The Tourism Business Council of South Africa (TBCSA) has elected former South African Reserve Bank Governor Tito Mboweni as the chairperson of its board of directors.

Mboweni will take over the reins from Mavuso Msimang who served two terms on the position.

TBCSA is a member-based organisation, made up of trade associations as well as leading corporations in the travel and tourism sector, seeking to ensure that the industry is unified and speaks with one voice when engaging stakeholders on issues affecting the sector.

In a statement on Tuesday, TBCSA chief executive Mmatšatši Ramawela said Mboweni brings a wealth of leadership experience from business, government, and academia, which would positively inform TBCSA’s direction.

“We all know Mr Mboweni and the work that he has done while in government and now in the private sector since leaving the public service – a wealth of experience that will no doubt be valuable in guiding TBCSA in its growth and development,” Ramawela said.

Mboweni has served as chairman of AngloGold Ashanti, Chancellor of the University of the North West and has held various positions within the African National Congress (ANC).

His credentials include being labour minister in President Nelson Mandela’s cabinet from 1994 to 1998 and serving as the first black governor of the South African Reserve Bank for 10 years.

Currently, Mboweni is an International Advisor to Goldman Sachs International and he also serves as chairman of the board for Nampak Limited, SacOil Holdings, Accelerate Property Fund. He serves as well on the Board of Directors of Discovery Limited, PPC Limited and is South Africa’s Representative to the BRICS New Development Bank as Non-Executive Director.

Outgoing chairman, Mavuso Msimang said that TBCSA should wisely make use of the time that it would have with Mboweni to advance the interests of the travel and tourism sector.

He described Mboweni as a sharp, witty and independent person, with the capacity to learn within a very short space of time.

In his acceptance speech, Mboweni said he was honoured by the confidence the tourism industry, as represented by TBCSA, had shown in him.

“I accept the position of Chairperson of the Council with humility and enthusiasm. I am also aware of the challenges the sector faces and endeavour to fill the role of TBCSA Board Chairman with vigour and enthusiasm,” Mboweni said.

“I am looking forward to working with the Board, the Secretariat, all the members and TOMSA Levy contributors to further develop our tourism industry.”