By Ncaba Ntshakala
The Government of Eswatini has expressed deep sorrow following the passing of former South African Minister of Finance Tito Mboweni.
Government Spokesperson Alpheous Nxumalo described Mboweni as a “gigantic continental political and entrepreneurial figure” whose influence extended far beyond the borders of South Africa.
“A gigantic continental political and entrepreneur in the form of Tito Mboweni of the Republic of South Africa has gone to sleep too early in the day. His influence has, without a doubt, gone beyond the borders of the Republic by miles away,” Nxumalo remarked.
As a prominent figure in the African National Congress (ANC) and former Cabinet Minister, Mboweni was praised for his respect for sovereignty and commitment to the independence of other states, particularly in the SADC region.
“He never poked into the internal affairs of other Sovereign States except at multilateral levels or by invitation only.
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May his leadership acumen be a lesson to all those aspiring to reach his heights in leadership. Rest in peace, Sir,” Nxumalo added.
Mboweni, born on March 16, 1959, was a trailblazer in South Africa’s political and financial landscape. He served as the eighth Governor of the South African Reserve Bank from 1999 to 2009, becoming the first Black South African to hold the position.
In 2018, he was sworn in as Minister of Finance under President Cyril Ramaphosa, stepping into the role after Nhlanhla Nene’s resignation.
Beyond his public service, Mboweni was an influential entrepreneur, co-founding Mboweni Brothers Investment Holdings and serving as an international advisor to Goldman Sachs International.
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In addition, he was appointed a non-executive Director for South Africa at the New Development Bank (BRICS Development Bank).
While celebrated for his leadership, Mboweni also faced controversies. In January 2020, he stirred debate by proposing the unification of South Africa and Lesotho as a federal state, eliciting mixed reactions from both countries.
Later that year, he was reprimanded by President Ramaphosa for his critical comments on Twitter (now X) regarding the dismissal of the Bank of Zambia’s governor, which raised concerns about central bank independence
