After five years as CEO of the South African Banking Risk Information Centre (SABRIC), Nischal Mewalall has decided to step down, according to a statement released by the organisation.
SABRIC said Mewalall made the decision to pursue personal aspirations.
The organisation credited the CEO for providing stability and strategic direction amid the COVID-19 pandemic and lockdown, adding: “Under his stewardship, SABRIC underwent a significant digital transformation, becoming a more technology-driven organisation strategically positioned to combat financial crime and fraud. His forward-thinking approach strengthened partnerships between the public and private sectors, enhancing South Africa's collective resilience against cyber and financial threats.”
Board chairperson Bongi Kunene stated: "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 added: "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 said it will announce further details in due course.
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