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RIP: Former Minister Tito Mboweni has died

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RIP: Former Minister Tito Mboweni has died

It’s with a heavy heart that we share the news of the passing of Tito Mboweni, the former finance minister and Reserve Bank governor of South Africa. The Mboweni family announced his death late Saturday night, revealing that he was 65 years old and had been battling a short illness. He passed away in a Johannesburg hospital, surrounded by his loved ones—a poignant reminder of the importance of family during life’s toughest moments.

Mboweni was a trailblazer in many ways. He made history as the first black governor of the South African Reserve Bank (SARB), stepping into the role in 1999 and serving for a decade. His tenure was marked by a commitment to stabilizing the economy and navigating the complexities of post-apartheid financial systems. Before his time at the SARB, he held the position of Minister of Labour in Nelson Mandela’s cabinet from 1994 to 1999, playing a key role in shaping labor policies during a transformative period for the nation.

His political journey didn’t end there. Mboweni returned to the political arena in 2018 when President Cyril Ramaphosa appointed him as finance minister—a role that came with its own set of challenges, especially as the country faced economic hurdles. He retired from this position in August 2021, leaving behind a legacy of resilience and commitment to public service.

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Tito Mboweni, South Africa’s finance minister, pauses during a news conference before presenting his mid-term budget to parliament in Cape Town, South Africa, on Wednesday, Oct. 24, 2018. Mbowenis appointment as South Africas finance minister two weeks ago appeased investors, but his first mid-term budget showed the nations debt burden is heavier than they previously thought. Photographer: Waldo Swiegers/Bloomberg via Getty Images

The family has requested privacy as they navigate this difficult time, and they’ve expressed their devastation at the loss of a beloved father, brother, and leader. In their statement, they mentioned that further details will be shared in the coming days, allowing us to honor Mboweni’s memory in the way he deserves.

Tito Mboweni’s impact on South Africa’s economic landscape and his role in shaping the nation’s financial policies will not be forgotten. As we reflect on his contributions, let’s also remember the man behind the titles—a person who dedicated his life to public service and made strides for future generations.

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