Mnangagwa Appoints New Reserve Bank Governor
9 December 2023
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By- President Emmerson Mnangagwa has appointed John Mushayavanhu as the new Governor of the Reserve Bank.

Mushayavanhu will take over from John Mangudya in April 2024.

Mangudya is moving to the new Mutapa Investment Fund as chief executive.

The President appoints the Governor of the Reserve Bank in terms of the Reserve Bank of Zimbabwe Act and the head of the Mutapa Investment Fund in terms of the Sovereign Wealth Fund Act.
He can reappoint a Governor once for a second five year term, but at the end of a maximum of 10 years there has to be a new person.
Chief Secretary to the President and Cabinet, Dr Martin Rushwaya, made the announcements of the changes at the Reserve Bank and Mutapa Investment Fund in a statement yesterday.
Dr Mushayavanhu is a career banker with over 30 years banking experience, having worked at Standard Chartered Bank and FBC Bank in senior capacities.
He holds several educational qualifications, including a Master’s Degree in Business Administration and a PhD in Business Administration.
“These senior appointments have been made in line with the dictates of good corporate governance on succession planning for forward guidance of the market,” said Dr Rushwaya.
In another Presidential appointment, the Permanent Representative to the United Nations in New York Ambassador Albert Chimbindi becomes the new Permanent Secretary for Foreign Affairs and International Trade taking over from Ambassador James Manzou who is due to retire tomorrow but has been appointed by the President to the Commission of the Public Service Commission from January 1 next year.
Ambassador Manzou holds a first degree in Public Administration and a Master’s in Business Administration.
He joined the foreign service as a desk officer in 1980, and rose through the ranks to counsellor, under secretary, deputy ambassador and ambassador in stations that included Russia, Germany, Angola and Geneva.
Ambassador Manzou was subsequently elevated to the post of Director Regional and Continental Integration in 2014 and Permanent Secretary in the Ministry of Foreign Affairs and International Trade in 2018.
Ambassador Manzou, who has served in Government for over 43 years, possesses extensive knowledge and experience in public administration, with a pointed focus in the management of foreign or diplomatic service.
Dr Rushwaya said his vast experience will greatly enhance the work of the Public Service Commission with regard to foreign service.
Ambassador Chimbindi holds a Bachelor of Science Degree in Politics and Administration and a Master of Science Degree in International Relations.
He joined the Ministry of Foreign Affairs as an administrative officer in 1986, and rose to deputy director and director in the same ministry.
Ambassador Chimbindi was first secretary and head of chancery at the Embassy of Zimbabwe in Dakar, Senegal, counsellor at the Embassy of Zimbabwe in Paris, France, and subsequently Minister Counsellor at the Embassy of Zimbabwe in Brussels.