New Reserve Bank governor appointed

John Mangudya, the chief executive of the Commercial Bank of Zimbabwe, has been appointed the governor of the Reserve Bank of Zimbabwe with effect from 1 May, replacing Gideon Gono who was chief executive of the same bank before being appointed central bank governor. Charity Dhliwayo, one of the two deputies with Kupukile Mlambo at the RBZ, has been acting governor since Gono’s department in November. Mangudya worked as an economist at the Reserve Bank before joining the African Export-Import Bank as regional manager for Southern Africa. He joined CBZ as general manager for international banking in 2000 and rose through the ranks before being appointed chief executive in 2009. Mangudya joins the central bank after Afreximbank has just pumped in US$100 million into the reserve bank to resuscitate the interbank market which collapsed five years ago when the Zimbabwe phased out the Zimbabwe dollar.

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