Outgoing Reserve Bank of Zimbabwe Governor Dr John Mangudya has clarified that he signed his performance contract yesterday as the central Bank chief, an office he holds until April 30.
Responding to inquiries by The Herald as to which contract he signed since he was leaving the RBZ in a few weeks before assuming his new role as Mutapa Investment Fund chief executive, the Governor said:
“I signed the performance contract between the Governor of the Reserve Bank of Zimbabwe and His Excellency the President for the office of the Governor as the current office bearer.
“The functions of the Reserve Bank of Zimbabwe and thus of its Governor are spelt out in Section 6 of the Reserve Bank of Zimbabwe Act (Chapter 22:15) and these are the functions that constitute or are the basis of the performance contract,” said Dr Mangudya.
Some observers had interpreted his signing as an indication that his tenure at the central bank had been extended while others thought he had signed a performance contract for the Mutapa CEO, an indication that he had already left the central bank.
He leaves office on April 30 when his term of office expires. He is being succeeded by former FBC Bank CEO Dr John Mushayavanhu who assumes office in a few weeks on May 1.
Dr Mangudya has been at the helm of the apex bank since May 1 2014.
Analysts confirmed the incoming Governor would continue with the performance contract signed yesterday.
“The contract is not person to holder. It is signed by the Governor on behalf of the office of the Governor so when Mangudya leaves, Mushayavanhu will take over on the same contract,” said one analyst.
