Mnangagwa extends Mangudya’s term by another five years

President Emmerson Mnangagwa today extended the term of office of central bank governor John Mangudya by another five years with effect from 1 May.

This will be his final term.

There had been speculation that Mnangagwa might not extend Mangudya’s term as he is reportedly not working well with Finance Minister Mthuli Ncube.

One of Mnangagwa’s advisors Eddie Cross last week said Mangudya was sabotaging Ncube’s reform programme but some say the extension of Mangudya’s term shows Mnangagwa’s confidence in his team.

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