John Mangudya set for RBZ exit, new central bank governor named

By Staff Reporter

Reserve Bank of Zimbabwe (RBZ) governor is set to leave the central bank at the end of his term this coming April and will be succeeded by veteran banker John Mushayavanhu as new central bank chief.

In a statement Friday, Chief Secretary to the President and Cabinet Martin Rushwaya said the controversial central bank chief was taking up a post as Chief Executive Officer of the Mutapa Investment Fund.

“His Excellency the President has in terms of Section 8 (b) (1) of the Sovereign Wealth Fund Act [Chapter 22:20] appointed Dr. John Panonetsa Mangudya to the post of Chief Executive Officer of the Mutapa Investment Fund. Dr. Mangudya’s 10-year term of office at the helm of the Reserve Bank of Zimbabwe ends on 30 April 2024 in terms of Section 15(3) of the Reserve Bank of Zimbabwe Act [Chapter 22:15).

“Dr Mangudya shall be succeeded by Dr John Mushayavanhu as Governor of the Reserve Bank of Zimbabwe. Dr Mushayavanhu is a career banker, with over 30 years banking experience, having worked at Standard Chartered Bank and at FBC Bank in senior capacities. Dr Mushayavanhu holds several educational qualifications including a Masters Degree in Business Administration and a PhD in Business Administration,” Rushwaya said.

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