BMF Deeply Saddened By The Passing Of Former Reserve Bank Governor, Tito Mboweni

The Office of the Presidency

October 14, 2024

The Black Management Forum (BMF) is deeply saddened by the passing of former reserve bank governor and minister of finance, Mr. Tito Mboweni. He was a bastion for black economic empowerment and was instrumental in shaping the policies that drive social transformation in South Africa such as the broad-based black economic empowerment (B-BBEE) and Employment Equity Act (EEA). As the first black governor of the reserve bank, he paved the way for other black professionals to pursue their highest ambitions and dented the negative narrative around black talent in the country.

The BMF worked very closely with Mr. Mboweni while he served as the first black Minister of Labour (under the Nelson Mandela administration) and shaped some of the key legislations that drive corporate transformation in the country. Through him, Mr. Mpho Makwana (former Eskom chairperson) and other BMF members had the privilege of working in his office and contributing to the implementation of affirmative action. The BMF enjoyed a fruitful relationship with Mr. Mboweni over the years and his insights on economic transformation will be sorely missed.

As an ardent supporter of the values of BMF and a frequent speaker at BMF events, it was at a BMF Sandton gala dinner, where he told attendees that the incapacity of the public sector needs to be resolved, and it was our responsibility as the BMF to ensure competency and capability. He encouraged the attendees to stop being modern day hewers of wood and drawers of water and start building our own “Discovery” or our own R100 million companies operating in over 30 countries across the globe. A true believer of economic emancipation and an advocate for ethical leadership.

Mr. Mboweni was a strong advocate for economic inclusion and decent work for all. He was also an advocate for ordinary South Africans whose voices rarely reach the echelons of power.

As we reflect on the life and achievements of Mr. Mboweni, the BMF is reminded of the long road to economic transformation that lies before us and the need to think creatively and innovatively as we pursue the transformation agenda.