The National Association of Democratic Lawyers (NADEL) congratulates Tito Mboweni on his appointment as South Africa’s Minister of Finance. Minister Mboweni has proven experience in managing the economy after successfully leading South Africa’s Reserve Bank for 10 years. On the other hand, his involvement in crafting the countries macroeconomic framework would allow him an opportunity to review both the strengths and weaknesses of his previous work. Minister Mboweni has previously also served as Minister of Labour and as a non-executive Director of the BRICS New Development Bank. Once again, this past experience will allow him to reflect on the difficulties facing the labour movement arising out of the pressures created by economic policies that do not favour the working class. His experience as a business minded person coupled with his struggle history offers a crucial balance in finding solutions to the critical levels of income inequality in South Africa, which is the highest in the world.
The President of South Africa in making such a choice noted strongly that Minister Mboweni has the necessary experience in finance, economics and governance to succeed as Finance Minister. NADEL notes that representatives of big business and some economic experts have hailed this appointment stating that it would yield positive financial spinoffs resulting in economic growth. Minister Mboweni is not the single answer or the proverbial silver bullet that would solve our economic woes that we face immediately and in going forward as a country. He will require the full support of all stakeholders in labour, commerce and industry to overcome the challenges of poverty, inequality and massive unemployment.
A Few months before his appointment Minister Mboweni had tweeted as follows, “I am not available for Minister of finance. You cannot recycle the same people all over again, it is time for young people”
ISSUED ON BEHALF OF THE NATIONAL ASSOCIATION OF DEMOCRATIC LAWYERS (NADEL), SOUTH AFRICA,