Meet Tito Mboweni: 4 Quick facts about the new Finance Minister

Meet Tito Mboweni: 4 Quick facts about the new Finance Minister

On Tuesday, Tito Mboweni was named the new finance minister after Nhlanhla Nene resigned earlier the day.

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As Briefly.co.za reported earlier, President Cyril Ramaphosa announced Tito Mboweni would be taking over from Nhlanhla Nene as the minister of finance.

So, we decided to take a look at the man who would be taking over the responsibilities of the South African finance minister. Here is four quick facts about Mboweni:

1. Early life

Mboweni was born on 16 March 1959, the youngest of three children. According to Wikipedia, he grew up in Tzaneen.

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2. Education

The new finance minister attended the University of the North in the late 70s, where he studied towards a degree in Commerce. However, he was exiled in 1980, which meant he was unable to finish his degree.

In 1985, Mboweni graduated from the National University of Lesotho with Bachelor of Arts in economics and political science.

Three years later he went on to obtain a Master's degree from the University of East Anglia in England.

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3. Political career

While he was in exile in Lesotho, Mboweni joined the ANC and he went on to become quite the asset for the ruling party.

After the fall of apartheid, late former president Nelson Mandela elected Mboweni as the minister of labour, a post he held until 1998.

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4. South African Reserve Bank

Mboweni made history when he became the first black person to hold the post as the Governor of the South African Reserve Bank.

Aside from being the first black governor, Mboweni was only the eight person to hold the position.

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Source: Briefly.co.za

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