Moneyweb reports that Gabriel Davel will step down as the CEO of the National Credit Regulator, the governing body of the National Credit Act. Apparently Davel will step down from the 1st Janaury 2011. Davel has proved a very proactive CEO, appointed since the inception of the office of the National Credit Regulator in 2006. However the one thing that Davel has not succeed in doing is getting the badly needed amendment of the National Credit Act (see the article here) and this something that we certainly hope any new CEO will push very hard for. We also hope that the new CEO is an industrious individual and no a government bureaucrat or political appointment as the office is very important to the effective operation of credit in the South African economic and the protection of consumer’s rights.

Davel is quoted in the Moneyweb as saying:

“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.”

The article goes on to say:

“Tshediso Matona, Director General at the Department of Trade and Industry (dti), commented that a solid base has been laid by the CEO and management team in regulating the industry and that the dti will continue to support the NCR to ensure regulatory certainty. “In setting up the NCR, Mr Davel inaugurated the path-breaking regulation represented by the National Credit Act, and did so with commitment, passion and rare expertise. As the dti, we thank him for his contribution, and wish him well in his future endeavours”.

He confirmed that the dti, in conjunction with the NCR’s Board, has already commenced with a process to recruit a new CEO.”

Read the Full Moneyweb Article