Former finance minister Tito Mboweni has been appointed as chairman of the Accelerate Property Fund with immediate effect.
JSE-listed Accelerate owns a 50% stake of Fourways Mall, along with other smaller shopping centres and other properties in Johannesburg and Cape Town.
Mboweni previously served as chairperson of Accelerate, before he was appointed as finance minister.
Mboweni replaces Timothy Fearnhead, who steps down as chairperson this week, Accelerate announced.
Mboweni resigned from his seat in Parliament on Monday, six months after he left President Cyril Ramaphosa’s Cabinet.
He was finance minister for three years since 2018, after previously serving as labour minister from 1994 to 1998. He was governor of the SA Reserve Bank for a decade, until 2009.
He then embarked on lengthy stint in the private sector, where he was chairman of Nampak, SacOil, and AngloGold Ashanti, as well as Accelerate. He was also a director of Discovery and PPC.
In the past, Mboweni served as an adviser to Goldman Sachs International and a consultant of the oil company Total. In times of uncertainty you need journalism you can trust. For only R75 per month , you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.