John Mangudya will not present the much-awaited Monetary Policy Statement after President Emmerson Mnangagwa ended his tenure as Reserve Bank of Zimbabwe (RBZ) governor, a month earlier.
In a notice published in a Government Gazette Thursday, Finance minister Mthuli Ncube said: “It is hereby notified that His Excellency the President has, in terms of section 14 of the Reserve Bank of Zimbabwe Act [Chapter 22:15] appointed John Mushayavanhu as the governor of the Reserve Bank of Zimbabwe for a period of five years beginning on March 28, 2024, and ending on March 27, 2029.”
In December, Mnangagwa appointed Mushayavanhu as Mangudya’s successor and was supposed to begin new duties on May 1.
Mangudya’s term was due to end on April 30 and was supposed to take over as Mutapa Investment Fund chief executive officer on May 1.
However, the veteran banker had commenced his new duties earlier.
