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That was the balance he brought into various ANC policy debates and ministerial posts. As labour minister Mboweni oversaw the root and branch revision of labour legislation. Often criticised by conservative commentators for being too pro-worker, Mboweni was in no doubt that that was the rebalancing needed in favour of the working class to address laws inherited from the apartheid system.
Some of the key pieces of legislation reform that remain in effect include the Basic Conditions of Employment Act, the Labour Relations Act, the Mines Health Safety Act and the National Economic Development & Labour Council Act. Despite some criticism, Nedlac remains the pre-eminent body for dialogue between civil society, labour, business and government.
Spoke volumes
His buttoned-up approach to his job as SA’s central banker was in sharp contrast to the informality we were all used to. However, Mboweni was clear that being the SA Reserve Bank’s first black governor and its youngest yet, as well having been an ANC cadre, placed certain burdens on him.
He succeeded Chris Stals in 1999, during Thabo Mbeki’s presidency — a move that spoke volumes about the president’s commitment to promoting young black talent into key state and regulatory spaces. Some of these appointments ended a little ignominiously, but Mboweni’s remained a stellar one.
None were surprised that Mboweni and his deputy governor, Gill Marcus, parted ways — both being formidable intellectuals and policy wonks. It was a testimony to all that she returned as governor in 2009, when Mboweni’s second term ended, setting yet another precedent: the first woman to be appointed to such a position.
While I was serving as ambassador to Abu Dhabi, I mentioned when speaking to the UAE’s central banker that I had once shared a house with Mboweni. He was about to come down to SA for a conference of central bankers and promised to pass on my greetings to Mboweni.
We met shortly after his return and he said he did mention me to Mboweni at the dinner the latter hosted. Mboweni claimed not to know any Yacoob Abba Omar. I was obviously crestfallen, since it meant losing the shine I was hoping our friendship could provide me. However, the central banker continued: at the end of the evening Mboweni came back to him and said: “Oh, you mean Firoz!”
Opening doors
His post-governorship period was a mixture of working in the corporate sector and, at President Cyril Ramaphosa’s behest, a return to the finance ministry. He continued his various board positions to push for economic transformation while chiding black executives for not displaying the level of excellence expected.
He was a solid supporter of the Mapungubwe Institute even when in the corporate sector, opening doors as he did with Goldman Sachs or facilitating partnerships with the Ghana-based African Centre for Economic Transformation — just two of the boards he served on.
Shortly after his appointment as finance minister in Ramaphosa’s cabinet, in my capacity as head of strategy at the Banking Association SA (Basa) I arranged for him to speak at the Banking Summit hosted by Basa. After two chats and exchanges of emails and WhatsApps he was set to deliver his speech to a slightly critical audience.
Cometh the hour, 9am, the man did not cometh. In a panic I called him several times and sent several messages asking whether he was on his way. A drowsy Mboweni called me back, asking what time he was due. Half-an-hour ago, was my tart response. Fortunately, the venue was close enough to his Joburg home for him to get there in a few minutes, looking ever-so-slightly dishevelled.
As he took his seat next to me, he growled “Comrade Firoz, you should know I don’t do early mornings,” and then proceeded to give a truly Titoesque performance, sans notes!
We had often agreed that I would cook him a curry, as an act of nostalgia for the Lusaka days. Sadly, commitments and personal circumstances prevented that from happening. My next tinned fish curry will be devoted to his memory.
• Abba Omar is director of operations at the Mapungubwe Institute for Strategic Reflection.
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