Tito heading for Cabinet?

Former Reserve Bank governor Tito Mboweni, who has in the past been notoriously vague about his plans, has resigned as Anglo-Gold Ashanti chairman, the company announced yesterday.

This stoked rumours that he is getting ready to take a high-profile job in the government.

When he quit the Reserve Bank in 2009 he said he was off to farm avocados in Limpopo. But soon his name started popping up in the private sector.

Mboweni will not stand for re-election as chairman "as a result of his increasing portfolio of professional commitments", the company said.

Whether these professional commitments include a role in the executive branch of the government Mboweni has not said.

He has, however, dismissed suggestions that he will be the next finance minister.

Tweeting on Saturday, he said: "This [appointment] is the president's prerogative. Media running ahead of decisions. Bad."

But, with five years of experience as labour minister in former president Nelson Mandela's cabinet, and a decade at the helm of the Reserve Bank, many will be wondering if Mboweni will get the important role of liaising with and regulating the mining sector.

At the Mining Indaba, in Cape Town earlier this month, the air was heavy with talk of Mining Minister Susan Shabangu exiting after May's general election.

AngloGold Ashanti's board election is scheduled for the same month, making Mboweni's availability very convenient if he wants to avoid a conflict of interest.

Shabangu famously had a public outburst early last year, slamming Anglo American Platinum's restructuring plans as "unilateral" and in "bad faith".

At this year's Mining Indaba she missed a golden - or even platinum - opportunity to reassure global investors about South Africa as a mining investments destination.

Mboweni has been lauded by AngloGold for his role in a tough operating environment.

"Mboweni's decision to step down comes after a period of sustained improvement from Anglo- Gold Ashanti," the company said yesterday.

Commentators are now watching to see if resigns his chairmanship of SacOil.