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October 15, 2024President Cyril Ramaphosa has expressed his condolences following the passing of former Minister and Reserve Bank Governor Tito Mboweni, who died on Saturday evening after a short illness at the age of 65.
The President described Mboweni as a dedicated leader and influential figure in South Africa’s political and economic spheres. “We have lost a leader and compatriot, who has served our nation as an activist, economic policy innovator, and champion of labour rights,” he said.
Mboweni held several prominent roles throughout his career, including serving as Minister of Labour in the first democratically elected Cabinet from 1994 to 1999. He later became the Governor of the South African Reserve Bank from 1999 to 2009, playing a key role in guiding the country’s monetary policy. His final official position was as the Minister of Finance in Ramaphosa’s administration from 2018 to 2021, where he emphasized fiscal discipline and economic transformation. Mboweni resigned from Parliament on 1 February 2022.
Ramaphosa praised Mboweni for his efforts in both public service and the private sector, as well as his contribution to international forums. He noted Mboweni’s approachable nature and popularity on social media, where he shared his culinary interests.
A Legacy of Activism and Economic Leadership
Born on 16 March 1959 in Tzaneen, Limpopo, Mboweni was the youngest of three children. He attended the University of the North but left South Africa in 1980 to join the African National Congress (ANC) in exile in Lesotho. There, he earned a Bachelor of Arts (Hons) in Economics and Political Science from the National University of Lesotho in 1985, followed by a Master of Arts in Development Economics from the University of East Anglia in England in 1988.
Mboweni’s career included significant roles within the ANC, such as Deputy Head of the Department of Economic Policy and chairperson of the Economic Transformation Committee, where he helped shape the party’s economic policies. He was also a member of the ANC’s National Executive and National Working Committees.
The passing of Tito Mboweni marks a profound loss for the nation, with President Ramaphosa highlighting his enduring impact on South Africa’s political landscape and economic policy.