Publications
Partners
Johannesburg - The National Credit Regulator (NCR) announced Friday that CEO Gabriel Davel will be stepping down from his position with effect from January 1 2011.
Davel has been with the NCR since its inception in 2006 and was a key contributor in the development of the National Credit Act (NCA), its implementation and in steering the NCR during its critical establishment phase.
"I've enjoyed the challenges at the NCR and believe that it has made an important contribution in establishing a more equitable, fair and transparent credit market which has an important role to play in improving the livelihoods of all South Africans," said Davel. "While it's been an exciting journey, I now look forward to new challenges."
Davel was previously CEO of the Micro Finance Regulatory Council (MFRC) and a partner with Deloitte & Touche before that.
"In his role as CEO, Davel brought extensive knowledge and experience of the consumer credit industry to the NCR," said the regulator's chairperson, Advocate Pansy Tlakula.
"He not only helped to establish the regulator, but guided it through the recession, ensuring that it fulfilled its role of protecting consumers and regulating the market during this difficult time."
Under Davel's tenure, the NCR has seen huge progress in implementing the NCA. Progress has been made in virtually all areas of the NCR's mandate. These range from registration of credit providers, credit bureaus and debt counsellors, establishment of a broad education strategy and an effective complaints and investigations team through to the publication of credit industry statistics designed to improve the statistical basis to assess consumer credit market trends and levels of debt stress. The NCR received clean audit reports for every year since its establishment.
It was during his term that the task team on debt counselling was appointed. The implementation of its recommendations will go a long way towards easing the challenges faced in debt counselling.
The department of trade and industry, in conjunction with the NCR's board, has already commenced with a process to recruit a new CEO.
Davel has been with the NCR since its inception in 2006 and was a key contributor in the development of the National Credit Act (NCA), its implementation and in steering the NCR during its critical establishment phase.
"I've enjoyed the challenges at the NCR and believe that it has made an important contribution in establishing a more equitable, fair and transparent credit market which has an important role to play in improving the livelihoods of all South Africans," said Davel. "While it's been an exciting journey, I now look forward to new challenges."
Davel was previously CEO of the Micro Finance Regulatory Council (MFRC) and a partner with Deloitte & Touche before that.
"In his role as CEO, Davel brought extensive knowledge and experience of the consumer credit industry to the NCR," said the regulator's chairperson, Advocate Pansy Tlakula.
"He not only helped to establish the regulator, but guided it through the recession, ensuring that it fulfilled its role of protecting consumers and regulating the market during this difficult time."
Under Davel's tenure, the NCR has seen huge progress in implementing the NCA. Progress has been made in virtually all areas of the NCR's mandate. These range from registration of credit providers, credit bureaus and debt counsellors, establishment of a broad education strategy and an effective complaints and investigations team through to the publication of credit industry statistics designed to improve the statistical basis to assess consumer credit market trends and levels of debt stress. The NCR received clean audit reports for every year since its establishment.
It was during his term that the task team on debt counselling was appointed. The implementation of its recommendations will go a long way towards easing the challenges faced in debt counselling.
The department of trade and industry, in conjunction with the NCR's board, has already commenced with a process to recruit a new CEO.
