Tito Mboweni's passing: Ramaphosa mourns loss of 'economic flag bearer'

The ANC says the life of the late former minister of finance Tito Mboweni  was a testament to one that was lived in sacrifice, dedication, and selfless service to the people of SA.

Mboweni, who is also the former Governor of the South African Reserve Bank, died on Saturday. He was 65-years-old.

President Cyril Ramaphosa described Mboweni's death as a shock saying he distinguished himself in different strategic roles and was a flag bearer in global forums for SA's economy and developing economies.

"He conducted himself with expert riguour while maintaining the personable touch that made him a social media  star and ambassador for Modjadjiskloof's culinary traditions. He is passing is a great loss. May his soul rest in peace," said Ramaphosa.

The ANC said Mboweni's role in shaping South Africa's democratic future, particularly during the dying days of apartheid, could not be overstated.

"Comrade Tito’s brilliance contributed greatly in the economic debates that framed the transition to democracy, making him one of the trusted voices of reason within the ANC," the party said.

"His legacy of dedication, innovation, and service will remain a guiding light for generations to come."

According to the party, Mboweni's journey "as a servant of the people" began in 1980 when abandoned his studies at what was then called University of the North (University of Limpopo today) to go into exile during the height of apartheid repression. At that time, he was a student leader with the Azanian Students Organisation (AZASO), a platform through which he fought for the rights of black students. 

He joined the ANC in 1985, " the liberation movement he would serve until his final breath".

After the fall of apartheid, President Nelson Mandela appointed him as minister of labour.

"He became a critical architect of South Africa’s post apartheid labour legislation laying the foundation for collective bargaining and establishing labour courts to uphold  worker rights.

"These transformative laws ensured that the voices of South African workers enshrined in the Constitution adopted in 1996 would guarantee the protections that workers continue to enjoy to this day", said the ANC.

In 1998, Mboweni began his tenure as advisor to the Reserve Bank Governor and became the first black African Governor of the South African Reserve Bank a year later. 

The ANC has credited him with leading the Reserve Bank into adopting inflation targeting, ensuring that price stability would be maintained in the fragile post-apartheid economy.

"His contributions in this space helped steer South Africa through economic turbulence and he was widely respected for this, both locally and internationally.

"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 of transition following the departure of his predecessor.

"We extend our heartfelt condolences to the Mboweni family, ANC structures, and all South Africans who mourn the loss of this great man.

"Comrade Tito will be remembered not only for his immense contributions to the economy but also for his unwavering connection to the people he served," the ANC said.

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