Former minister Tito Mboweni dies at 65

Former finance minister and Reserve Bank governor Tito Mboweni has died.

His family released a statement late on Saturday night announcing his passing. Mboweni was 65 years old.

“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,” the statement read.

Mboweni became the first black governor of the SARB, succeeding Chris Stals in 1999 to serve for a decade. Before that, he served in Nelson Mandela’s cabinet as labour minister between 1994 and 1999.

Mboweni made a return to active politics in 2018 when President Cyril Ramaphosa appointed him finance minister. He retired in August 2021.

The Mboweni family has requested privacy “at this difficult time as they come to terms with this enormous loss. Further details will be released over the next few days.” -news24.com