Tito Mboweni is South Africa's new Minister of Finance

SOUTH AFRICA - In Brief 09 Oct 2018 by Iraj Abedian
As predicted in my yesterday's Note, SA has a new Minister of Finance today- it is the 5th Minister of Finance since December 2015.Mr Tito Mboweni is SA's x-Governor of the Reserve Bank, as well as the first Minister of Labour in post-1994 democratic South Africa who served in Mandela's Cabinet. A trained economist, Mr Mboweni has been teaching economics at Universtiy of Stellenbosch on part time basis after he retired as the Governor. For a period he was also a Special Advisor to Goldman Sachs. He has also chaired a couple of Boards of large and listed companies.Minister Mboweni is known for his strong -minded policy positions, engaging and highly respected in both business and the public sector. During the Zuma years he was largely quiet, focussing on his business and professional interests. He became somewhat more vocal towards the end of the Zuma years. At some point his name was even considered as a possible nomination for the presidency of the ANC and hence that of the country. Yet, soon he realised he was not prepared to go through the rough and tumble of the ANC politics and stopped any form of campaigning.His recall from the retirement is a strategic move by President Ramaphosa, he is entrusting the National Treasury to a tested and tried pair of hands. Minister Mboweni is known for his passion for institution building- something that the National Treasury needs as well as the SA Revenue Services (SARS). From the perspective of the next year National Elections, Mboweni is a definite plus for Ramaphosa's New Dawn- and for the revival and restoration of the ANC's moral and intellectual backbone. I do not anticipate any fiscal policy changes in the short term. Be...

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