HARARE – President Emmerson Mnangagwa has extended the term of central bank governor Dr John Mangudya for another five years.
Dr. Mangudya has been in office since March 2014. In a press release yesterday, the Chief Secretary to the President and Cabinet, Dr. Mischeck Sibanda said the extension will come into effect on May 1 for another five years.
Mangudya has been criticized for remaining in office despite promising to quit if his Bond Notes-signed “export boost” policy fails.
Meanwhile, the World Bank announced yesterday that it has mobilized more than half a billion dollars in new resources to help the people of Mozambique, Malawi and Zimbabwe affected by Cyclone Idai.
This comes after the United Nations Organization for the Coordination of Humanitarian Affairs (UNOCHA) announced that more than 100 schools in the Cyclone Idai-affected areas of Chimanimani and Chipinge are not ready to reopen.
According to the UN agency, more than 90,000 schoolchildren have been affected by the tropical storm.