Tito Mboweni appointed on mine’s board

Nkwe Platinum Limited and South Africa Zijin Platinum, wholly-owned subsidiaries of multinational mining company, the Zijin Mining Group, announced the appointment of former South African finance minister Tito Mboweni as non-executive director and deputy chairperson of South Africa Zijin Platinum, with effect from October 14.

Mboweni was the minister of finance of South Africa from 2018 to 2021, after holding positions of minister of labour and governor of the South African Reserve Bank respectively.

He served as the ANC’s deputy head of the Department of Economic Policy prior to being appointed minister of labour. He served as the chair of the National Executive Committee’s Economic Transformation Committee, which oversaw the formulation of ANC economic policies.

Mboweni was also a member of the National Executive and National Working Committees of the ANC. From 1994 to 1998, Mboweni was the minister of labour in President Nelson Mandela’s administration.

The post-apartheid labour legislation in South Africa, which permitted collective bargaining and the creation of labour courts, was drafted at the time by Mboweni during his tenure as minister of labour.

In 1995, he was named as one of the Global Leaders of Tomorrow by the World Economic Forum. Mboweni was named head of the ANC’s Policy Department in 1997, which oversaw the organisation’s policy-making procedures.

In 1999, Mboweni was appointed as Governor of the South African Reserve Bank, becoming the first black South African to hold the post.

In his capacity as governor, he oversaw the implementation of the inflation targeting policy to assist the bank in achieving price stability, and dealt with the rand’s decline as a result of regional and international developments.

Mboweni joined Goldman Sachs International as an international adviser in June 2010, where he gave the company strategic recommendations on business expansion possibilities with a focus on South Africa and sub-Saharan Africa.

As deputy chairperson of South Africa Zijin Platinum’s board of directors, Mboweni will provide guidance and expertise to management relating to the business plans, strategies and objectives of the company. In 2021, South Africa Zijin Platinum was appointed as Nkwe Platinum Limited’s mining contractor in respect of the Zijin Garatau Platinum Mine in Limpopo.

The company strongly adheres to the co- development belief of “Mining for a Better Society” and believes that the development of enterprises is closely related to the sustainable development of our surrounding communities.

To date, Nkwe Platinum Limited has spent approximately R50m on its social and labour plans. The investment includes the upgrading of the Garatau Community Access Road, as well as community skills development programmes and solar- powered water systems, which have benefited the mine’s communities.

The company’s community empowerment initiatives include contracts being awarded to communities partnered with local businesses and community-established companies in respect of box-cut site clearance, crusher material supply, tipper truck and diesel supply as well as other various projects.

The MD and CEO of South Africa Zijin Platinum, Zhiyu Fan, said, “We are very proud to have Mboweni join our dynamic team. We welcome his wealth of industry experience and strategic leadership skills to the company.

We look forward to his contribution in leading the next developmental phase of our group.” Mboweni obtained a bachelor of arts (honours equivalent) degree in economics and political science from the National University of Lesotho in 1985. In 1987, he obtained a master of arts degree in development economics from the University of East Anglia in England.

Mboweni also served as honorary professor of economics at the University of South Africa. He was appointed as chancellor of the University of the North-West on February 23, 2002, after being elected to that position. Mboweni was designated professor extraordinaire in economics by the University of Stellenbosch from April 1, 2002, to March 31, 2005.