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The first black governor of South Africa’s central bank and former finance minister, Tito Mboweni, has died at the age of 65. The presidency announced his passing on Saturday evening, citing a “short illness” but providing no further details.
President Cyril Ramaphosa expressed sorrow over Mboweni’s death, stating, “We have lost a leader and compatriot who has served our nation as an activist, economic policy innovator, and champion of labor rights.” Mboweni’s family expressed their devastation, noting that he died in a Johannesburg hospital surrounded by loved ones.
A former anti-apartheid activist, Mboweni spent nearly a decade in exile in Lesotho, where he pursued his education before earning a master’s degree from the University of East Anglia in the UK. In later years, he remarked, “I suppose you can call me an exile kid, and an international kid born in South Africa.” He emphasized his disdain for narrow nationalism and xenophobia, stating, “My home is in South Africa, Lesotho, Mozambique, the United Kingdom, Zambia, Angola, Tanzania, Swaziland, the USA, Switzerland, and everywhere I stayed in my youth.”
Returning to South Africa in 1990, Mboweni served as the first labor minister under President Nelson Mandela, playing a pivotal role in crafting post-apartheid labor laws that established collective bargaining agreements and labor courts to safeguard workers’ rights. He was known for his principled stance and willingness to engage in open debates, as noted by News 24. His preference for wearing worn clothing contributed to his earnest public image.
During his decade as governor of the Reserve Bank, Mboweni received acclaim for his management, earning the title of central bank governor of the year from the financial magazine Euromoney, which praised his success in controlling inflation. Afterward, he transitioned to the private sector, including a role as an international adviser for Goldman Sachs.
In recent years, Mboweni served as finance minister in President Ramaphosa’s government from 2018 to 2021, where he was recognized for stabilizing the economy. Despite previously suggesting that it was time for new leadership, he accepted the position. He once humorously noted on X (formerly Twitter), “Against the wisdom of my team, please don’t tell them this. It’s between us, I am not available for minister of finance.”
In his later years, Mboweni endeared himself to South Africans with his relaxed lifestyle and humorous cooking posts, sharing recipes and engaging with followers on social media. Following the news of his death, one follower remarked, “He’s left shoes too big to fill.”
