Former South African finance minister and Reserve Bank governor, Tito Mboweni, has passed away at the age of 65, leaving the nation in mourning.
Mboweni’s family released a statement late on Saturday night confirming his death.
“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. He passed away in hospital in Johannesburg on Saturday night, surrounded by his loved ones,” reads the statement.
Tito Mboweni made history in South Africa in 1999. He became the first black governor of the South African Reserve Bank (SARB). He held the position for a decade. Before that, he served as minister of labour in Nelson Mandela’s cabinet from 1994 to 1999.
In 2018, Mboweni returned to South African politics when President Cyril Ramaphosa appointed him as finance minister. During his tenure, he was often compared to Malawi’s iconic finance minister, Goodall Gondwe.
Mboweni retired from the position in August 2021.
