RBZ deputy governors still to be appointed

years after their contracts expired, a parliamentary committee heard yesterday.
Minister Biti has recommended new deputy governors to replace Dr Nick Ncube, Ms Charity Dhliwayo and Edward Mashiringwane.
However, the three remain in the employ of the central bank with full benefits. The current RBZ Act provides for two deputy governors of the central bank to assist the incumbent governor with planning and policy implementation.
The three deputy governors of the RBZ should be appointed or reappointed by President Mugabe after recommendations by the minister of finance. But three years after contracts for the RBZ deputy governors expired, Minister Biti has reportedly not made recommendations to have the appointments effected.
Their absence has left the central bank governor with the burdens of making all binding decisions concerning the country’s apex bank.
Appearing before a Parliamentary Portfolio Committee on Budget and Finance, Dr Gono said the situation was stressful, as he had to make all decisions.
“Since the expiry of their contracts they have not had their contracts renewed or rejected. There are legal constraints as they cannot take actions in a binding manner on behalf of the (central) bank,” said RBZ governor.
“The fear is that two years down the line there will be talk that there was (corporate governance) compromise in the running of the bank,” said Dr Gono.
He said in terms of creating proper corporate governance structures the Government should reappoint his deputies or appoint new faces to assist him. The Governor wrote to Minister Biti to act on the issue but the minister has remained quiet despite the urgency of the matter.