Zimbabwe
Zimbabwe’s President Emmerson Mnangagwa on Friday appointed John Mangudya for a second and final five-year term as central bank governor, a government official said.
Mangudya was first appointed to the post in 2014 but his term was marred by the bank’s decision to introduce the surrogate bond note currency two years later in a bid to end a severe shortage of U.S. dollars and cash.
“The extension takes effect from 1 May 2019 for another five years,” Misheck Sibanda, chief secretary to the president and cabinet said in a statement.
Mangudya’s appointment had been largely expected after Mnangagwa’s spokesman George Charamba said the governor would get a second term.
Zimbabwe is gripped by a severe shortage of dollars that has seen the country struggle to import food and medicines for hospitals.
01:02
Zimbabwe Senate approves bill to extend presidential term
02:20
Back to the roots: Zimbabwe’s traditional food revival gains momentum
11:20
Can African small businesses benefit from China's zero-tariff policy? {Business Africa}
11:19
Debt Crisis: Senegal turns to the IMF ? [Business Africa]
01:24
Five countries elected non-permanent members of UN Security Council
11:18
Dangote-backed mega refinery sparks east African competition {Business Africa}