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Our Council
PASA Council is the governing body, accountable for achieving PASA’s objectives ensuring that PASA’s vision, mission and values are implemented and upheld.
Council is responsible for the effective governance of PASA and its structures. It delegates powers to Council Committees to assist it with executing its responsibilities.
The ExCo is responsible for PASA’s day-to-day business management and operations, which includes the execution of strategy and managing risk.
The PASA Constitution mandates the CEO to establish project steering committees to assist with the management and implementation of PASA projects.
PASA’s Council is composed of Councillors drawn from PASA’s Members. While they are appointed by Members, Councillors hold a fiduciary responsibility, meaning they must act independently and objectively, prioritising the best interests of the National Payment System (NPS) with a holistic and inclusive mindset. Consequently, PASA Council bears the crucial responsibility of ensuring an efficient, reliable, and stable payments environment that serves the South African economy and its people as a whole.
PASA Council is comprised of an Independent Chairperson who holds a casting vote, as well as nine Councillors appointed by:
- Any Member with a throughput representing more than 10 % of the total value and volume cleared through the interbank systems during the previous year. In practice, this currently adds up to four voting Members;
- Three Members elected by the rest of the members (commonly referred to as the ‘lower volume and value banks’) as voting Members;
- The Chief Executive Officer of PASA as a voting Member; and
- The SARB as a non-voting Member
Councillors and the Deputy Chairperson are appointed on a biannual basis from among PASA Members.
At present PASA Council is constituted of the following Councillors:
- The Governing body of PASA;
- Appointed by Members
- But not to represent Members
PASA Council has power and authority to, inter alia:
- Govern PASA
- Amend the Constitution
- Direct PASA to withdraw or to reinstate a Member’s status of good standing
- Dissolve PASA (subject to the approval of the Reserve Bank)
- Constitute, establish, maintain or dissolve any PASA Structure
At present PASA Council is constituted of the following Councillors:
USEFUL LINKS
Sydney Gericke
Independent Chair
Joined Council:
August 2018
Qualifications:
BCom (Hons);
MCom;
Advanced Management Programme (INSEAD, France);
Executive Management Programme
(Duke University, USA)
Ingrid Goodspeed
Chairperson
Joined Council:
February 2017
Qualifications:
CD(SA);
LLB;
MBL (Cum Laude);
BCom (Hons)(Economics);
BCom (Accounting and Economics)
Herman Singh
Deputy Chairperson
Joined Council:
May 2021
Qualifications:
BSc (Engineering) Wits;
GDE (Industrial Engineering) (Wits); MBA (Wits Business School)
Fay Mukaddam
Independent Councillor
Joined Council:
June 2023
Qualifications:
LLB University of Durban Westville; BA University of Natal –
Durban Campus;
Advocate of the High Court of SA
Thami Moatshe
Independent Councilor
Joined Council:
June 2023
Qualifications:
MBA;
MMFI;
PMP;
BCom (Hons)
Ghita Erling
Ex Officio Councillor – Chief Executive Officer
Joined Council:
November 2020
Qualifications:
MSC (Eng);
BSc (Cum Laude);
Executive Development Programme (Wits);
Dip (ABRSM)
Tim Masela
SARB Ex Officio Councillor
Joined Council:
August 2012
Qualifications:
MCom;
Bcom;
Graduate Diploma in Computer Audit;
Senior Executive Programme (Harvard)
Shaun Rayfield
SARB Ex Officio Alternate Councillor
Joined Council:
October 2018
Qualifications:
Bcom Money and Banking
Charl Smedley
*Absa Bank appointed Councillor
Joined Council:
August 2020
Qualifications:
Strategic Project Management (Unisa); Graduate Diploma in Marketing Management; Certificate in Marketing Management
*Until October 2023
Richard Stocken
Absa Bank appointed Councillor
Joined Council:
December 2023
Qualifications:
BSC Chemical Engineering (UKZN); MSC Industrial Engineering (Wits)
Gabriella Teixeira
Absa Bank appointed Alternate Councillor
Joined Council:
May 2018
Qualifications:
Bcom (Distinction);
Green Belt Lean Six Sigma; Financial Market Instruments; Executive Leadership Diploma (Gibs)
Jill Murtagh
Bidvest Bank appointed Councillor
Joined Council:
March 2015
Qualifications:
Associate Diploma in Banking;
Advanced Diploma in Banking;
Project Management Diploma
Nolwazi Dlamini
*Bidvest Bank appointed Alternate Councillor
Joined Council:
June 2022
Qualifications:
PDBA;
Risk Management (Unisa);
B Tech (International Audit)
Until June 2023
Busi Radebe
Capitec Bank appointed Councillor
Joined Council:
May 2022
Qualifications:
Postgraduate Certificate in AI and Machine Learning; MBA; BSc Electro-Mechanical Engineering; National Diploma Metalliferous Mining
Marthinus Janse Van Rensburg
Capitec Bank appointed Alternate Councillor
Joined Council:
April 2009
Qualifications:
BCom;
LLB
Megan Brown
First Rand Bank appointed Councillor
Joined Council:
February 2017
Qualifications:
CA(SA); CFA;
Postgraduate Diploma in Accounting (UCT);
BA Business Science (Finance) (Hons) (UCT)
Boitumelo Legabe
First Rand Bank appointed Alternate Councillor
Joined Council:
February 2024
Qualifications:
BCom (Hons) – BM (Unisa)
John Elliott
Investec Bank appointed Councillor
Joined Council:
October 2018
Qualifications:
BBusSc (Hons)
Gerald Byleveld
Investec Bank appointed Alternate Councillor
Joined Council:
September 2022
Qualifications:
Fellow-Association of Chartered Certified Accountants (UK); Certified Anti-Money Laundering Specialist (ACAMS);
MBA (Cum Laude);
Certified Internal Auditor (Institute of Internal Auditors)
Ian Carter
Nedbank appointed Councillor
Joined Council:
February 2014
Qualifications:
BCom Financial Management (University of KwaZulu-Natal); Asset and Liability Management (INSEAD);
International Executive Development Programme (Wits Business School)
Marijke Guest
Nedbank appointed Alternate Councillor
Joined Council:
October 2018
Qualifications:
MBA
John Anderson
Standard Bank appointed Councillor
Joined Council:
October 2018
Qualifications:
Bcom;
Master of Business Administration (MBA) (Henley Business School)
Rufaida Hamilton
Standard Bank appointed Alternate Councillor
Joined Council:
September 2009
Qualifications:
BCom (Hons);
LLB;
BA;
Harvard Business School Alumna
COUNCIL COMMITTEES
In line with the King lV requirements PASA Council has a number of supporting committees.
PASA Council uses four permanent Council Committees comprising Councillors with experience or expertise in these fields to assist the governing body in effectively fulfilling its responsibilities.
Council Committees have formal constitutions and are adequately and effectively mandated to assist PASA Council in executing its responsibilities.
