First day of office for Mboweni as Governor the SA Reserve Bank

The former minister of labour, Tito Mboweni, was appointed governor of the South African Reserve Bank (SARB) to replace Dr Chris Stals. Mboweni, the first Black person to head this highly reputed institution, was inaugurated at Gallagher Estate, Midrand, on 7 August 1999. He first joined the Reserve Bank as an advisor to Stals in 1998, when he resigned all of his elected and appointed positions in the ANC. Click here to read Mboweni's statement of farewell to Dr Chris Stals and Dr Chris de Swardt, deputy governor.