John Panonetsa Mangudya (born 5 October 1963) [1] is a former governor of the Reserve Bank of Zimbabwe. [2] [3] He was appointed in March 2014 by the then Zimbabwean president, Robert Mugabe, and began his tenure as governor on 1 May that year. His second 5 year term ended on 28 March 2024. [4] He succeeded Gideon Gono as the governor of Zimbabwe's central bank and became the nation's 6th substantial exchequer. [5]
Mangudya was born in the Mutambara area of Chimanimani, in Manicaland, [1] the youngest of twelve children. [3]
Mangudya earned bachelor's and master's degrees in economics from the University of Zimbabwe, where he won several book prizes for his academic achievements. He also has a PhD in Economics from Washington International University. [6] His PhD qualification however, has been questioned by critics who have noted that it was obtained from an unaccredited institution in the United States. [7] [8]
John Mangudya started work as RBZ governor on 1 May 2014 after being appointed into office by Robert Mugabe. [9] He took over from Charity Dhliwayo who had been acting since November 2013 following Gideon Gono's retirement. In May 2019, his expired contract was renewed for a further 5 years by Emmerson Mnangagwa. [10] He was succeeded by John Mushayavanhu in March 2024. [4]
A few months after assuming office, Mangudya introduced bond notes at that time stated not to be a currency, but a legal tender pegged to be with the same value as the US dollar. The coins were introduced to remedy a lack of small change. [11] In November 2016, Mangudya also introduced bond notes, pegged at the same value as the US Dollar again. [12]
The bond notes and coins continued losing value against the US dollar on the parallel market and this led Mangudya to the introduce a new currency, the RTGS Dollar in February 2019. The RTGS dollar was introduced to bring sanity in the foreign currency market, promote diaspora remittances, protect foreign investments and exports. [13]
Period | Company/Organisation | Position held |
---|---|---|
1986-1996 | Reserve Bank of Zimbabwe | Economist |
1996-1999 | Afrixembank | Southern Africa regional manager |
2000-2004 | CBZ | General manager |
2004-2006 | CBZ | Executive director |
2006-2012 | CBZ | Managing director |
2012- March 2014 | CBZ | Group CEO |
March 2014 – Present | Reserve Bank of Zimbabwe | Governor |
Organisation | Position |
---|---|
Industrial Development Corporation of Zimbabwe | Chairman |
Agricultural Marketing Authority of Zimbabwe | Chairman |
Afreximbank | Board member |
Africa University | Board member |
Mangudya is married to Tapiwa Mangudya and they have three children. He is a member of the United Methodist Church. [9]