New RBZ Governor Disqualified.
30 March 2024
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By A Correspondent| Former FBC Bank Chief Executive Officer, John Mushayavanhu does not qualify to hold the office of Reserve Bank of Zimbabwe (RBZ) Governor because he violates one of the clauses in the Constitution which speaks about who qualifies to hold such a big office.

According to the Zimbabwe constitution enacted in 2013, no person shall hold the post of RBZ Governor when he is a shareholder in any banking institution.

It reads; A person shall not be appointed as Governor or Deputy Governor and no person be qualified to hold office as Governor or Deputy Governor if

a) he is a director, shareholder, officer or employee, or a member of any board or committee of any institution

Mushayavanhu has 7 percent shares in FBC Bank which he owned as recent as this year.

Mushayavanhu’s shares were revealed in a news article where FBC concluded the purchasing of Standard Chartered Bank and a breakdown of FBC shareholders shows that the new Governor is a part owner of the financial institution.