South Africa’s former finance and labour minister and first black central bank governor Tito Mboweni has died aged 65, following a brief illness, the presidency confirmed late on Saturday.
Mboweni was an anti-apartheid activist from his student years before later becoming democratic South Africa’s first labour minister from 1994 to 1999 under former President Nelson Mandela.
His progression from the labour ministry saw him serve as governor of the South African Reserve Bank for a decade from 1999, and nine years later as the finance minister from 2018 to 2021 under President Cyril Ramaphosa.
“His role in shaping our democratic future particularly during the dying days of apartheid, cannot be overstated,” the ANC (African National Congress) said in a statement.
Describing his death at the age of 65 as a shock, Ramaphosa has this to say: “Given his sense of vitality and energetic and affable engagement with fellow South Africans, Dr Mboweni’s passing at 65 comes as a shock. We have lost a leader and compatriot who has served our nation as an activist, economic policy innovator and champion of labour rights.
“As governor and Finance Minister, he had a sharp focus on fiscal discipline and economic transformation.”
7 leadership qualities South Africans would remember Tito Mboweni for
Remembered for laudable contributions he made in the economy and the labour sector, below are some of the greatest qualities South Africans would remember Tito Mboweni’s gigantic legacy for:
1. A pioneer for workers rights
Mboweni helped establish the post-apartheid labour legislation that lay the foundation for collective bargaining and labour courts to uphold worker rights, the ANC said. This sentence were shared in a statement by the South Africa Federation of Trade Unions (SAFTU), describing him as pioneer of the current labour market regime. The union highlighted his role in driving the introduction of the Labour Relations Act, Basic Conditions of Employment Act that gave workers the floor of basic but fundamental rights. He also played a critical role in the amendments to the Mines Health Safety Act to allow mine workers the right to refuse to do dangerous work.
“Tito Mboweni was a trade unionist who belonged to the South African Congress of Trade Unions and played a critical role in mobilising the international trade union movement to support the struggles of the South African workers for freedom and for their mere recognition as workers instead of just being the tools in employers’ pursuit of super profits,” SAFTU.
2. Lauded for bringing inflation under control
“He (Mboweni) was very clear in his mind that the runway inflation reduces poor household income. Their capacity to buy goods in the market get eroded if the inflation is high. He was very interested in making sure that our macroeconomic policy does protect your income so that it doesn’t get eroded – by runaway inflation,” Deputy Minister of Finance David Masondo said in an interview with Newzroom Afrika.
Under Mboweni’s watch as the South African Reserve Bank Governor, he showed the doubting Thomases that South Africa can make a continuous commitment to a low rate of inflation. Under his leadership, the bank was one of the first central banks in the world to announce monetary policy decisions about interest rates. As such, he led the move away from the “eclectic” inflation targeting monetary policy framework to formal inflation targeting. As noted by By Ed Stoddard and Tim Cohen pointed in a recent Daily Maverick article, if not for this approach, South Africa’s economy would be in a far more parlous state than it is now.
Mboweni also introduced the central bank’s Monetary Policy Forums, where the public can engage the senior leadership of the central bank on monetary policy.
As Daily Maverick’s Ed Stoddard and Tim Cohen pointed in a recent article, if not for approach, South Africa’s economy would be in a far more parlous state than it is now.
3. Open to robust debates
“While we often found ourselves at odds with our former Minister on policy matters—disagreeing with his neoliberal and orthodox approach to economic policy—and engaged in heated debates, Dr. Mboweni was always open to robust, frank, and intellectual exchanges. Despite our differences, he did not shy away from engaging in rigorous debate,” EFF said in a statement.
4. Advocate for youth leadership
Throughout his career, Mboweni championed youth leadership. He often highlighted the importance of involving young people in top government posts alongside experienced leaders.
A good example of this would be in 2018 when he was offered the finance minister post by President Ramaphosa, saying he initially did not want to take up the position. “Against the wisdom of my team, please don’t tell them this. It’s between us, I am not available for minister of finance. You cannot recycle the same people all over again. It is time for young people. We are available for advisory roles. Not cabinet. We have done that,” he wrote on Twitter lbefore later accepting the post.
In his view, the drive and innovative mind of young people, working alongside seasoned leaders, were critical for building sustainable governance.
5. A humble and cheerful man
“Tito Mboweni was – despite being an excellent SARB governor and Finance Minister – a humble and cheerful man. He brought so much joy by sharing his cooking, knowing full well he’d be teased and his X timeline is full of praise for people trying their best. This is such a loss,” journalist Karyn Maughan said.
Her sentiments were shared by X user @Joy_zelda stating: “One thing about Former Minister of Finance Tito Mboweni he made us believe his living the cheapest and modest life, He dressed like a hobo,and cook tin fish, garlic and chicken daily. He was the best never bragged about been wealthy ever he was the coolest on our TL.”
Mboweni’s penchant for wearing battered old clothes and shoes only added to his earnest public profile.
6. A man of integrity
Recounting her dealings with the late struggle activist and businessman, who she had identified as a mentor after her appointment as the Mayor of Johannesburg, Mpho Phalatse had this to say: “Through and through he was a man of integrity, an honorable man. What an incredible patriot, who loved his country. He also loved his party, the African National Congress, but he was a reasonable man, he didn’t put politics ahead of what was good for the country, that’s why I could work with him even though I was not a member of the ANC.”
Alan Mukoki, CEO of the South African Chamber of Commerce and Industry, gave us a glimpse into his admirable character, said: “Throughout the years and in various high-profile roles Mr Mboweni led, from Labour Minister, Reserve Bank Governor, and recently Finance Minister, we found him to be a man who operated with integrity. He was known to have a sharp intellect, was transparent in his dealings with collective business, and had a deep understanding of matters affecting his portfolios, South Africa and its economy and its challenges.”
Describing Mboweni as a highly principled man, DW Africa correspondent Christine Mhundwa said: “One of the things that can said about him is that he’s going go down in history books as a principled man … somebody who stood according to his principles. In a country where there’s a death of leadership of his caliber, where so many senior politicians, particularly from the ANC have been marred in corruption scandals, this is one individual who people are saying this is the leadership that we so long longed for in the country where these kind of leaders are becoming absolutely rare.”
7. Champion of continental integration
Elsewhere outside the borders of South Africa, Mboweni was remembered by the President of Rwanda Paul Kagame as a giant voice for Africa and a champion of continental integration. “His counsel was invaluable in the effort of reforming the African Union, and in recent years he dedicated his energy to implementing the reform as chair of the AU Peace Fund. His legacy will live on for generations to come,” Kagame shared on X.
