President Mnangagwa has extended the term of central bank governor Dr John Mangudya for another five years. Dr Mangudya has been in the post since March 2014.
In a Press statement yesterday, Chief Secretary to the President and Cabinet Dr Misheck Sibanda said the extension takes effect from May 1 for another five years.
Dr Mangudya succeeded Dr Gideon Gono as the governor of Zimbabwe’s central bank and became the nation’s 6th substantial exchequer.
“The Chief Secretary to the President and Cabinet, Dr Misheck Sibanda, has announced the extension of the term of office of the Reserve Bank Governor of Zimbabwe, Dr John Panonentsa Mangudya, by His Excellency the President of the Republic of Zimbabwe, Cde E.D. Mnangagwa, acting in terms of Section 14 of the Reserve Bank Act (Chapter 22:15).
“The extension takes effect from May 1, 2019 for another five years,” reads the statement.
Deputy Chief Secretary in the Office of the President and Cabinet (Presidential Communications) Mr George Charamba recently said President Mnangagwa was clear on the performance of the Reserve Bank chief and would renew his contract for a second tenure.
The Deputy Chief Secretary spoke in the wake of reports and frenzied social media speculation that Dr Mangudya had been or was about to be fired and was to be replaced by Mr Andrew Ndaamunhu Bvumbe, who recently left his executive directorship at the World Bank.