This is the biography of John Panonetsa Mangudya, the former governor of the Reserve Bank of Zimbabwe (RBZ). He played a crucial role in shaping the country’s monetary policies and navigating economic challenges.
John Mangudya Early Life and Education
John Panonetsa Mangudya, born on October 5, 1963, hails from the Mutambara area of Chimanimani in Manicaland, Zimbabwe. He is the youngest of twelve children. Mangudya’s academic journey led him to the University of Zimbabwe, where he earned both bachelor’s and master’s degrees in economics.
His academic achievements were recognised with several book prizes. Additionally, he holds a PhD in Economics from Washington International University, although critics have questioned the accreditation of this qualification.
John Mangudya: Reserve Bank of Zimbabwe Governorship
John Panonetsa Mangudya Biography [Image: Nehanda Radio]
Mangudya assumed the role of Reserve Bank of Zimbabwe (RBZ) governor on May 1, 2014, following his appointment by then-president Robert Mugabe. He succeeded Gideon Gono in this crucial position. During his tenure, Mangudya navigated significant economic challenges and introduced various monetary policies.
Bond Notes and Coins
Shortly after taking office, Mangudya introduced bond coins, initially positioned as legal tender pegged to the US dollar. These coins aimed to address the shortage of small change. Later, in November 2016, he introduced bond notes, pegged at the same value as the US dollar.
ZWL Dollar
As the bond notes faced devaluation against the US dollar, Mangudya implemented the ZWL Dollar in February 2019. This new currency aimed to stabilise the foreign exchange market, encourage diaspora remittances, and protect foreign investments and exports.
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John Mangudya Career Profile
John Panonetsa Mangudya Biography [Image: iHarare]
Mangudya’s banking career spans several key positions:
Reserve Bank of Zimbabwe (RBZ):
- Economist (1986-1996)
Afrixembank:
- Southern Africa Regional Manager (1996-1999)
CBZ Holdings Ltd:
- General Manager (International Banking) (2000-2004)
- Executive Director (2004-2006)
- Managing Director (2006-2012)
- Group CEO (2012-March 2014)
Reserve Bank of Zimbabwe (Second Term):
- Governor (March 2014-March 2024)
John Mangudya Personal Life
Dr Mangudya is married to Tapiwa Mangudya, and they have three children. He is an active member of the United Methodist Church.
References
- Zimbabwe appoints banker Mangudya new central bank governor – Reuters
- Zimbabwe Set To Introduce Bond Notes – VOA Zimbabwe
- Zimbabwe economy: New coins in circulation for Christmas – BBC
