New Governor Appointed as Mangudya’s Tenure Ends

End of Mangudya’s Tenure as RBZ Governor

John Mangudya’s term as the Governor of the Reserve Bank of Zimbabwe (RBZ) has come to an early end, as President Emmerson Mnangagwa appointed a new governor. Mangudya’s tenure was originally scheduled to end on April 30, and he was set to take on the role of Chief Executive Officer at Mutapa Investment Fund on May 1.

In a notice published in a government gazette, Finance Minister Mthuli Ncube announced that President Mnangagwa had appointed John Mushayavanhu as the new Governor of the RBZ. Mushayavanhu’s appointment is in accordance with section 14 of the Reserve Bank of Zimbabwe Act [Chapter 22:15]. He will serve as governor for a period of five years, starting from March 28, 2024, until March 27, 2029.

President Mnangagwa had previously appointed Mushayavanhu as Mangudya’s successor in December. The plan was for Mushayavanhu to assume his new role on May 1, while Mangudya would transition to his position as the Chief Executive Officer of Mutapa Investment Fund. However, it seems that Mangudya has already begun his duties in his new role as the veteran banker.