South Africa’s former finance minister, labor minister, and the first Black governor of the South African Reserve Bank, Tito Mboweni, has passed away at the age of 65 after a brief illness. The announcement was made by the presidency late on Saturday.
Mboweni, a prominent anti-apartheid activist during his student years, played a pivotal role in shaping South Africa’s post-apartheid future. He served as the nation’s first labor minister from 1994 to 1999 under President Nelson Mandela, a period that was critical to the country’s democratic transition. He later took on the role of governor of the South African Reserve Bank from 1999, where he served for a decade, before returning to government as finance minister from 2018 to 2021 under President Cyril Ramaphosa.
The African National Congress (ANC), Mboweni’s party, highlighted his significant contributions in its tribute:
“His role in shaping our democratic future, particularly during the dying days of apartheid, cannot be overstated,” the ANC stated, describing him as a “trusted voice in the economic debates that framed the transition to democracy.”
As labor minister, Mboweni was instrumental in the creation of post-apartheid labor legislation that laid the groundwork for collective bargaining and the establishment of labor courts to protect worker rights, the ANC said.
During his tenure as governor of the Reserve Bank, Mboweni introduced inflation targeting, a key policy designed to maintain price stability in the South African economy. His leadership in this role helped to steer the country’s economic direction during a challenging period of transition.
A close ally of President Cyril Ramaphosa, Mboweni also served on the ANC’s National Executive Committee, contributing to high-level decisions within the party.
President Ramaphosa expressed his shock and sorrow at the loss of Mboweni, highlighting his vitality and deep engagement with the people of South Africa.
“Given his sense of vitality and energetic and affable engagement with fellow South Africans, Dr. Mboweni’s passing at 65 comes as a shock,” Ramaphosa said in a statement. “We have lost a leader and compatriot who has served our nation as an activist, economic policy innovator, and champion of labor rights.”
(Reuters)
