By Staff Reporter

PRESIDENT Emmerson Mnangagwa has extended the term of office of Reserve Bank of Zimbabwe governor John Mangudya by another five years.

In a statement last night, the Chief Secretary to the President and Cabinet, Misheck Sibanda, said Mnangagwa extended Mangudya’s term of office in terms of section 14 of the Reserve Bank Act (Chapter 22:15).

He said the extension was with effect from May 1.

Mangudya was appointed in 2014 to replace Gideon Gono and speculation has been rife that his term might not be renewed following the appointment of Mthuli Ncube as Finance minister after last year’s elections.

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