Nischal Mewalall is stepping down as CEO of South African Banking Risk Information Centre (Sabric) to pursue personal aspirations.
Mewalall was appointed during the Covid-19 pandemic and lockdown, helping the organisation to not only navigate the crisis but emerge stronger.
Under his stewardship, Sabric underwent a digital transformation, becoming more technology-driven and strategically positioned to better combat financial crime and fraud.
Sabric board chairperson Bongi Kunene states: “Nischal has been instrumental in shaping Sabric into a forward-looking, innovative organisation. His leadership during turbulent times was nothing short of remarkable, and his legacy will continue to benefit the industry for years to come. We respect his decision to pursue new endeavours and wish him every success in his future pursuits.”
Mewalall comments: “Leading Sabric has been an incredible privilege. I am proud of what we have achieved together, transforming the organisation, driving digital innovation, and fortifying South Africa’s defences against fraud. I leave with confidence in Sabric’s continued success and extend my heartfelt thanks to the Board, our dedicated team, and our partners for their unwavering support.”
The board has initiated a process to identify a successor and will announce further details in due course.