President Emmerson Mnangagwa Appoints Dr John Mushayavanhu as New Governor of the Reserve Bank of Zimbabwe

President Emmerson Mnangagwa Replaces Dr John Mangudya with Dr John Mushayavanhu as the New Governor of the Reserve Bank of Zimbabwe

President Emmerson Mnangagwa has appointed Dr John Mushayavanhu as the new Governor of the Reserve Bank of Zimbabwe with immediate effect.

Dr John Mushayavanhu has replaced Dr John Mangudya, who was first appointed as the Reserve Bank Governor in 2014.

In 2019, President Emmerson Mnangagwa reappointed John Mangudya for a second and final five-year term as the Reserve Bank Governor.

Also Read: Zimbabwe’s Financial Landscape Shifts: President Mnangagwa Appoints Trailblazing Banker as New RBZ Governor

Five-Year Term: Dr John Mushayavanhu Takes Over as Governor of Reserve Bank of Zimbabwe

In a government gazette statement released today, President Emmerson Mnangagwa appointed banker Dr John Mushayavanhu as the Governor of the Reserve Bank of Zimbabwe, in accordance with section 14 of the Reserve Bank of Zimbabwe Act [Chapter 22:15].

President Emmerson Mnangagwa Appoints Dr John Mushayavanhu as New Governor of Reserve Bank of Zimbabwe (Image Credit: X @NewsHawksLive)

He is expected to serve as the Governor for five years.

“RESERVE BANK OF ZIMBABWE ACT [CHAPTER 22:15]
Appointment of Governor of Reserve Bank of Zimbabwe
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 28th March 2024, and ending on the 27th March 2029.”

Dr John Mushayavanhu’s term starts today, March 28, 2024, and ends on March 27, 2029.

Monetary Policy Update: Dr Mangudya and Dr Mushayavanhu to Jointly Issue Statement After Easter Holidays

Meanwhile, incumbent Dr John Mangudya’s term reportedly ends on 30 April 2024.

According to News Hawks, the delayed money policy statement is reportedly set to be jointly issued by Dr Mangudya and Dr Mushayavanhu after the Easter holidays.

After the release of the monetary policy statement, Dr Mangudya is set to assume his duties as the new chief executive of the Mutapa Investment Fund.

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