Published: 25 March 2014

CBZ Holdings CE John Mangudya has been named the new Reserve Bank of Zimbabwe (RBZ) governor.

Mangudya replaces Gideon Gono who was also head of CBZ before assuming charge at the central bank in 2003.

Gono stepped down from the RBZ last year, leaving his deputy Charity Dhliwayo running the apex bank as acting governor.  

The new central bank chief holds a BSc and MSc in Economics from University of Zimbabwe as well as a PHD in Business Administration from Washington International University.

He takes over an RBZ hamstrung by debts of more than $1 billion and unable to perform its lender of last resort function due to undercapitalisation.

Confirming the appointment, Chinamasa told the Sunday Mail: "His Excellency, the President of the Republic of Zimbabwe, R. G. Mugabe, has appointed John Panonetsa Mangudya Governor of the Reserve of Bank of Zimbabwe with effect from 1 May 2014 for a period of five years."
- sundaymail

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