1. Tito Titus Mboweni was a South African politician who served as Minister of Finance of South Africa in the government of President Cyril Ramaphosa from 2018 to 2021.
25 Facts About Tito Mboweni
1. 2.
Tito Mboweni was sworn in as Minister of Finance on 9 October 2018, following Nhlanhla Nene's resignation.
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Tito Mboweni was a founding member of Tito Mboweni Brothers Investment Holdings and a former international advisor of Goldman Sachs International.
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Tito Mboweni had been appointed a non executive Director for South Africa at the New Development Bank.
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The youngest of three children, Tito Mboweni was born on 16 March 1959.
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Tito Mboweni grew up in Tzaneen in the Limpopo Province.
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Tito Mboweni attended the University of the North between 1979 and 1980, where he registered for a Bachelor of Commerce degree.
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Tito Mboweni did not complete his studies there and left South Africa to go into exile in 1980.
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Tito Mboweni obtained a Bachelor of Arts in economics and political science from the National University of Lesotho in 1985.
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Tito Mboweni represented the ANC on several domestic and international platforms.
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Tito Mboweni was a member of the ANC's National Executive and National Working Committees and was Chairperson of the National Executive Committee's Economic Transformation Committee, which coordinated the development of ANC economic policies.
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Tito Mboweni served as Minister of Labour from May 1994 to July 1998 in South African President Nelson Mandela's cabinet.
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Tito Mboweni became one of the World Economic Forums Global Leaders of Tomorrow in 1995.
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In 1997, Tito Mboweni was appointed head of the ANC's Policy Department which was responsible for managing ANC policy processes.
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Tito Mboweni joined the South African Reserve Bank in July 1998 as the first black Advisor to the Governor.
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In June 2010, Tito Mboweni was appointed an International Adviser of Goldman Sachs International, where he provided strategic advice to the firm on business development opportunities, with a particular focus on South Africa and Sub-Saharan Africa.
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Tito Mboweni served as chairman of bullion producer AngloGold Ashanti, among other company directorships.
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On 9 October 2018, Tito Mboweni was announced by President Cyril Ramaphosa as the new Minister of Finance of the Republic of South Africa with immediate effect following Nhlanhla Nene's resignation.
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In June 2020, Tito Mboweni proposed a new austerity policy, to cut the state's wage bill of R160.2 billion over three years and to adopt a Zero-based budget system in order to avoid a sovereign debt crisis in 2024.
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Tito Mboweni was succeeded in the post by Enoch Godongwana.
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On 31 January 2022, Tito Mboweni resigned as an ANC Member of the National Assembly to take up a position in the private sector.
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Tito Mboweni was appointed chairman and independent non-executive director of Accelerate, a property fund company.
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In January 2020, Tito Mboweni became the first member of a South African cabinet since the end of apartheid to propose that South Africa and Lesotho be united as a federal state.
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Tito Mboweni died following a short illness at a hospital in Johannesburg, on 12 October 2024.
25.
In 2017, he was the subject of a song by South African rapper Cassper Nyovest in which Tito Mboweni's name is included 75 times in the 4-minute song, with his name invoked to refer to the creation and ownership of money as his signature is included on the Rand note.