He died in a Johannesburg hospital yesterday after a short illness.

In a statement, the party traces Mboweni’s political journey from 1980 when he abandoned his studies at the University of the North (Turfloop) as a student leader with the Azanian Students Organisation (Azaso), to go into exile in Lesotho.

The ANC says he joined the party in 1985 and in the dying days of apartheid contributed greatly in economic debates that framed the transition to democracy, with President Nelson Mandela appointing him Labour Minister in the first cabinet.

It says as Labour Minister, Mboweni was a critical architect of South Africa’s post-apartheid labour legislation laying the foundation for collective bargaining and establishing labour courts to uphold worker rights.

The ANC says as the country’s first Black Governor of the Reserve Bank from 1999, he led the bank in adopting inflation targeting, ensuring that price stability would be maintained in the fragile post-apartheid economy.

The party says as Finance Minister from 2018 to 2021, Mboweni guided the country’s economic policy during a critical period of transition following the departure of his predecessor.

The ANC adds that he leaves a legacy of dedication, innovation and service which will remain a guiding light for generations to come.

--SABC--