South Africa Bids Goodbye to Tito Mboweni: Funeral Scheduled for Saturday

Johannesburg – Tributes continue to pour in for former Finance Minister Tito Mboweni, who passed away on 12 October 2024 at the age of 65, after a brief illness.

Mboweni died in a Johannesburg hospital, leaving behind a legacy as one of South Africa’s most influential post-apartheid economic architects.

Mboweni, who served as Minister of Finance under President Cyril Ramaphosa from 2018 to 2021, will be laid to rest on Saturday. He was known for his sharp intellect and economic reforms, serving as the first Black Governor of the South African Reserve Bank from 1999 to 2009.

“We have lost a giant,” said President Ramaphosa in a statement, calling Mboweni’s contribution to South Africa “immeasurable.” He noted that Mboweni’s role in stabilizing the country’s economy and advancing inclusive growth would remain his lasting legacy.

The late Tito Mboweni was also a certified Twitter chef, captivating followers with his impressive cooking skills.

Born in Tzaneen, Limpopo, on 16 March 1959, Mboweni was active in the African National Congress (ANC) during the fight against apartheid and went into exile in Lesotho, where he obtained a degree in economics and political science.

He later earned a Master’s in Development Economics from the University of East Anglia in England. His work as Minister of Labour in Nelson Mandela’s government was pivotal, as he crafted South Africa’s post-apartheid labour laws, ensuring collective bargaining rights and the establishment of labour courts.

During his tenure as Reserve Bank Governor, Mboweni introduced the inflation-targeting policy to promote price stability and navigate economic shocks. He later joined the private sector, serving as an international advisor for Goldman Sachs and holding various directorships.

Despite controversies and clashes with his party over economic reforms during his time as finance minister, Mboweni’s forward-thinking approach earned him praise in the business community. His proposed plans for economic recovery and cutting state spending were both hailed and criticized for their liberal approach to South Africa’s deeply embedded socialist policies.

Mboweni’s passing has been met with an outpouring of grief from across the political spectrum.

“He was a man of strong convictions, a leader who pushed for what he believed was best for our country,” said Enoch Godongwana, Mboweni’s successor as finance minister.

Mboweni’s family has asked for privacy during this time as they prepare for his funeral, which will take place on Saturday.

Mboweni leaves behind a lasting mark on South Africa’s political and economic landscape, remembered for his deep commitment to the country’s growth and his indomitable spirit.