Published: 27 November 2013

Reserve Bank of Zimbabwe governor Gideon Gono's tenure at the helm of the institution ends this week amid speculation that it won't be extended.

Gono's second and final term at 80 Samora Machel Avenue expires on Saturday after 10 years at the helm. Constitutionally, Dr Gono cannot exceed two terms the Reserve Bank of Zimbabwe Act can be made amended to provide for the extension of the governor's tenure beyond the two terms.

With President Mugabe's history on succession, it appears Gono will hang onto his job for now.

Dr Gono was first appointed as the central bank governor in November 2003 and was re-appointed in November 2008 for another five-year term.

Gono leaves the central bank in a precarious position as it is not performing its lender of last resort function after it failed in the past five years to raise the required amount.

While no comment could be obtained from Finance Minister Patrick Chinamasa, sources said there was a feeling Dr Gono's term could be extended to give Government enough time to search for a new governor.
- newsday

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