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Mboweni denies return to politics

The former Reserve Bank governor said he quit AngloGold to focus on other business ventures.

FILE: Former Reserve Bank governor Tito Mboweni. Picture: Sapa.

JOHANNESBURG - Former Reserve Bank governor Tito Mboweni on Tuesday rubbished speculation that he was planning to return to politics.

It was announced on Monday that Mboweni had stepped down as AngloGold Ashanti chairperson.

This has led to speculation he may return to Cabinet after the elections.

Speaking on the Midday Report, Mboweni explained his decision to step down.

"I have been on the AngloGold Ashanti board for about four years running to five. I thought that the time had come for me to assess where I want to go. I though the time had come for me to move on."

He says he wants to focus on his other business ventures.

"My portfolio of business engagements is enlarging and it was much better for me to concentrate on the other portfolios. As you know, I'm involved with the property business, oil and gas business, manufacturing and the health sector, so that's quite a heavy load to carry."

Mboweni denied claims of a return to Cabinet.

"I have heard no conversation with anybody about that part of life. I am a member of the National Executive Committee of the ANC and that's where it really ends. All these other speculations are what they are, speculations. I suspect they make for nice newspaper headlines, but I don't think they mean much in practice."