After five years of distinguished leadership, Nischal Mewalall has announced his decision to step down as Chief Executive Officer (CEO) of SABRIC (South African Banking Risk Information Centre) to pursue personal aspirations. The SABRIC Board, employees, and stakeholders have expressed their profound gratitude for his visionary guidance and steadfast dedication to the organization.
Mewalall took the helm during one of the most turbulent periods in recent history, the COVID-19 pandemic and national lockdown. Despite these challenges, he provided strategic stability, ensuring SABRIC not only weathered the crisis but emerged as a stronger, more digitally transformed entity.
Under his leadership, SABRIC evolved into a technology-driven organization, better equipped to combat financial crime and fraud. His forward-thinking strategies also strengthened public-private partnerships, bolstering South Africa’s defenses against cyber and financial threats.
Bongi Kunene, SABRIC Board Chairperson, praised his contributions: “Nischal has been pivotal in reshaping SABRIC into an innovative, future-ready institution. His leadership during uncertain times was extraordinary, and his legacy will continue to benefit the industry for years to come. We respect his decision to explore new opportunities and wish him great success in his future endeavors.”
Reflecting on his tenure, Mewalall said: “Leading SABRIC has been an immense privilege. I am proud of our collective achievements—transforming the organization, advancing digital innovation, and reinforcing South Africa’s fraud prevention capabilities. I depart with full confidence in SABRIC’s continued growth and extend my deepest gratitude to the Board, our exceptional team, and our partners for their unwavering support.”
The SABRIC Board has begun the process of appointing a new CEO and will share further details in due course. In the interim, SABRIC remains steadfast in its mission to combat financial crime through collaboration, innovation, and cutting-edge technology.
