Mnangagwa Appoints John Mushayavanhu As RBZ Governor
Reserve Bank of Zimbabwe (RBZ) Governor John Panonetsa Mangudya is set to leave his post at the central bank when his 10-year term of office ends in April next year.
According to a statement issued by the Chief Secretary to the President and Cabinet, Martin Rushwaya this Friday. Mangudya will become the Chief Executive Officer of the Mutapa Investment Fund when he leaves the central bank.
John Mushayavanhu, the FBC Holdings Group Chief Executive Officer, will take over from Mangudya as RBZ Governor. Read the statement:
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 of banking experience, having worked at Standard Chartered Bank and FBC Bank in senior capacities.
Dr. Mushayavanhu holds several educational qualifications including a Master’s Degree in Business Administration and a PhD in Business Administration.
These senior appointments have been made in line with the dictates of good corporate governance on succession planning for forward guidance of the market.
Journalist Hopewell Chin’ono has described Mushayavanhu as President Emmerson Mnangagwa’s “clansman”, adding that the President’s “surrogates” from Masvingo and Midlands Provinces are now in charge of key State institutions. Said Chin’ono:
The appointment of President Mnangagwa’s clansman, John Mushayavanhu as the new Reserve Bank Governor is hidden in this appointment of John Mangudya.
Mnangagwa has completed the takeover of all key Zimbabwean institutions appointing his surrogates from the Midlands and Masvingo!
His “boys and girls” are now fully in charge of all key State institutions!
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