Tito Mboweni, South Africa’s first black central bank governor and former finance minister, has passed away at the age of 65 following a brief illness, as confirmed by the presidency.
President Cyril Ramaphosa expressed sorrow over Mboweni’s death, stating, “We have lost a leader and compatriot who served our nation as an activist, economic policy innovator, and champion of labor rights.” Mboweni’s family described themselves as “devastated,” noting that he died in a Johannesburg hospital surrounded by loved ones.
An anti-apartheid activist, Mboweni spent nearly a decade in exile in Lesotho, where he attended university before earning a master’s degree from the University of East Anglia in the UK. He often referred to himself as an “exile kid” and embraced a broad view of identity, rejecting narrow nationalism and xenophobia.
Mboweni returned to South Africa in 1990 and became the first labor minister under President Nelson Mandela, significantly influencing post-apartheid labor laws that established collective bargaining and labor courts.
Known for his principled stance and openness to debate, Mboweni’s informal style, often donning old clothes, further endeared him to the public. As governor of the Reserve Bank for a decade, he received accolades for successfully controlling inflation, including being named Central Bank Governor of the Year by Euromoney.
After his tenure at the Reserve Bank, Mboweni worked in the private sector as an international adviser for Goldman Sachs. He served as finance minister from 2018 to 2021, where he was credited with stabilizing the economy, despite previously expressing a desire for younger leadership in cabinet roles.
In his later years, Mboweni became a beloved figure on social media, sharing humorous cooking posts and engaging with followers. One admirer remarked, “He’s left shoes too big to fill,” reflecting the impact he made on South Africa.
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