FBC boss Mushayavanhu tipped to take over from Mangudya

Harare- GROUP chief executive and executive director of FBC Holdings John Mushayavanhu is tipped to take over the stewardship of the apex bank after the expiry of John Mangudya’s term of office in May 2024,Express Mail Zim has learnt.

Impeccable sources told Express Mail Zim that the former Bankers Association of Zimbabwe (BAZ) president stand the highest chances of becoming the fifth black central bank governor after the late Kombo Moyana,Leonard Tsumba, Gideon Gono and John Mangudya.

Mushayavanhu is respectable banker and graduate of Brunel University where he acquired a Masters in Business Administration.

” As you know that is a presidential appointment and President Mnangagwa is unpredictable but Mushayavanhu’s decorated track record and trust he has from the President makes him a top runner for the post,” said our source.

Mushayavanhu played a pivotal role in the setting up of FBC DRC branch at the height of the war where Webster Rusere was in charge of banking operations.

The overall manager of the holding company was the late Sibusiso Moyo- the face of the 2017 military intervention that gave birth to the Second Republic under the able leadership of Mnangagwa.

Despite of his amicable career record, Mushavanhu is alleged to have been one of the architect behind the fall out of Mnangagwa and South African based businessman Justice Maphosa who gave the President two week long refugee at his house in South Africa , before he took over the levers of power as he had promised in his strategic move.

“What happened is Maphosa roped in Mushayavanhu as a technical partner in his deal to set up a financial system that works like Zipit.
“It was a brilliant concept and RBZ advised Maphosa to rope in any existing reputable financial institution as technical partner hence he approached FBC but the project suffers a still birth, ” revealed our source.

The Gwanda bred businessman with interest in finance and aviation backed off and remains bitter, according to sources.

Relentless efforts to get Mushayavanhu hit a snag since last week.

Several bankers have been touted for the post with one Nyasha Makuvise flagged for failing a morality test after he allegedly ‘eloped’ to a younger concubine and lied through his teeth to his family that he had relocated.