By Paul Nyathi|State media reports today that President Emmerson Mnangagwa will be extend battling Reserve Bank of Zimbabwe governor John Mangudya’s contract.

According to the state run Herald Newspaper, Mnangagwa is happy with Mangudya’s performance and is about to renew his contract for a second tenure and Deputy Chief Secretary in the Office of the President and Cabinet (Presidential Communications) Mr George Charamba confirmed the move.

‘‘The President is very clear on the Reserve Bank Governor’s tenure and his performance. Not only is he there to stay but the President is about to renew his contract for a second tenure,’’ Mr. Charamba said.

The Deputy Chief Secretary spoke in the wake of reports and speculation that Dr Mangudya had been or was about to be fired and was to be replaced by one Andrew Ndaamunhu Bvumbe who recently left his executive directorship with the World Bank.

Dr Mangudya took over as central bank governor from Dr Gideon Gono on May 1 2014, becoming the country’s sixth central bank governor.