Govt to appoint acting RBZ governor | The Herald

via Govt to appoint acting RBZ governor | The Herald November 28, 2013

WITH the term of Reserve Bank governor Dr Gideon Gono due to expire this month, Government is set to appoint an acting governor while the search for his successor continues. Senior Government officials said while the Government was yet to come up with a suitable candidate, an acting governor would be appointed as it may take time to amend the Reserve Bank of Zimbabwe Act to provide for the extension of Dr Gono’s term.

Former RBZ governor Dr Leonard Tsumba’s term expired on June 30, 2003 and Charles Chikaura was appointed as acting governor for six months until Dr Gono took over.

Dr Gono was first appointed the central

bank governor in November 2003 and was re-appointed in November 2008 for another five-year term.

Earlier, indications were that his term would be extended by another year.

“In terms of the Reserve Bank of Zimbabwe Act, it would not have been possible to have his term extended,” said a Harare-based lawyer.

Dr Gono had recommended one of his deputies, an official said.

Over the past few months, several names have been linked to the hot seat. These included CBZ Holdings chief executive Dr John Mangudya, former CBZ Holdings chief executive Mr Nyasha Makuvise, African Development Bank chief economist Mthuli Ncube and head of debt and aid management in the Ministry of Finance Mr Andrew Bvumbe.

Dr Gono took over the hot seat at the RBZ when the economy was going into a slide. He came up with a number of policies, though widely criticised, in a bid to keep the country’s economy afloat. During his first term, the economy was going through its worst spell.

The economy experienced severe cash and fuel shortages, the highest inflation in the world – at 231 million percent at the last official count before dollarisation in June 2009 – corruption, high unemployment and the collapse of social sectors such as health and education.



  • comment-avatar
    chilimanzi 10 years ago

    There is no difference whoever its going to be will have to follow Gwara remusangano period.

  • comment-avatar
    Ngoma Huru 10 years ago

    If they employed one from abroad then we may see money in the bank

  • comment-avatar
    nyati 10 years ago

    This reporter is very kind with gono. Gono did every little thing that a governor of the reseve bank should not fiddle with. He did not only agree to mess hs name upbin fear of the political voice, but also finsnced the zanu madness. He is going out a failure, all the respect I had for you sir (even after your funny route thru that MBA), is gone. Nkosana Moyo said it all…… Regai akatiza.

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    Why is gono not doing hard Labour with mereki. I nominate chinotimba mahofa udenge mliswa jabulani or charumbira. They need a job

  • comment-avatar

    Governor or no governor its the same gara remusangano ndiro rinotonga.they better make all politbru members joint governors period cause they are the real governors behind th oppntd RBZ governor

  • comment-avatar
    easily fooled 10 years ago

    During Mr Gono’s tenure the economy was on auto cruise. He failed the economy. Twuma MBA twepasi pemuchakata mahwani, pasi pemuzhanje hapatorwi doctorate. Mr Gono, the holder of an honourary doctorate in political administration conferred by His Excellence, the Commander in Chief, the first father, the vice chancellor of all state universities in Zimbabwe. Soon after the honorary degree in political administration, he went to manage country short term monetary policies. Its not his fault, it is the fault of the one who appointed him. I doubt whether he spent any time at RBZ, bcoz all rallies addressed by HE he was also there. Remember, “ava vaGono varipano ava, vati vachatipa mari yekukutengerai mbeu neFertilizer”

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    Gavan Duffy 10 years ago

    Dr Gideon Gono is being investigated as having been financing a South African company who is involved in International money Laundering and he may well be placed on the personal sanctions travel ban – even Mugabe does not know about this.

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    afro hunk 9 years ago

    New Governor or not, stil no hope for our beloved poor Zimbabwe. Lord have mercy, corruption in Zim wil never end