South Africa has experienced a significant loss with the passing of Tito Titus Mboweni, the former finance minister and first black governor of the South African Reserve Bank, on October 12, 2024. Mboweni, 65, passed away following a brief illness, having spent his last days in a hospital in Johannesburg.

His death marks the second loss of a former finance minister this year, following the passing of Pravin Gordhan just a month earlier at the age of 75. Both were influential members of the African National Congress (ANC).

‘President Cyril Ramaphosa is deeply saddened by the passing of former Governor of the South African Reserve Bank and Labour and Finance Minister Dr Tito Mboweni at the age of 65. President Ramaphosa offers his condolences to the family and friends of Dr Mboweni who has passed away following a short illness. “His passing is a great loss. May his soul rest in peace.”‘ read statement on South African Government official X profile.

Tito Mboweni was widely respected for his contributions to South Africa’s economic and political landscape. He served as the governor of the Reserve Bank from 1999 to 2009, before returning to public service as finance minister from 2018 until his retirement in 2021.

His family expressed deep sadness over his passing, noting that he was surrounded by loved ones at the time of his death. Tributes continue to pour in as many remember the brilliant man that drove South Africa’s economic policies.

Memorial details are expected to be announced in the coming days, and the nation continues to mourn this remarkable figure.