Tito Mboweni Appointed South Africa’s Finance Minister

After being the eighth governor of South African Reserve Bank, Tito Mboweni has been named Mzansi’s finance minister. South African President Cyril Rhamaposa must have noticed Tito’s ability to manage the country’s bankroll. The former governor will replace Nhlanhla Nene after he resigned last week Tuesday.

During his spell as the country’s governor of Reserve Bank, Tito Mboweni had been very thrifty with how the country spent its funds. The way he managed the country’s bankroll yielded fortunes for the country’s economy. Furthermore, after the cheers, Tito Mboweni has a very huge task lining ahead of him.

Tito Mboweni and Cyril Ramaposa
Tito Mboweni and Cyril Ramaposa

Many South African citizens have confidence in Tito to revive the country’s economy that is going downhill bit by bit. Hopefully, he will use all the experience he has to make sure that the Rand becomes a real money contender once again.

Tito Mboweni’s Career

The career of finance minister is one of those that can be described as fruitful. Leaving the Reserve Bank was not a result of failure. But better fortunes favoured him as he was appointed as an adviser for Goldman Sachs Group Inc. Moreover; he also served as the chairman of AngloGold Ashanti Ltd among other companies.

His major achievement as a Reserve Bank Governor was when he boosted the country’s economy by building the country’s national foreign exchange reserve. This boosted the government’s coffers to $40 Billion from $10 Billion

The announcement of Mboweni as Governor led to the Rand to gain value by 0.9 per cent. The Rand started trading 0.9 stronger at 14, 7178 per dollar. This is good news for online casino players as they can wager real money that has real value. You can only wager real money at Yebo Casino South African’s number 1 online casino where you can win big with less.

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