HARARE – President Robert Mugabe has appointed John Mangudya, the head of Zimbabwe’s largest financial institution, as the governor of the central bank, state media reported on Sunday.
Mangudya, 51, the current chief executive of CBZ Holdings, will replace Gideon Gono, who retired last November at the expiry of his second term. Gono is also a former CBZ chief executive.
CBZ has been handling the government’s consolidated revenue account since 2009, when the economy dollarized and left the undercapitalised central bank unable to fully perform its roles in the economy.
Mangudya, a University of Zimbabwe-trained economist, will start his five year term from May 1.
A Methodist born 5 October 1963 in Mutambara, Chimanimani, the last in a family of 12
An affable economist, with a slight stutter. Considers himself an adherent of Keynesian demand-side economics
- 1986 – Joined Reserve Bank of Zimbabwe as an economist
- 1996 – left RBZ, having risen to become Principal Economist
- 1996 to 1999 –Joined the African Export and Import Bank (Afreximbank) as the regional manager in charge of Southern Africa based in Harare.
- 2000 – CBZ Bank General Manager, International Banking CBZ Bank managing director
- 2004 – CBZ Bank Executive Director – Corporate and Merchant Banking
- 2006 – Appointed CBZ Bank Managing Director
- 2012 – CBZ Holdings Group Chief Executive
- 2009-11 Bankers Association of Zimbabwe President
Under his watch, CBZ Holdings has grown both assets and deposits above $1 billion.
– The Source