President Emmerson Mnangagwa has appointed career banker and FBC Holdings Chief Executive Officer, Dr John Mushayavanhu as the next Reserve Bank of Zimbabwe (RBZ) Governor.
Dr Mushayanhu assumes office on the 1st of May 2024 replacing Dr John Mangudya whose 10-year term at the RBZ ends on 30 April 2024.
The news was released by the Chief Secretary to the President and Cabinet, Dr Martin Rushwaya.
“Dr Mangudya shall be succeeded by Dr John Mushayavanhu as Governor of the Reserve Bank of Zimbabwe”, read the statement.
Dr John Mangudya has been reassigned to the position of Chief Executive Officer of the Mutapa Investments Fund.
Dr Mushayavanhu is an Associate of the Institute of Bankers in Zimbabwe (AIBZ), and holds a Diploma in Management from Henley Management College, United Kingdom, as well as a Masters degree in Business Administration from Brunel University, United Kingdom and a Doctorate in Business Administration from Binary University, Malaysia.
He has over 41 years in the financial services sector and has previously held senior positions in corporate and retail banking.
Currently he is the Chief Executive Officer of FBC Holdings Limited, a diversified financial services firm.
President Mnangagwa has moved to ensure there is a proper succession planning with these appointments and reassignments.
“These senior appointments have been made in line with the dictates of good corporate governance on succession planning for forward guidance of the market,” read the statement.
Dr Mushayanhu’s is expected to continue with the tight monetary policy regime bent on stabilising the exchange rate and restore confidence in the banking sector.
