Former finance minister and Reserve Bank governor Tito Mboweni died on Saturday, 12 October 2024. He was 65.
Story Summary:
- Tito Mboweni, South Africa’s former finance minister and Reserve Bank governor, passed away at the age of 65 following a short illness.
- Mboweni was known for his significant contributions to post-apartheid labour laws and economic reforms.
- His family requested privacy as they come to terms with the loss.
Tito Mboweni dies: What’s the cause of death?
Mboweni’s family announced his death late on Saturday, 12 October 2024, in a statement expressing their grief.
The family revealed that Mboweni died in a Johannesburg hospital, surrounded by loved ones.
Further details about his illness remain unclear, but the family requested privacy as they come to terms with his passing.
Additional information regarding funeral arrangements and public memorials is expected in the coming days.
Tito Mboweni biography
Tito Titus Mboweni was born on 16 March 1959 in Tzaneen, Limpopo.
He went into exile in 1980, joining the African National Congress (ANC) and pursuing his studies abroad. He earned a Master of Arts in Development Economics from the University of East Anglia in England.
Upon returning to South Africa, Mboweni played a significant role in shaping the country’s post-apartheid labour laws during his time as Minister of Labour from 1994 to 1998.
In 1999, Mboweni became the first black governor of the South African Reserve Bank (SARB), a position he held for a decade.
His tenure was marked by the introduction of inflation targeting to stabilize the economy. He continued his involvement in politics and public service, returning as South Africa’s finance minister in 2018 under President Cyril Ramaphosa.
Mboweni’s three-year stint in this role was characterized by his efforts to introduce economic reforms and cut the country’s soaring debt. He retired from politics in August 2021.
Beyond his political career, Mboweni was active in the private sector, serving as an advisor to Goldman Sachs and as chairman of several major companies.
His economic expertise and leadership made him a respected figure both locally and internationally.
Reactions to Mboweni’s death
As news of Tito Mboweni’s death spreads, tributes from political figures, the business community, and the public are expected to pour in.
Reactions from social media will be included as they become available.
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