SA’s Kganyago praises late Mboweni’s policy contributions

South Africa’s Reserve Bank Governor Lesetja Kganyago has praised former Finance Minister Tito Mboweni for his contribution to policy-making.

Mboweni, who was the first black central bank governor of South Africa, died over the weekend after a short illness and served as the Reserve Bank governor between 1999 and 2009. He gained a reputation for being principled and ready to debate issues openly.

More recently, as finance minister in President Ramaphosa’s government between 2018 and 2021, Mboweni was credited with stabilising the economy.

He took that post despite suggesting months earlier that he was too long in the tooth and it was perhaps time for new blood.

The BBC reports that Mboweni’s family said they were “devastated” and that he had died in a hospital in Johannesburg “surrounded by his loved ones”.