Categories: Zim Latest

John Mushayavanhu Appointed RBZ Governor, John Mnangudya Gets Another Job

In a recent announcement, the presidency revealed that John Mushayavanhu, the CEO of FBC Holdings and a business associate of President Emmerson Mnangagwa, is set to assume the role of governor of the central bank from May 1, 2024. This move comes as part of a succession plan in accordance with good corporate governance principles.

The current governor, John Mangudya, who is in his second and final term, will transition to the role of CEO at the Mutapa Investment Fund. The appointments, as noted by the chief secretary to the president and cabinet, Martin Rushwaya, align with the principles of good corporate governance for effective succession planning.

Mushayavanhu brings over four decades of experience in the financial services sector, including a previous role at Standard Chartered Bank. However, this appointment has sparked renewed accusations of nepotism against President Mnangagwa, with critics alleging a pattern of hiring family members and clansmen for key government positions during his final term. Mushayavanhu’s business ties with Mnangagwa, dating back to their partnership during Zimbabwe’s involvement in the Democratic Republic of Congo in 1999, add fuel to existing concerns about political cronyism. Reports suggesting familial connections between Mnangagwa and Mushayavanhu further intensify the scrutiny surrounding these appointments.

Share

Recent Posts

Minor (1) dies from burns after boiling pot fell on her

The Zimbabwe Republic Police (ZRP) has reported a sad incident which occurred at a house… Read More

24th February 2024

1 person killed, another injured in fatal RTA

File image The Zimbabwe Republic Police (ZRP) has confirmed a fatal road traffic accident which… Read More

23rd February 2024

RBZ Gold Coin and Gold-backed Digital Token Prices – 23 February 2024

The Reserve Bank of Zimbabwe -RBZ- has released the latest prices for the gold coins… Read More

23rd February 2024

The Rise of Peptide Use in Improving Endurance and Strength in Sports

In the world of sports performance enhancement, athletes are constantly seeking new methods to gain… Read More

23rd February 2024

Zim beauty queen in top 5 for Miss World Head to Head Challenge

Zimbabwean beauty queen, Nokutenda Marumba is in the top five at the Miss World Head… Read More

23rd February 2024

Chaplain Phiri Overwhelmed as Sir Wicknell Gifts Car and $10,000, Recalls Emotional Journey

Chaplain Phiri was overcome with emotion as she expressed her gratitude to Sir Wicknell for… Read More

23rd February 2024