JG Summit acquires stake in South Africa-based digital bank Tyme
By TED CORDERO, GMA News Published February 23, 2021 11:26am Gokongwei-led conglomerate JG Summit Holdings Inc. has acquired a stake in South Africa-based digital bank Tyme, which is eyeing markets in developing economies particularly in Southeast Asia. In a disclosure to the Philippine Stock Exchange on Tuesday, JG Summit said it has taken part in an estimated P5.3-billion or $110-million investment in Tyme, along with Apis Growth Fund II, a private equity fund managed by Apis Partners LLP, and South African investment holdings company African Rainbow Capital (ARC). Tyme, whose intern...