no longer simply contributing to GoTyme Bank’s growth. We’re sharing in it.”
Senior staff members also described the programme as a sign that the company values employees as part of its long-term future.
“It’s incredibly motivating to work at a company such as GoTyme Bank that sees employees as part of its long-term future,” said Lee-Anne Kalam.
GoTyme did not reveal how much ownership has been allocated to employees, but Jacobs said the programme is aimed at supporting retention and long-term alignment between staff, customers, and shareholders.
The bank’s decision comes as competition for digital and fintech talent continues to increase across Africa. Fast-growing startups and financial technology firms are under pressure not only to expand quickly, but also to hold on to experienced workers as they prepare for larger growth stages and possible stock market listings.
Companies such as Lesaka, Absa Bank, and Capitec have also experimented with share-linked reward systems, though many of these programmes have mainly focused on senior executives.
GoTyme currently serves more than 21 million customers across South Africa and the Philippines. While the Philippines remains its largest growth market, the bank said South Africa continues to perform strongly despite tough competition in the country’s banking industry.
Although Jacobs did not directly connect the employee ownership programme to future IPO plans, he admitted the company is entering a more mature stage of growth.
“The timing reflects the maturity and momentum of the business more than any single future event,” he said. “We are building for the long term.”
