Tito Mboweni, the first black governor of the South African Reserve Bank and later finance minister has passed away.
Mboweni passed away “in a hospital in Johannesburg surrounded by his loved ones” on Saturday, according to local media reports.
South African President Cyril Ramaphosa expressed sorrow over the loss of a leader who championed economic innovation and labour rights.
Mboweni was an anti-apartheid activist who spent nearly a decade in exile in Lesotho and obtained a Master’s degree from the University of East Anglia in the UK.
Upon returning to South Africa in 1990, he became the first labour minister under Nelson Mandela and played a part in shaping post-apartheid labour laws.
Known for his principled stance and openness to debate, he gained public affection for his humble attire and engaging personality.
Mboweni served as governor for ten years and was recognized for successfully controlling inflation, earning accolades like “Central Bank Governor of the Year.”
After his tenure at the Reserve Bank, he worked with Goldman Sachs as an international adviser.
As finance minister from 2018 to 2021, he played a crucial role in stabilizing the economy, despite earlier expressing a desire for new leadership.
In his later years, he became popular for his humorous cooking posts and interactions with followers, reflecting a laidback lifestyle.
One X follower remarked after learning of Mboweni’s death, “He’s left shoes too big to fill”.
More: Pindula News