Inclusive Growth and Competitiveness: Towards an Economic Strategy for South Africa", are what will get this country back on track." In June 2020, Mboweni proposed a new austerity policy, to cut the state's wage bill of R160.2 billion over three years and to adopt a Zero-based budget system in order to avoid a sovereign debt crisis in 2024. On 5 August 2021, Mboweni resigned as finance minister. He was succeeded in the post by Enoch Godongwana. Joining the private sector On 31 January 2022, Mboweni resigned as an ANC Member of the National Assembly to take up a position in the private sector. He has been appointed as chairman and independent non-executive director of Accelerate, a property fund company. Other activities World Bank, Ex-Officio Member of the Board of Governors (2018–2021) Joint World Bank-IMF Development Committee, Member (2018–2021) Asia School of Business, Member of the Board of Governors (since 2015) Recognition 2015 – Honorary professor, School of Economic and Business Sciences at the University of the Witwatersrand 2001 – Honorary Doctorate of Economics, University of Natal Controversy In August 2020, President Cyril Ramaphosa “strongly reprimanded” Mboweni over comments he made on Twitter about the dismissal of Zambia’s central bank governor Denny Kalyalya. In a statement, the presidency explained that “in one of his tweets, Minister Mboweni is promising to mobilise if not given reasons why the Central (bank) Governor has been fired,” citing the need for central bank independence. References External links Tito Mboweni biography, at African National Congress site, retrieved 2008-08-20 1959 births Living people African National Congress politicians Alumni of the University of East Anglia AngloGold Ashanti Finance ministers of South Africa Goldman Sachs people Government ministers of South Africa Governors of the South African Reserve Bank National University of Lesotho alumni People from Tzaneen 20th-century South African economists Members of the National Assembly of South Africa 21st-century South African economists