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Who is Tito Mboweni? Meet the new Finance Minister of SA

Tito Titus Mboweni was appointed the new Minister of Finance for Republic of South Africa on Tuesday (October 09, 2018) by President Cyril Ramaphosa, replacing Nhlanhla Nene.

Here’s are everything you need to know about the new Finance Minister, Tito Mboweni:

Tito Titus Mboweni was born 16 March 1959 in Tzaneen, Limpopo. He became the country’s eighth South African Reserve Bank 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).