Tito Mboweni, the former finance minister and South African Reserve Bank governor, has passed away at the age of 65 following a brief illness. His family confirmed the sad news in a statement released on Saturday evening, revealing that Mboweni died in a Johannesburg hospital, surrounded by close family members.
Mboweni was a towering figure in South African politics and economic policy, contributing immensely to the country’s post-apartheid transformation. As South Africa’s first minister of labour, serving in Nelson Mandela’s cabinet from 1994 to 1999, Mboweni helped shape critical policies that empowered workers and advanced social justice. His tenure as the governor of the South African Reserve Bank from 1999 to 2009 was marked by a steady hand guiding the country’s financial stability through a decade of significant global and local economic shifts. His expertise once again became central to the nation’s governance when President Cyril Ramaphosa appointed him finance minister in 2018, a position he held until 2021, where he focused on fiscal discipline and economic reforms.
In 2022, Mboweni transitioned from politics to the private sector, assuming advisory roles, most notably with Goldman Sachs Group, while chairing AngloGold Ashanti and serving on several corporate boards. His wealth of experience ensured his continued influence in both national and global economic spheres.
Reacting to Mboweni’s death, President Ramaphosa expressed deep shock, extending his condolences to the Mboweni family. He emphasized Mboweni’s role as a leader and compatriot who had served South Africa with unwavering dedication. “Tito Mboweni’s vitality and his warm, engaging personality made his sudden passing hard to comprehend. He was a leader who not only championed fiscal prudence but also represented South Africa’s broader interests on the global stage,” Ramaphosa said.
The African National Congress (ANC) honored Mboweni’s legacy of service, describing him as a man whose life was committed to the advancement of South Africa and its people. “Comrade Tito’s contribution to the country’s economic development and his enduring connection with the people will be remembered for years to come,” said ANC spokesperson Mahlengi Bhengu-Motsiri. She highlighted his lasting influence, noting that his dedication to public service and innovation had left an indelible mark on the nation.
The Economic Freedom Fighters (EFF), despite often opposing Mboweni’s economic views, particularly his neoliberal approach, acknowledged his openness to intellectual debate and his readiness to explore unconventional policy options. The party paid tribute to Mboweni’s ability to engage in critical discussions, even when positions differed.
Beyond his formal roles in government and business, Mboweni was a familiar and beloved figure on social media, where he often shared personal stories, including his passion for cooking and his pride in his cultural roots in Modjadjiskloof. His ability to connect with South Africans on lighter topics added a unique dimension to his public persona.
As South Africa reflects on the life and contributions of Tito Mboweni, his family has requested privacy during this time of mourning. His legacy as a key player in South Africa’s economic and political spheres will continue to resonate with those he served and inspired throughout his remarkable career.
