![President Emmerson Mnangagwa has appointed FBC Holdings Limited Group CEO, Dr John Mushayavanhu, as the new governor of the Reserve Bank of Zimbabwe (RBZ). He will replace Dr John Mangudya whose second term ends in April next year. Dr Mangudya will become CEO of the newly established Mutapa Investment Fund. Read Also: Mthuli Ncube defends his 2024 National Budget tax regime The announcement was made on Friday by Dr Martin Ruswaya, chief secretary to the President and Cabinet. “His Excellency the President has in terms of Section 8 (b) (1) of the Sovereign Wealth Fund Act [Chapter 22:20] appointed Dr. John Panonetsa Mangudya to the post of CEO of the Mutapa Investment Fund. Dr. Mangudya’s 10-year term of office at the helm of the Reserve Bank of Zimbabwe ends on 30 April 2023. Dr. Mangudya shall be succeeded by Dr. John Mushayavanhu as Governor of the Reserve Bank of Zimbabwe,” reads part of the Rushwaya statement. The incoming governor is an Associate of the Institute of Bankers in Zimbabwe (AIBZ). He has over 41 years in the financial services sector having previously held senior positions in corporate and retail banking with a local multinational bank. Mushayavanhu is a former President of the Bankers Association of Zimbabwe (BAZ) and joined FBC Bank as an Executive Director in the Corporate Banking division in October 1997. He became Managing Director in 2004 and was appointed Chief Executive of FBC Holdings on the 1st of June 2011.](https://i0.wp.com/hararelive.com/wp-content/uploads/2023/12/john-mushayavanhu-1080.jpeg?resize=780%2C470&ssl=1)
President Emmerson Mnangagwa has appointed FBC Holdings Limited Group CEO, Dr John Mushayavanhu, as the new governor of the Reserve Bank of Zimbabwe (RBZ).
He will replace Dr John Mangudya whose second term ends in April next year.
Dr Mangudya will become CEO of the newly established Mutapa Investment Fund.
Read Also: Mthuli Ncube defends his 2024 National Budget tax regime
The announcement was made on Friday by Dr Martin Ruswaya, chief secretary to the President and Cabinet.
“His Excellency the President has in terms of Section 8 (b) (1) of the Sovereign Wealth Fund Act [Chapter 22:20] appointed Dr. John Panonetsa Mangudya to the post of CEO of the Mutapa Investment Fund. Dr. Mangudya’s 10-year term of office at the helm of the Reserve Bank of Zimbabwe ends on 30 April 2023. Dr. Mangudya shall be succeeded by Dr. John Mushayavanhu as Governor of the Reserve Bank of Zimbabwe,” reads part of the Rushwaya statement.
The incoming governor is an Associate of the Institute of Bankers in Zimbabwe (AIBZ).
He has over 41 years in the financial services sector having previously held senior positions in corporate and retail banking with a local multinational bank.
Mushayavanhu is a former President of the Bankers Association of Zimbabwe (BAZ) and joined FBC Bank as an Executive Director in the Corporate Banking division in October 1997.
He became Managing Director in 2004 and was appointed Chief Executive of FBC Holdings on the 1st of June 2011.
