GoTyme Bank Set to Reward Employees with Equity Shares

South African digital bank GoTyme has announced plans to offer stock options to over 2,000 employees across all levels. This move comes as the company prepares for a potential public listing on the Johannesburg Stock Exchange (JSE).

The employee stock ownership plan (ESOP) will allow staff to benefit directly from any future growth, aligning their interests with the company’s success. GoTyme CEO Cheslyn Jacobs indicated that employees can expect similar benefits to those seen at global tech companies like Google, where early employees became millionaires through IPO payouts.

Why This Matters for African Tech Talent

This announcement highlights a growing trend in Africa’s startup ecosystem: the use of ESOPs to attract and retain talent. Similar programs have created financial windfalls for former employees at companies like Moniepoint and Arnergy.

For GoTyme, the move signals confidence in its future prospects as it approaches what Jacobs described as a “much shorter three-to-four-year horizon” for an IPO—potentially reaching a multi-billion dollar valuation.