Biography of Titi Mboweni | Age | Career | The penalty
Tito Mboweni is a South African politician who was the Ministry of Finance under the administration of the President Cyril Ramaphosa from 2018 to 2021.’
Born the March 16, 1959Mboweni was the eighth Governor of the South African Reserve Bank and the country’s first black citizen to hold the office.
He is also a founding member of Mbowemi Brothers Investment Holdings and a non-executive director for South Africa at the New BRICS Development Bank.
Biography of Titi Mboweni
March 16, 1959
Twitter: @tito_mboweni
Facebook: Tito Mboweni
Youth and education
As the youngest in his family, Mboweni grew up with his parents in Limpopo province. After graduating from high school, he attended the Northern University in the Transvaal between 1979 and 1980 where he studied Trade.
Mbowemi did not graduate there due to his political activism. In 1980, he left the country for exile in Lesotho where he finished his studies at National University of Lesotho and joined the The National African Congress.
After getting his Bachelor of Artsspecializing in political science and economics at the NUL, he continued his studies at the University of East Anglia in England where he obtained his Master of Arts degree in 1987.
Political career
After Mboweni’s return from exile, he was appointed Deputy Head of Economic Policy Department at the ANC, where he represented the ANC in all economic matters, both nationally and internationally. He was also a member of the National Executive and National Working Committees of the ANC.
Later, he became chairman of the Economic Transformation Committee of the National Executive Committee, a section of the ANC which coordinates the development of economic policies of the ANC.
From May 1994 to July 1998, Mboweni was appointed Minister of Labor by the president Nelson Mandela. While he was Minister of Labour, he was the architect of Post-Apatthied Labor Legislation in South Africa. This great success makes him one of the World Economic Forum Global Leaders of Tomorrow in 1995.
In 1997, he took over as head of the political department of the ANC. However, Mboweni resigned from his political ties after joining the South African Reserve Bank. At first he was an adviser, but later in 1999 he was appointed governor of the bank and became the first black South African to hold this position.
On October 9, 2018, Mboweni was pronounced as the Ministry of Finance by President Cyril Ramaphosa as South Africa’s new finance minister. From the start of his term, Mboweni found himself at odds with the political philosophy of the ANC. For this reason, some of its growth projects and plans have been rejected and widely criticized by the public sector.
In June 2002, Mboweni tabled a new austerity policy, to cut the state wage bill by R160.2 billion out of three and adopt a zero-based budget system. However, in August 2021, he resigned as finance minister and was replaced by Enoch Godongwana.
controversies
In August 2020, President Cyril Ramaphosa seriously criticized Mbowemi for a comment he made on his Twitter account about the dismissal of Governor of the Central Bank of ZambiaDenny Kalyalya.
Private life
Mboweni is a father, we don’t know much about his wife but he is lucky to have three children. At one point he was involved in a love triangle with the Minister of Mines, Gwede Mantashe and it was rumored that she had a girlfriend named Lerato Makghato.
Acknowledgement
- 2001 – Honorary Doctorate in Economics, University of Natal
- 2015 – Honorary Professor, School of Economics and Business, University of the Witwatersrand
Net worth of Tito Mboweni
Mboweni is a private man who leads a quiet life. Even though he leads a quiet life, he is an investment magnate. Tito’s net worth is estimated at $15 million.
Social media handles
- Twitter: @tito_mboweni
- Facebook: Tito Mboweni
