“Tito Mboweni was a formidable leader, with deep economic insights that greatly shaped South Africa’s post-apartheid policies and structures, such as the South African Reserve Bank (SARB), labour law and Nedlac.”

Reacting to the death of former Finance Minister and SARB Governor Tito Mboweni, Prof Raymond Parsons, economist from the North-West University (NWU) Business School, says he was saddened to hear of his unexpected passing over the weekend and sends his condolences to his family.

“His roles over the years ranged from Labour Minister (5 years) to SARB Governor (10 years) and much later to Finance Minister (3 years). All of these roles expanded his sphere of influence in policy making at various levels of government,” says Prof Parsons.

As a result, he says, Tito Mboweni increasingly brought his undoubtedly tough skills and experience to bear on policy-making in South Africa.

“He was a leader of integrity and people knew where they stood with him in a debate. On behalf of organised business, I had regular interactions with Tito Mboweni in the early years of South Africa’s democracy, but later more closely in his position as SARB Governor when I was on the SARB Board.”

Prof Parsons says his solid understanding of South Africa’s political economy was always evident, and he was a strong defender of the SARB’s autonomy.

“Tito Mboweni’s time at the SARB was his longest tenure in any role, and where he probably made the greatest impact through his firm commitment to, and strong leadership of, the institution. His decade as SARB Governor was a defining one in the evolution of monetary policy in South Africa during an often challenging period, including the introduction of inflation targeting in 2000.”

Overall, he says, Tito Mboweni leaves a tangible economic legacy in South Africa as a dedicated public servant over many years.