29 May 2025 • 2 minute read
DLA Piper advises on Sanlam TymeBank retail credit joint venture
DLA Piper is advising Sanlam Life (Sanlam) and Sanlam Personal Loans (SPL) on the establishment of a retail credit joint venture (JV) with TymeBank.
This new JV will offer unsecured personal loans with an embedded credit life offering, providing cross-selling opportunities between the entities' complementary customer bases in South Africa.
Sanlam is a South African diversified financial services company with a strong presence in 31 countries across Africa and a niche presence in Asia. They offer a wide range of products and services, including insurance, investments, financial planning, and wealth management, aiming to promote financial inclusion and sustainable investment.
TymeBank is a leading digital bank active across various developing markets including South Africa. It is known for its extensive retail partnerships and innovative banking solutions providing access to banking services that traditional banking does not offer.
The transaction is subject to the usual regulatory conditions.
A team from DLA Piper's Johannesburg office worked on the transaction led by Johannes Gouws, Country Managing Partner for South Africa. He was supported by Corporate partner Amy Eliason and senior associate Callie-Jo Bouman.
Johannes Gouws, Country Managing Partner for DLA Piper in South Africa, commented: "Advising on this joint venture has been an excellent opportunity to facilitate a strategic partnership that leverages the strengths of both Sanlam and TymeBank. The transaction represents a significant development in the unsecured lending market in South Africa."
With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 15 consecutive years, is number 1 across Africa and the Middle East by M&A deal volume for two years, according to Mergermarket, and number one in M&A in combined global deal volume according to PitchBook.