Former South African Reserve Bank governor Tito Mboweni's appointment as AngloGold Ashanti's new chairperson was a reward for having protected the interests of "male white capital", the African National Congress Youth League (ANCYL) said on Wednesday.

"Tito Mboweni's appointment into a mining corporation is not at all surprising and reflects the reactionary, nonsensical and backward views he expressed when he was the mis-governor of the South African Reserve Bank, that Mines will not be nationalised in South Africa," it said in a statement.

"There is no doubt that Tito Mboweni was speaking the views of white capitalists, like those who did in the recent past, which controls the South African economy... particularly the extraction, processing and trade of minerals."

Mboweni's appointment, or any other "amount of diversions - including by co-opted black reactionaries, would not deter the ANC Youth League from forging forward with the nationalisation of mines", it said.

"The nationalisation of mines is the key towards decisive and radical economic transformation which will benefit all South Africans, particularly the working class and the poor.

"That is why the national general council in September 2010, the national conference of the ANC in December 2012 will resolve on the nationalisation of mines. Enrichment of few individuals will never assist majority of our people (sic)," it said.

Mboweni's appointment takes effect from June 1, 2010. He succeeds Russell Edey.

Mboweni has also been appointed as the chairperson of packaging group, Nampak. He succeeds outgoing chairman Trevor Evans from June 1.