Former finance minister and Reserve Bank governor, Tito Mboweni, has passed away at the age of 65. His family confirmed his death in a statement released late on Saturday night, revealing that Mboweni had succumbed to a short illness. He died in a Johannesburg hospital, surrounded by his loved ones.
“It is with deep sadness that the Mboweni Family announces the passing of former Reserve Bank governor and minister of finance Tito Titus Mboweni. The family is devastated by governor Mboweni’s passing after a short illness. He passed away in hospital in Johannesburg on Saturday night surrounded by his loved ones,” read the family’s statement.
Mboweni’s career was marked by significant contributions to South Africa’s political and financial landscape. He made history by becoming the first black governor of the South African Reserve Bank (SARB), a position he held for a decade, from 1999 to 2009. He succeeded Chris Stals in 1999 and played a crucial role in shaping the country’s monetary policy during a transformative period in post-apartheid South Africa.
Before his appointment as SARB governor, Mboweni had already left his mark in government. He served as the minister of labour in Nelson Mandela’s cabinet from 1994 to 1999, helping to shape key labour laws and policies aimed at improving workers’ rights and promoting fair labour practices in the new democratic South Africa.
In 2018, Mboweni returned to active politics when President Cyril Ramaphosa appointed him as the country’s finance minister, a role he held until his retirement in August 2021. During his tenure as finance minister, Mboweni was known for his pragmatic approach to fiscal management and his often candid and sometimes unconventional statements on economic issues.https://twitter.com/pmcafrica/status/1845204952454410485?s=19
Despite his retirement, Mboweni remained a prominent figure in South Africa, frequently offering his insights on economic and political matters, often through social media. His passion for cooking, particularly his culinary experiments with tinned fish, became a lighthearted feature of his online presence, endearing him to many South Africans.
The family has requested privacy during this challenging time, as they come to terms with the loss of a beloved figure. They have indicated that further details regarding Mboweni’s memorial service and funeral arrangements will be shared in the coming days.
Mboweni’s death has sparked an outpouring of tributes from various sectors, with political leaders, business figures, and ordinary citizens expressing their condolences. Many have hailed him as a trailblazer who made a lasting impact on the country’s financial system and governance.
In reflecting on his legacy, Tito Mboweni will be remembered not only for his contributions to the South African Reserve Bank and his time as finance minister, but also for his role in shaping the country’s post-apartheid economic framework. His leadership and dedication to public service have left an indelible mark on South Africa.
The passing of Mboweni marks the end of a chapter in South Africa’s political and financial history, and his contributions will continue to be felt in the years to come. The nation mourns the loss of a distinguished leader whose influence extended far beyond his official capacities, impacting the lives of millions.