JUST-IN: Mangudya gets one more term at RBZ

President Mnangagwa has extended by another five years Reserve Bank of Zimbabwe Governor Dr John Mangudya’s stay at the helm of the central bank.

Chief Secretary to the President and Cabinet Dr Misheck Sibanda announced the extension through a press statement released Friday.

The extension of Dr Mangudya’s term was made in terms of Section 14 of the RBZ Act (Chapter 22:15) which stipulates among other conditions that “the Governor and Deputy Governors shall be appointed for their competence and experience in matters relating to banking, finance and economics.” (More to follow)

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