South Africa's former finance and labor minister and the country's first Black central bank governor, Tito Mboweni, passed on at 65 following a brief illness.
Mboweni, an influential figure in South Africa's post-apartheid era, was a student activist during the anti-apartheid movement. He became the country's first democratic labor minister from 1994 to 1999, serving under former President Nelson Mandela.
He also served as governor of the South African Reserve Bank from 1999 to 2009, where he introduced inflation targeting, a key policy for ensuring price stability. Mboweni returned to public office as finance minister from 2018 to 2021 under President Cyril Ramaphosa.
The African National Congress (ANC) praised Mboweni's contributions, highlighting his role in establishing post-apartheid labor laws. These laws laid the groundwork for collective bargaining and labor courts to protect workers' rights.
The ANC described him as a vital voice in the economic discussions that shaped South Africa’s transition to democracy.
President Ramaphosa expressed shock at Mboweni's passing, noting that his death was a significant loss to the nation. He called Mboweni a "leader, economic policy innovator, and champion of labor rights," known for his energetic and friendly approach to engaging South Africans.
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