RBZ boss' job is on the line

RBZ boss' job is on the line
Published: 25 September 2018 (232 Views)
RESERVE Bank of Zimbabwe Governor John Mangudya's job is on the line, NewZImbabwe.com reported.

President Emmerson Mnangagwa visited the RBZ unannounced last week, sparking further speculation regarding Mangudya's future.

The Zimbabwean leader has signalled a fresh thrust at Treasury after removing long-serving permanent secretary Willard Manungo and bringing in former Barclays CEO George Guvamatanga.

Top Zanu-PF politician Patrick Chinamasa was also axed as finance minister to be replaced by internationally renowned economist and public policy expert Prof Mthuli Ncube.

And sources said RBZ boss Mangudya would be shown the door too as Mnangagwa looks for new thinking in dealing with the country's intractable economic problems.

"Mangudya's days are numbered. It's highly unlikely he will keep his job and if he does it will only be until his term ends in February next year," NewZimbabwe.com heard.

Mangudya took over as RBZ chief in March 2014, replacing Gideon Gono who is blamed for the hyperinflationary mayhem of the period up to 2008.

Meanwhile, another career banker and Mnangagwa protégé John Mushayavanhu has been tipped to take over should Mangudya be shown the door.

"Mushayavanhu is Mnangagwa's homeboy and has headed First Banking Corporation in which Mnangagwa is reported to have interests.

"Mushayavanhu has also been linked with Zuva Petroleum where the President is reportedly a shareholder," another source said.

To complicate matters for Mangudya, sources say he does not see eye-to-eye with Guvamatanga.

"Guvamatanga wanted to be chief executive officer of CBZ Bank when Mangudya left but the RBZ boss blocked the move," said a source familiar with the developments'

"There is bad blood between the two and it is difficult to see how they are going to work together given Guvamatanga is now effectively Mangudya's boss."

Before his appointment as RBZ chief Mangudya, was chief executive at CBZ Holdings.



- newzimbabwe

Tags: Mangudya, RBZ, Job,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

MDC exposed for 'lying'

by Mandla Ndlovu | 11 December 2018 | 134 Views

WATCH: Worms and black water in Harare taps

by Mandla Ndlovu | 11 December 2018 | 92 Views

Drama at Tendai Biti's trial

by Mandla Ndlovu | 11 December 2018 | 148 Views

Calls for diaspora vote at ZANU PF conference

by Fidelis Fengu | 11 December 2018 | 105 Views

Mawere threatens Ginimbi

by Mandla Ndlovu | 11 December 2018 | 129 Views

Michael Reza not fit to be a prosecutor

by Jacob Mafume, MDC National Spokesperson | 11 December 2018 | 99 Views

Mnangagwa is failing Zimbabwe

by Frazer Muzondo, MDC UK and ROHR ZIM | 11 December 2018 | 140 Views

Surviving under sanctions 101

by Never Maswerasei | 11 December 2018 | 83 Views

Mnangagwa consolidates power

by Staff reporter | 11 December 2018 | 114 Views

Chamisa and Biti's hypocrisy exposed

by Dr Masimba Mavaza | 11 December 2018 | 159 Views

Grace Mugabe tormented villagers face fresh eviction threats

by newzimbabwe | 11 December 2018 | 167 Views

'Bulawayo industry revival vital'

by Staff reporter | 11 December 2018 | 98 Views

Ex-Immigration Dept officials face sexual harassment probe

by Staff reporter | 11 December 2018 | 114 Views

SA eases children's travel requirements

by Staff reporter | 11 December 2018 | 123 Views

Bosso sweat over players contracts

by Staff reporter | 11 December 2018 | 102 Views

Zanu-PF allocates buses to each district

by Staff reporter | 11 December 2018 | 111 Views

Bulawayo fertility centre helps 17 couples in first year

by Staff reporter | 11 December 2018 | 109 Views

Mnangagwa will publicise shootings report

by Staff reporter | 11 December 2018 | 88 Views

Biti demands Zec server

by Staff reporter | 11 December 2018 | 90 Views

Zanu-PF conference venue in lockdown

by Staff reporter | 11 December 2018 | 94 Views

Mathema, Matanga sued

by Staff reporter | 11 December 2018 | 86 Views

Undenge acquitted in Chivayo fraud case

by Staff reporter | 11 December 2018 | 87 Views

Mnangagwa urged to urgently align laws with Constitution

by Staff reporter | 11 December 2018 | 81 Views

Zimbabwe's first school of politics opened

by Staff reporter | 11 December 2018 | 76 Views

Kamambo promises bliss

by Staff reporter | 11 December 2018 | 81 Views

'Withhold Parliament benefits for rowdy MDC legislators'

by Staff reporter | 11 December 2018 | 80 Views

Gweru hikes burial fees 100%

by Staff reporter | 11 December 2018 | 78 Views

Chiefs in a fix over settling witchcraft cases

by Staff reporter | 11 December 2018 | 78 Views

Zanu-PF women target Chamisa over presidential age limit

by Staff reporter | 11 December 2018 | 49 Views

Biti applies for exception to all charges

by Staff reporter | 11 December 2018 | 46 Views

Mutsvangwa stands down

by Staff reporter | 11 December 2018 | 69 Views

Arthur Mutambara trashes GNU talk

by Staff reporter | 11 December 2018 | 56 Views

Overturning donkey cart kills 12-year-old

by Staff reporter | 11 December 2018 | 48 Views

Zimbabwean woman was strangled in UK

by Staff reporter | 11 December 2018 | 58 Views

Zacc opens Bulawayo office

by Staff reporter | 11 December 2018 | 52 Views