Mangudya's Job On The Line, FBC's Mushayavanhu Tipped To Replace Him

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya’s job is reported to be on the line as President Emmerson Mnangagwa is said to be looking at revamping Treasury. Mnangagwa has already replaced former Minister of Finance Patrick Chinamasa and former Permanent Secretary Willard Manungo in favour of Mthuli Ncube and former Barclays CEO George Guvamatanga. First Banking Corporation (FBC) boss John Mushayavanhu has been tipped to replace Mangudya.

Sources who spoke to New Zimbabwe,

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…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.

Mangudya who promised to resign if the bond notes failed has refused to honour his promise saying that bond notes have been a success.

Related:

• RTGS Balances Are A Form Of Cryptocurrency: Mangudya

• I Won’t Resign Because Bond Notes Have Been Successful Says Mangudya

More: New Zimbabwe