gono fat.jpgGovernment has appointed Reserve Bank of Zimbabwe Governor Dr Gideon Gono as chairman of a new central bank board whose mandate is to restore viability to the bank and craft policies to consolidate macro- economic gains.
 

As chairperson of the new board Dr Gono  which was was announced by Finance Minister Mr. Tendai Biti, Dr Gono is expected to play a leading role in the turnaround strategy of the country’s central bank.

Minister Biti said Dr Gono, who is also the RBZ Governor, will chair the board as government seeks to ensure that the central bank returns to its core business .

 

“Dr Gono will chair the board and I am optimistic the new system will recapitalise the RBZ,” the minister said.

 

The Governor said in spite of challenges currently prevailing, the central bank is still committed to economic revival.

 

 “The bank has been operating under tough times but it still has the potential to recover,” Dr Gono said.

 

The announcement of the new RBZ board comes at a time when government is planning to inject fresh capital into the central bank after it was allocated US$10 million in the 2010 national budget, a sum which has fallen way short of the financial obligations of the lender of last resort.

 

Recently the bank’s property, which is government assets, was auctioned after being attached by several companies seeking payment from the central bank.

 

Other members of the board are Mr. Charles Kuwaza who has been appointed the deputy chairman, Dr Dumisani Ndlela, Dr Godfrey Kanyenze, Judge George Smith, Mr. Nyasha Zhou, Professor Primrose Kurasha, Mr. Willard Manungo and Professor Tony Hawkins.