Meet SA's new Finance Minister Tito Mboweni

Tito Mboweni is South Africa's new Finance Minister following the resignation of Nhlanhla Nene.

FILE: Tito Mboweni. Picture: Facebook

JOHANNESBURG - Out with the Nene, in with the new. Tito Mboweni is South Africa's new finance minister following the resignation of Nhlanhla Nene.

President Cyril Ramaphosa announced Nene's exit on Tuesday afternoon, following much speculation around this after Nene revealed he'd visited the Gupta family numerous times at their home between 2010 and 2014.

Mboweni has been announced as his successor.


If you still have the South African bank notes from 1999 - 2009, before Nelson Mandela was featured on them, take a look at the name of the South African Reserve Bank (Sarb) governor and you'll see Mboweni's signature.

Tito Titus Mboweni, born 16 March 1959, became the country's eighth Sarb governor in August 1999 and was the first black person to be appointed to the position. Prior to that, he was an advisor to the then-governor Chris Stals.

He held the position for a full decade, serving under three presidents - Thabo Mbeki, Kgalema Motlanthe and Jacob Zuma - until he was replaced by Gill Marcus in late 2009.

Mboweni holds a Bachelor of Arts degree in economics and political science from the National University of Lesotho and a Master of Arts degree in Development Economics from the University of East Anglia.

Before becoming Sarb governor, he was Minister of Labour from May 1994 to July 1998. Before that, he served as deputy head of the Department of Economic Policy in the African National Congress (ANC).


Which politician do you know is cool enough to have a song named after them? Mboweni does.

In 2017, local hip-hop star Cassper Nyovest released a song titled _Tito Mboweni _about money (of course).

Check it out below.