John Mangudya

From Pindula

John Magundya
John Panonetsa Magundya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive since April 2012 before this appointment .In his maiden speech in May, he has called for fiscal discipline and a balance between indigenisation and need to attract foreign investment. His call came at a time when government is eager to implement the Indigenisation Act which requires all foreign owned companies to cede 51% of their shares to locals.

Background

He was born on the 5th of October 1963 in the Mutambara area of Chimanimani. He is the last born in a family of 12.[1]

Education

He holds a Doctorate in Philosophy (PHd) in Business Administration from Washington International University, a Bachelor of Science in Economics and a Master of Science degree in Economics from the University of Zimbabwe (UZ).

Board Membership

  • Managing Director, Executive Director and Member of Board Audit Committee
  • Member of Board Nominations Committee
  • Member of Board Remuneration & Termination Benefits Committee
  • Member of Board Corporate Governance Committee
  • Member of Board Lending Committee
  • Member of Main Board Committee
  • Member of Asset & Liability Management Committee
  • Member of Board Loans Review Committee
  • Member of Board Risk Committee [2]

Previous Positions

  • RBZ economist (986 - 1996).
  • African Export-Import Bank (Afreximbank) Regional manager in charge of Southern Africa(1996 - 1999)
  • 2000 to March 2014 CBZ:
  1. General manager (international banking) (2000 - 2004)
  2. Executive director (corporate and merchant banking) (2004 - 2006)
  3. Managing director (2006 - 2012)
  4. Group chief executive officer (2012 - March 2014)
  • Former Bankers’ Association of Zimbabwe president.

Maiden Speech

Mangudya, like his predecessor called for a cautious approach to the indigenisation policy. He said there was need to balance indigenisation and need to attract foreign investment. He was quoted as saying 'Zimbabwe needs discipline enough to find an equilibrium position or a point of harmony between the need to promote indigenisation and the need for foreign direct investment and the ability to synchronise the two.[3]

References

  1. John Mangudya Zimbabwe Financier, 'The African Millionare', Published: Mar 2014, Retrieved: 20 May 2014
  2. John Panonetsa Mangudya, 'Business Week', Retrieved: 20 May 2014
  3. New RBZ chief urges discipline, 'DailyNews', Published: 8 May 2014, Retrieved: 20 May 2014