Mboweni hailed for his part in steering SA economy

Former finance minister, SARB Governor 'had a sharp intellect'

Political parties, business, labour and civil society formations have all paid tribute to the late former finance minister Tito Mboweni who died after a short illness at the weekend.

He was 65 years old.

The South African Chamber of Commerce and Industry (Sacci) has described Mboweni as a man who operated with integrity and who had a deep understanding of matters affecting his portfolios, SA’s economy and its challenges.

The organisation said Mboweni was known to have a sharp intellect and was transparent in his dealings with collective business. 

“His sterling work in pioneering the establishment of Nedlac and bringing various stakeholders such as big business, big labour, big government and community groups together to debate policy, regulations and legislation that affected South Africa will remain one of the major highlights of his legacy,” said SACCI in a statement.

“He also played a significant role in the sponsorship and navigation of the Labour Relations Act, as well as found ways to work with various stakeholders in the formulation of the Employment Equity Act.”

Cosatu hailed Mboweni for playing his part in the journey to liberate SA and build a democratic, non-racial, non-sexist nation. 

“He came a long way from the poverty-stricken village of Bordeaux and the broader community of Tzaneen, Limpopo,” said Cosatu spokesperson Matthew Parks.

“Whilst Cosatu sparred with comrade Mboweni many a time during his tenure at Treasury and the SARB, we never doubted his integrity or principles.  He was part of a generation of leadership who showed that one could occupy the highest echelons of power and not fall prey to the temptation to loot. 

“Mboweni was forthright in his views and where he agreed, he would acknowledge and where he disagreed, he would be honest and say why.  He relished a debate and was keen to play his role as an elder statesman in a society battling to find its place,” Parks said.

The South African Council of Churches said Mbowen demonstrated a strong sense of justice in the early years of his adulthood, when he was an activist for the rights of black people during the apartheid era.

“This commitment to rightfulness and fair-mindedness remained with him and he walked firmly in his purpose all through his career, serving in the first administration under [former] president Nelson Mandela as a deputy minister, and most notably as the South African Reserve Bank Governor from 1999 to 2009, and into his tenure as finance minister from 2018 to 2021,"  said Rev Mazwandile Molo, acting general secretary of the council.

"He was at the helm of the finance sector at a critical time in our economy, steering the country through challenging fiscal terrain. He made significant contributions that still sit at the core of our nation’s financial and economic architecture."

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

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