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Business Maverick

Former finance minister Tito Mboweni dies following short illness

The Mboweni family issued a statement just after 10pm on Saturday night confirming that Tito Mboweni - ANC stalwart, former finance minister and former governor of the South African Reserve Bank - had died following a short illness.
Former finance minister Tito Mboweni dies following short illness

“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 by Mboweni’s brother, Alto.

Further details will be released over the next few days.

An illustrious career


Mboweni (65) had an impressive CV in the new South Africa. He started out as labour minister under former president Nelson Mandela’s reign in 1994. He was the eighth governor of the SA Reserve Bank and the first black governor, serving for 10 years after his appointment in 1999.

In 2010, he entered the private sector as an international adviser to Goldman Sachs and held several director positions, including chair of AngloGold Ashanti.

In October 2018, he returned to public service as finance minister under President Cyril Ramaphosa and resigned in August 2021.

Read more in Daily Maverick: Mboweni’s sudden death highlights an enormous contribution and a sad loss

Well-loved on X (Twitter), where he became infamous for his recipe posts - including a traditional, simple meal of tinned pilchards - he last posted a meal on 23 September, with the simple statement: “This is how it ended. I enjoyed them bones. Home-cooked meals are great.”

His death comes barely a month after the passing of another ANC freedom fighter titan, Pravin Gordhan, who also served as finance minister. DM

Comments (5)

ttshililo2 Oct 13, 2024, 07:44 PM

Being embraced by the South African private sector (with an infinite history of blk exploitation) along with fat board fees and a growing personal balance sheet would of course make him regret such laws. He did brilliantly in that ministry despite his alleged regrets.

jimcobbe@gmail.com Oct 13, 2024, 01:58 PM

I knew Tito in Lesotho, and last saw him when he was Minister of Labour and showed up in his old leather jacket at a talk I was giving at an academic conference. He was one of the greats of his generation who had represented the ANC well in exile. South Africa deserves more leaders of his quality.

Arnold O Managra Oct 13, 2024, 01:51 PM

Condolences and RIP. One of the genuine good guys.

Lil Mars Oct 13, 2024, 09:26 AM

Rest in peace. Condolences to the family. A great South African.

Noelsoyizwaphi@gmail.com Oct 13, 2024, 07:18 AM

Have missed your independent mind in our politics. May you Rest in peace