Former finance minister Tito Mboweni poses for a photo at Magoebaskloof Hotel on 15 September 2021 in Tzaneen, South Africa. Picture: Gallo Images/Rapport/Elizabeth Sejake
The death of former finance minister Tito Mboweni has left many South Africans in shock.
After waking up to the news on Sunday morning, many have expressed their admiration for the contribution he made to the country.
Mboweni, who also served as Reserve Bank governor, passed away on Saturday at the age of 65.
“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,” his family said.
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Messages of condolences have since flooded in.
President Cyril Ramaphosa said the country has lost a leader who “served our nation as an activist, economic policy innovator and champion of labour rights”.
“Tito Mboweni distinguished himself in different strategic roles in the private sector and was a flag bearer in global forums for our economy and developing economies more broadly.
The president also mentioned Mboweni’s frequent social media posts where he showed off his cooking skills.
“He conducted himself with expert rigour while maintaining the personable touch that made him a social media star and ambassador for Modjadjiskloof’s culinary traditions.”
ANC Secretary-General Fikile Mbalula said Mboweni “left an indelible mark on our country”.
“His contributions to South Africa’s growth and stability will be remembered with gratitude.”
The ANC said in a statement that Mboweni was a “testament to a life lived in sacrifice, dedication and selfless service to the people of South Africa”.
ANC spokesperson Mahlengi Bhengu-Motsiri said Mboweni was a “critical architect of South Africa’s post-apartheid labour legislation” and his tenure as the first black governor of the South African Reserve Bank “marked a crucial moment in our country’s financial history”.
“Comrade Tito’s last service in the executive came when he was appointed Minister of Finance in 2018 by President Ramaphosa. Though his term was brief, he guided the country’s economic policy during a critical period following the departure of his predecessor [Nhlanhla Nene].”
Finance Minister Enoch Godongwana said he was lost for words and heartbroken.
“We have lost a titan. A thinker, a doer, and above all a patriot,” said Godongwana. “It is hard to imagine the grief felt by those closest to him. Our thoughts are with them during this difficult time.”
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The EFF said though it was often at odds with the former finance minister, it appreciated that he was always open to having frank and intellectual debates.
“Despite our differences, he did not shy away from engaging in rigorous debate.
“Notably, Dr Mboweni advocated for the creation of a state-owned bank, a sovereign wealth fund, and the nationalisation of the South African Reserve Bank, as articulated in one of his social media posts that became a defining point in our debates with him, as this came as a surprise.”
EFF leader Julius Malema said he will cherish their long phone calls and respected his genuine stance on matters.
Rise Mzansi said Mboweni’s “legacy lies in the fruits of his labour”.
“As a freedom fighter, he was one of many who ensured we become a democracy. As a young Minister of Labour, he shepherded comprehensive labour market reforms that reduced man hours lost to strikes, protected the rights of workers and ensured their bargaining power was entrenched in our statutes.”
It also praised the way he tackled mammoth tasks as Reserve Bank governor.
He “wrestled legacy issues such as nearly non-existent foreign reserves depleted under the previous apartheid administration; and changes to monetary and foreign exchange policy reforms.
“From a repo rate of 23.5% in 1999 and unemployment of more than 32% at the dawn of democracy, Tito was an integral part of South Africa’s macroeconomic management system that saw a reduction to inflation and interest rates, and significant economic growth at one point exceeding 5%, leading to a reduction in unemployment to 21% in less than a decade.”
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The DA said it was mourning his passing. “We extend our heartfelt condolences to the Mboweni family, friends, and colleagues. His contributions to SA’s economic landscape and democracy will be remembered.”
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