Chikaura to stay put at RBZ

Shakeman Mugari

THE government has suspended plans to appoint a substantive governor of the Reserve Bank of Zimbabwe (RBZ) leaving Charles Chikaura holding fort in an acting capacity for a further six months

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RBZ sources said government would only appoint a governor early next year after which Chikaura is poised to officially land the hot seat.


Speculation has surrounded the position, which fell vacant after Dr Leonard Tsumba’s term of office expired in August after serving two terms.


Prominent bankers declined taking up the offer, saying there was too much government interference resulting in uncoordinated activities and unprofessionalism.


“There is information that the government will remain without a substantive head for the next six months,” an RBZ source said. “Chikaura will, therefore, remain in an acting capacity.”


Sources said the decision to suspend the much-awaited appointment was reached at a retreat held last week.


The businessdigest understands the meeting was held at a hotel in Selous from August 27 to 29 and the appointment of the new governor took centre stage.


The crippling cash crisis, bloated debt and fiscal indiscipline are also said to have been the main issues on the agenda.


It is reliably understood the Minister of Finance and Economic Development Herbert Murerwa, senior government officials and top RBZ officials also attended the occasionally heated meeting.