President Cyril Ramaphosa has announced that former Minister of Finance and prominent figure in South Africa's democratic transition, Dr Tito Mboweni, will be honoured with a Special Official Funeral Category 2 following his passing on Saturday at the age of 65.

Mboweni has been accorded a Special Official Funeral Category 2, which will take place at Nkowankowa Stadium in Tzaneen, Limpopo, at 10h00 on Saturday, 19 October 2024.

"The funeral will feature ceremonial elements provided by the South African Police Service," the Presidency said in statement.

In further commemoration, President Ramaphosa has ordered that the National Flag be flown at half-mast at all official flag stations from Wednesday until the evening of the funeral.

Mboweni's distinguished career began with his appointment as South Africa's first Minister of Labour in the Cabinet of President Nelson Mandela from 1994 to 1999.

He then served as Governor of the South African Reserve Bank from 1999 to 2009, overseeing a decade of critical financial policy development and stability. In 2018, he returned to government as Minister of Finance under President Ramaphosa, a position he held until 2021.

In his tribute, President Ramaphosa extended his condolences to Dr Mboweni's family and friends, praising him as "an activist, economic policy innovator, and champion of labour rights", who played a key role in South Africa's economic transformation, particularly in promoting fiscal discipline.