RIP; Tito Mboweni Death, Former South African Minister of finance passed awa at age 65

Former South African Minister of finance Tito Mboweni has sadly passed away. He died on Saturday 12th October 2024 at the age of 65 surrounded by his beloved family after a courageous battle with cancer.  Tito Mboweni, born on March 16, 1959, in Tzaneen, Limpopo Province, has had a remarkable career marked by resilience, leadership, and commitment to South Africa’s economic development. His early life in Tzaneen laid the foundation for a journey that would see him emerge as a key figure in South African politics and economics.

Mboweni began his higher education at the University of the North, where he registered for a Bachelor of Commerce degree between 1979 and 1980. However, his studies were cut short when he left South Africa to go into exile in 1980 due to the oppressive political climate. This significant move would shape the course of his life and career.

During his time in exile in Lesotho, Mboweni became actively involved with the African National Congress (ANC), participating in various capacities to promote the party’s goals. His commitment to the struggle for freedom and democracy in South Africa was unwavering. In 1985, he earned a Bachelor of Arts (Hons) in economics and political science from the National University of Lesotho. Mboweni continued his academic pursuits, obtaining a Master of Arts in Development Economics from the University of East Anglia in England in 1988.

Mboweni’s expertise in economics and his dedication to the ANC led him to influential roles within the party and the broader economic landscape of South Africa. From 1999 to 2009, he served as the eighth Governor of the South African Reserve Bank, making history as the first Black South African to hold this prestigious position. During his tenure, he focused on monetary policy and financial stability, helping to navigate South Africa through a complex economic landscape.

After a decade at the Reserve Bank, Mboweni transitioned to a prominent political role when he was sworn in as Minister of Finance on October 9, 2018, following the resignation of Nhlanhla Nene. His appointment was seen as a strategic move to stabilize the country’s fiscal policies and bolster economic growth.

In addition to his roles in government, Mboweni is a founding member of Mboweni Brothers Investment Holdings, showcasing his entrepreneurial spirit and commitment to economic development. His expertise has also extended to international finance, having served as an international advisor for Goldman Sachs International. Furthermore, he was appointed as a non-executive Director for South Africa at the New Development Bank (commonly known as the BRICS Development Bank), reflecting his ongoing influence in both local and global economic spheres.

Tito Mboweni’s obituary will be released by the family

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