He leaves behind a familiar feeling of what might have been for the team.
Walter was at the helm for two years and led the side to the final of last year's T20 World Cup, where they threw away a commanding position to lose to India in the decider.
They also made the semifinals of the 50-over World Cup in 2023 and at the recent ICC Champions Trophy in Pakistan and Dubai.
"The players, support staff, and the South African cricketing community have been fantastic throughout this journey. While it’s time for me to step away, I have no doubt that the team will continue to grow and reach even greater heights," Walter said in a media release from Cricket South Africa (CSA).
Walter coached the Otago Volts for five years, beginning in 2016.
At the conclusion of the 2020/21 summer, he moved to take the coaching job at the Central Stags, while also gaining international experience with the New Zealand A team in 2022.
He departed for South Africa to take the head coach role of its limited-overs team in January 2023.
South Africa will co-host the next 50-over World Cup in 2027 with Namibia and Zimbabwe. CSA has not yet named Walter's replacement for Walter.
South Africa have made the final of the World Test Championship where they will face Australia at Lord’s from June 11-15. That side is coached by Shukri Conrad.
Their next limited overs assignment is an all-format tour to Zimbabwe in July, which will also include New Zealand in a T20 tri-series. They will also tour Australia and England this year.
- Reuters with additional reporting by APL
