FILE PHOTO: South African Finance Minister Tito Mboweni reacts as he arrives to deliver his budget speech at the parliament in Cape Town, South Africa, February 26, 2020. Reuters/Sumaya Hisham/File Photo
Mboweni was an anti-apartheid activist as a student who later became democratic South Africa's first labour minister from 1994 to 1999 under former President Nelson Mandela. "His role in shaping our democratic future particularly during the dying days of apartheid, cannot be overstated," said his party, the African National Congress, describing him as a trusted voice in the economic debates that framed the transition to democracy.
As central bank governor he oversaw the introduction of inflation targeting to help the bank achieve price stability.