14 October 2024

Business Unity South Africa (BUSA) Mourns the Passing of Former Minister of Finance and Reserve Bank Governor Tito Mboweni

Johannesburg, 14 October 2024 – Business Unity South Africa (BUSA) is profoundly saddened by the passing of Tito Mboweni, former Governor of the South African Reserve Bank and esteemed Minister of Finance. Tito’s contributions to South Africa’s economic landscape were transformative and will be remembered for years to come.

During his tenure, Tito Mboweni played a crucial role in shaping South Africa’s economic policies, promoting fiscal discipline, and ensuring monetary stability. He was a key architect of significant reforms that enhanced the resilience of our economy, particularly during challenging times, including the global financial crisis. His leadership fostered a climate of confidence among investors and businesses, encouraging both local and foreign investment.

Cas Coovadia, CEO of BUSA,”I first met Tito in the days after the ANC was unbanned and he returned from exile. He played a critical role in the development of ANC economic policy, always being the pragmatic voice, informed by his studies at East Anglia University in England. I interacted with him as Minister of Labour, Minister of Finance, and Governor of the SARB, in my capacity as an executive and MD at The Banking Association SA. Tito has played a seminal role in policy influence in the economic space in SA since democracy. I will always remember him for his intellect, frankness, candour, and sense of humour. He was always honest in his views and defended his beliefs strongly. His sudden and tragic passing is a shock.”

We extend our deepest condolences to Tito’s family, friends, and all who were influenced by his work. His legacy will serve as a guiding light for current and future leaders.

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