Former finance minister and South African Reserve Bank (SARB) governor, Tito Mboweni, has passed away at the age of 65. His family announced his death late on Saturday night, revealing that Mboweni succumbed to a short illness while surrounded by loved ones at a hospital in Johannesburg.
“It is with deep sadness that the Mboweni family announces the passing of former Reserve Bank governor and minister of finance Tito Titus Mboweni. The family is devastated by governor Mboweni’s passing after a short illness,” the statement read.
Mboweni holds a significant place in South Africa’s history, becoming the first Black governor of the South African Reserve Bank in 1999, succeeding Chris Stals. He served in this role for a decade, a period that solidified his influence in the country’s financial landscape. Before his tenure at SARB, Mboweni was part of Nelson Mandela’s cabinet, serving as Minister of Labour from 1994 to 1999, playing a key role in post-apartheid economic policy formation.
In 2018, Mboweni returned to active politics when President Cyril Ramaphosa appointed him as finance minister, a role he held until his retirement in August 2021.
The Mboweni family has requested privacy during this difficult time, with further details about memorial arrangements expected to be announced in the coming days.