HARARE – FBC Holdings chief executive John Mushayavanhu has been announced as the next Reserve Bank of Zimbabwe governor. He will take over from John Panonetsa Mangudya when his 10-year term of office ends on April 30, 2024.
Mangudya will thereafter lead the Mutapa Investment Fund.
Mushayavanhu has three decades experience in the banking sector but his next task would require him to maintain macro-economic stability and to restore confidence to the local currency, tasks which his predecessors from the turn of the century struggled with.
The appointments were made by Chief Secretary to the President and Cabinet, Martin Rushwaya, who said he followed the dictates of good corporate governance on succession planning for forward guidance of the market.