Nearly 10 years after heading the South African Reserve Bank, Tito Mboweni has been appointed finance minister. Mboweni, the Bank's first black governor, led it for a decade until 2009, succeeding Chris Stals. Under his leadership, SA’s foreign exchange reserves quadrupled. In February, ahead of Ramaphosa's cabinet reshuffle, Mboweni tweeted that he was not available for the position of finance minister.

He has a long history with the ANC, which saw him leave for Lesotho in the 1980s, to live in exile. Following his return to SA in the early 1990s, he was appointed deputy head of the ANC’s department of economic policy and was elected to the ANC national executive council, and also became a member of the national working committee of the ANC. He was appointed minister of labour in 1994. Three years later, he became head of the ANC’s policy process. He boasts a masters in development economics from the University of East Anglia in England...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now