South AfricaTito Titus Mboweni

Tito Mboweni Bio, Wiki, Age, Wife, Son (Tumelo Mboweni ), Brother, Education, South African Finance Minister

Tito Mboweni sworn in as the South African Finance Minister on 9th of October 2018.

Tito Mboweni Wiki

Tito Mboweni Bio

Tito Titus Mboweni was born on 16th March 1959. He was the eighth Governor of the South African Reserve Bank and the first black South African to hold the post. Tito Mboweni was sworn in as the South African Finance Minister on 9th of October 2018 after admissions made by Minister Nhlanhla Nene.

Tito Mboweni Personal details

Tito Mboweni Age He was born on 16 March 1959 (age 59 as of 2018) in Tzaneen, Limpopo, South Africa
Tito Mboweni Son(s)
3 sons the renown one being Tumelo Mboweni
Tito Mboweni Brother Alto Mboweni
Tito Mboweni Party African National Congress
Tito Mboweni Education National University of Lesotho
University of East Anglia
Governor of the South African Reserve Bank
In office
8 August 1999 – 8 November 2009
Preceded by Chris Stals
Succeeded by Gill Marcus
Minister of Labour
In office 1994–1999
President Nelson Mandela

Tito Mboweni Early Life and Education

Tito Mboweni is the youngest of three children in his family. He was born on 16 March 1959 and spent his early childhood in Tzaneen in the then Transvaal Province. He attended the University of the North between 1979 and 1980, where he registered for a Bachelor of Commerce degree. He did not complete his studies there and left South Africa to go into exile in 1980.

Tito Mboweni Biography

  • Mboweni joined the African National Congress (ANC), South Africa’s current governing party, while in exile in Lesotho and was an activist for the party in many capacities. He obtained a Bachelor of Arts (honours equivalent) degree in economics and political science from the National University of Lesotho in 1985. In 1988 he earned a Master of Arts degree in Development Economics from the University of East Anglia in England.
  • Mboweni was appointed Minister of Labour from May 1994 to July 1998 in South African President Nelson Mandela’s cabinet. Before his appointment, he served as Deputy Head of the Department of Economic Policy in the ANC. He also represented the ANC on several domestic and international platforms. Tito Mboweni was a member of the ANC’s National Executive and National Working Committees and was also Chairperson of the National Executive Committee’s Economic Transformation Committee, which coordinated the development of ANC economic policies. While Minister of Labour Mboweni was the architect of South Africa’s post-Apartheid labour legislation.
  • He became one of the World Economic Forums Global Leaders of Tomorrow in 1995.
  • 1997 – He was appointed the head of the ANC’s Policy Department which was responsible for managing ANC policy processes. Upon joining the South African Reserve Bank, he resigned all of his elected and appointed positions in the ANC.
  • He joined the South African Reserve Bank in July 1998 as Advisor to the Governor. In August 1999 he was appointed Governor of the South African Reserve Bank. During his tenure, he was named Honorary Professor of Economics at the University of South Africa from 2000 to 2003. The University of Natal awarded the Governor the degree of Doctor of Economics, honoris causa. The degree was conferred on him in 2001. The Governor was also elected Chancellor of the University of the North-West and was installed as Chancellor on 23 February 2002. The University of Stellenbosch appointed the Governor Professor Extraordinary in Economics for the period 1 April 2002 to 31 March 2005. Asia School of Business appointed Mboweni to its Board of Governors in 2015.
  • In June 2010, Mboweni was appointed an International Adviser of Goldman Sachs International, where he provides strategic advice to the firm on business development opportunities, with a particular focus on South Africa and Sub-Saharan Africa.
  • In 2015, Mboweni‚ was appointed as an honorary professor in the School of Economic and Business Sciences at the University of the Witwatersrand.
  • On 9 October 2018, Mboweni was announced by President Cyril Ramaphosa as the new minister finance of the Republic of South Africa with immediate effect following Nhlanhla Nene’s resignation.

Tito Mboweni Mini-Budget 2018

While presenting the 2018 Mini Budget on 24th October 2018, South African Finance Minister, Tito Mboweni stated that the country is at a crossroads and the mini budget highlights the difficult economic and fiscal choices confronting the country. He further advised  the Government to make three items VAT exempt in 2019/ The other key pints include;

  •  Land reform must not reduce farms to forests.
  • Road Accident Fund fuel levy requires ‘large increase’
  •  Cabinet has no business being big.
  • Eskom turnaround plan expected.

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