President Cyril Ramaphosa says he is deeply saddened by the passing of former Governor of the South African Reserve Bank and Finance Minister Tito Mboweni.
According to the family statement, Mboweni died on Saturday night following a short illness.
Mboweni was born on 16 March 1959.
He was South Africa’s first Minister of Labour from 1994 to 1999 in the Cabinet of former President Nelson Mandela.
President Ramaphosa says the country has lost a leader and compatriot.
“We have lost a leader and compatriot who has served our nation as an activist, economic policy innovator and champion of labour rights. As Governor and Finance Minister, he had a sharp focus on fiscal discipline and economic transformation. Tito Mboweni distinguished himself in different strategic roles in the private sector and was a flag bearer in global forums for our economy and developing economies more broadly,” says the President in a statement.
The former finance minister obtained a Bachelor of Arts degree in economics and political science from the National University of Lesotho in 1985.
In 1987 he obtained a Master of Arts degree in development economics from the University of East Anglia in England.
During his tenure as Reserve Bank governor, he was appointed Honorary Professor of Economics at the University of South Africa from 2000 – 2003.
The President says Mboweni distinguished himself in different strategic roles in the private sector and was a flag bearer in global forums for our economy and developing economies more broadly.
65-years-old Mboweni served as the South African Reserve Bank Governor for a decade.
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