Zimbabwean national, Rutendo Matinyarare, a political activist based in South Africa has shared his sentiments in reaction to the news about the sudden death of former minister Tito Mboweni.
He boldly stated that Mboweni was an economic hitman of imperialism who destroyed the Zim dollar and sabotaged Zimbabwe’s economy.
“The worst thing that destroyed the Zim dollar was illicit money flows and externalization of Zimbabwean foreign currency savings from Zimbabwe to South Africa between 1999 and 2008 during our land reform. The South African Reserve Bank, managed by Tito Mboweni, allegedly turned a blind eye to these illicit money flows into South African banks.
“However, at the same time, Mboweni selectively enforced illegal U.S. sanctions by blocking government, parastatal and business accounts that helped the country bypass sanctions,” said Matinyarare.
Mboweni passed away on Saturday, 12 October 2024, following a short illness, at the age of 65.
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He was South Africa’s first Minister of Labour under the democratically elected government from 1994 to 1999 in the Cabinet of Founding President Nelson Mandela.
He then served as Governor of the South African Reserve Bank (SARB) for a decade from 1999. From 2018 to 2021, Mboweni served as Minister of Finance in the administration led by Cyril Ramaphosa.
Matinyarare claims that when Mboweni was Minister of Finance, “South African banks blocked accounts, loans, and payments of key Zim parastatals and indigenous business people”.
He said Mboweni also blocked the use of US dollar notes in Zimbabwe and enforced western sanctions.
Among many other things, the former minister will be mostly remembered for turning a blind eye as South African banks colluded in the manipulation of the country’s currency.
Mboweni was also a member of the ANC’s National Executive and National Working Committees, and chairperson of the National Executive Committee’s Economic Transformation Committee, which coordinated the development of ANC economic policies.
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