Meet Tito Mboweni, the new Finance Minister of SA
JOHANNESBURG – Tito Titus Mboweni has been announced as the successor to former Finance Minister Nhlanhla Nene.
Mboweni was the eighth Governor of the South African Reserve Bank (SARB) and was the first black South African to hold the post. He held the position for 10 years from August 8, 1999 to November 8, 2009.
The former governor is currently a founding member of Mboweni Brothers Investment Holdings as well as an international advisor of Goldman Sachs International.
Mboweni is also a non-executive Director for South Africa at the New Development Bank (BRICS Development Bank).
Mboweni grew up in Tzaneen in the then-Transvaal Province. He attended the University of the North between 1979 and 1980, where he registered for a Bachelor of Commerce degree. However, he did not complete his studies and left South Africa to go into exile in 1980. He later got his Bachelor of Arts (Honours equivalent) degree in economics and political science from the National University of Lesotho in 1985. Three years later, Mboweni received his Master of Arts degree in Development Economics from the University of East Anglia in England.
Mboweni was Minister of Labour from May 1994 to July 1998. Before his appointment as the Minister of Labour, he was Deputy Head of the Department of Economic Policy in the ANC. While holding the position of Minister of Labour Mboweni was the architect of South Africa's post-Apartheid labour legislation.
He was also one of the World Economic Forums Global Leaders of Tomorrow in 1995.
During his tenure as governor of the SARB, he was appointed as the Honorary Professor of Economics at the University of South Africa between 2000 to 2003. The University of KwaZulu-Natal awarded the Governor the degree of Doctor of Economics, honoris causa.
The degree was conferred on him in 2001.
The Governor was also made Chancellor of the University of the North-West and was installed as Chancellor on 23 February 2002. The University of Stellenbosch appointed the Governor Professor Extraordinary in Economics for the period 1 April 2002 to 31 March 2005. Asia School of Business appointed Mboweni to its Board of Governors in 2015.
In 2015, Mboweni‚ was appointed as an honorary professor in the School of Economic and Business Sciences at the University of the Witwatersrand.
According to Bloomberg, the former governor sits at the Chairman on the board at Nampak Limited and Accelerate Property Fund Limited. He is also the Non-Executive Chairman of Nampak Cartons & Labels and the Non-Executive Director of Discovery Limited.
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