Tito Mboweni, South Africa’s first Black central bank governor and former finance minister, has passed away at 65 after a brief illness, as confirmed by the presidency.
President Cyril Ramaphosa mourned Mboweni as a dedicated leader and activist, highlighting his significant contributions to the nation’s economic policy and labor rights. Mboweni’s family expressed their devastation over his loss, noting he died in a Johannesburg hospital surrounded by loved ones.
A former anti-apartheid activist, Mboweni spent nearly a decade in exile in Lesotho, where he studied at university, later earning a Master’s degree from the University of East Anglia in the UK. He once described himself as an “exile kid,” emphasizing his deep connection to South Africa while also embracing the diverse places that shaped him.
Returning to South Africa in 1990, Mboweni became the first labor minister under Nelson Mandela, instrumental in developing post-apartheid labor laws that established protections for workers. Known for his principled approach and willingness to engage in open debate, he was recognized for his authenticity, often seen in well-worn clothing that reflected his earnest character.
During his decade as the governor of the Reserve Bank, he was lauded for his effectiveness, earning accolades such as Euromoney’s central bank governor of the year for his success in controlling inflation. Afterward, he worked in the private sector, including a role at Goldman Sachs.
As finance minister from 2018 to 2021, Mboweni played a crucial role in stabilizing the economy, despite initially believing it was time for new leadership. He famously shared on social media that he was ready to step aside for younger voices, though he ultimately accepted the position.
In his later years, Mboweni won hearts with his relaxed lifestyle and humorous cooking posts on social media, where he connected with followers and shared recipes. One follower poignantly remarked after his passing, “He’s left shoes too big to fill.”