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UZ Student Leaders Give Mnangagwa Five-Day Ultimatum To Reverse Mushayavanhu's Appointment As RBZ Governor

11 months agoSat, 06 Apr 2024 06:34:39 GMT
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UZ Student Leaders Give Mnangagwa Five-Day Ultimatum To Reverse Mushayavanhu's Appointment As RBZ Governor

Nesbert Munyuki and Valentine Ziko, co-leaders of the Zimbabwe National Students Union (ZINASU), insist that President Emmerson Mnangagwa revoke the appointment of top banker John Mushayavanhu as the new Reserve Bank of Zimbabwe (RBZ) governor, citing its illegality.

As reported by ZimLive, Mushayavanhu, a business associate of Mnangagwa, became the central bank boss on May 1, 2024, replacing John Mangudya whose term was about to lapse.

In a letter addressed to President Mnangagwa and dated April 2, 2024, Munyuki and Ziko said Mushayavanhu is a shareholder of FBC Holdings Limited which wholly owns FBC Bank.

The two University of Zimbabwe students cited section 16 of the RBZ Act which disqualifies shareholders of any local banking institutions from appointment as governor of the apex bank. Through their lawyers Kossam Ncube and Partners, they wrote:

We confirm that following mandatory disclosure by Dr Mushayavanhu himself, the Zimbabwe Stock Exchange, issued a public notice dated the 8th of June 2020 advising the public of his acquisition of shares in FBC Holdings.

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The aforesaid notice advised the public that through a company called Tirent Investments (Pvt) Limited, on the 4th of June 2020, he purchased 1,925,000 shares in FBC Holdings to the value of ZW$4,427,500 raising his shares in the company to 42,325,00.

Yet again, on the 14th September 2020, the Stock Exchange pursuant to disclosure from him, issued another notice advising the public that on the 9th September 2020 through Tirent Investments, he made an additional purchase of 512,200 shares for the sum of ZW$5,112,000,00 increasing his total number of shares in FBC Holdings to 43,768,149.

The two student leaders argued that following yet another mandatory disclosure from him, the Zimbabwe Stock Exchange issued a public notice on the 24th of June 2021, advising the public of another purchase of shares in FBC Holdings on his part. They said:

The public notice advised that on the 22nd of June 2021, through Tirent Investments (Pvt) Ltd, he purchased 207,000 additional shares in FBC Holdings to the value of ZW$6,104,354,65 taking his total number of shares post the transaction to 43,768,149.

Furthermore, public information available at the Zimbabwe Stock Exchange confirms that indeed, Tirent Investments, the vehicle through which he has been purchasing shares in FBC Holdings, holds about 7% shareholding in the listed company.

The student leaders asserted that FBC Holdings Limited wholly owns FBC Bank. They highlighted that Mushayavanhu, through his investment vehicle Tirent Investments, is a shareholder in a company that wholly owns a registered and trading banking institution.

The two students insisted that Mnangagwa reverse Mushayavanhu’s appointment within five days, or else they would initiate legal proceedings.

More: Pindula News

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48 Comments

. · 11 months ago
1usd:40 000zwl plus nostro accounts
Fugu chibabe pfee · 11 months ago
Can someone tell me what John Panonetsa Mangudya achieved during his 10 yrs as Governor of the Reserve bank.
Fugu feeee · 11 months ago
Everyone must fulfill the role they were recruited for.Reserve bank must stop playing with people's minds.It is the centre for corruption/deals especially gold smuggling and currencu manipulation via printing money.Corruption is making everyone suffer.
Anonymous · 11 months ago
Dai mamboita zvechikoro vakomana musiyane nezvematongerwo enyika .
Mbunemuseve · 11 months ago
Isu vanaChaipwete tosura zvikanyadzisa.Tonzi vanachatipwi
Anonymous · 11 months ago
Good we have observant brethren. Am pleased. There's indeed a fear for life, but the shortcut was too much the law has to correct that.
Anonymous · 11 months ago
Zanupf supporters are brainwashed this is just a law. This guy is in his 80s hence he doesn't have advisors. If opposition blunders from Jonathan moyo George will comment now your own leader is at fault. Don't threaten students
Tadiwanashe · 11 months ago
Mmmmh vafana ngavatambe vachiziwa pekugumira
Peter Bvirakare · 11 months ago
Kana.mashaya zvokutaura nyararai .gentleman Concentrate on the merits and.de merits of the monetary statement not on an individual who is just.as good as.you are. Mushayavanhu is.a civil servant let's give him time to prove his capabilities
wezhira · 11 months ago
well said
Peter Bvirakare · 11 months ago
kana mashsya zvokutaura nyararai vakomana.Mush
· 11 months ago
vakomana havana chavakatadza,vari kutaura nyaya semamiriro ayakaita.ende inyaya yechokwadi kwete kuti makuhwa kana kuti vakaudzwa nema western countries.izvi zvava kune akanyorerwa rugwaro kuti achaita sei nazvo,uye kune akagadzwa wacho kuti achaitawo sei
doug · 11 months ago
Games
Fake Lawyer · 11 months ago
Nhai chi**** chezanu na shadows hamunyari kupembedza hudzvanyiriri. Zvinhu zvinoroverwa vanhu here izvozvo. Kana mopuwa ma sanction mo blema opposition.Ku South Africa ma president anongomiswa mumatare wani. ED akambopuwa mamwe ma ultimatum akato reversa appointment yaValerio wani, kungoti he never learns. A full lawyer ane ma secretary nema advisor anoita seasina kumboenda kuchikoro. I don't see the captured judiciary managing to save him on this clear cut case.
shadows · 11 months ago
vafana avo vaifanira kungoonesawo mukuru wenyika kwete kutoti pwetere pwetere takupai altimatum ye 5 days. it's water under the bridge. bhora mberi mushayavanhu tivake nyika.
state number · 11 months ago
where can i find them
Anonymous · 11 months ago
In whatever way, this issue is a closed chapter. I personally support Dr J.Mushayavanhu as RBZ Governor. That guy given the authority is ruthless and no nonsense person. Even politicians in Zanu Pf are gonna gate him coz he doesn't tolerate favoritism. I once worked for FBC Bank and i know him well
Unknown · 11 months ago
Ehe tazvinzwa mundebele Asi it's either he drops his shares in Fbc or the governor post coz mutemo haubvimire
Pole · 11 months ago
Well politics have a, way to change people. Mthuli was also to be said to be principled and objective but somehow politics made him a toothless dog
Anonymous · 11 months ago
Kkkk the boys are right this is the only age that can do what they are doing, youth has the benefit of being youth not being wrong, do it, experience how to challenge status quo ndiyo nguva yacho vafana
Zozo · 11 months ago
Zvaendwa. Kunoshanda mutemo not murwira njodzi kutora muswe wedzvinyu kuuita valve ye bhasikoro
luvmo · 11 months ago
laws must be followed
shadows · 11 months ago
vafana vaguta nyemba avo. governor akatotanga bsa Kare Ivo vowukura nekuwawata madhot. kna vachida politics ngavaite bato ravo. musarwadziwe, nyika yavekuvakwa nevene vayo.
1
· 11 months ago
Ndepapi pawanzwa pachitaurwa politics . Pfungwa ngadzishande idzo pane zvataurwa pane pawawona pachitaurwa politics
1
Unknown · 11 months ago
@Shadows haisi mhosva yako ndinokunzwisisa mumwe wangu, ndine hurombo ne kusaenda kuchikoro kwavakaita. Vanhu vanogona kukus****podza Asi haisi mhosva wo yako kuti baba vaipedzera mari kumahurě vasina kubhadhara fees yako. I'm sure oazvakadzidzwa zve stock exchange, law nezve buying and selling of shares wanga wadzingirwa school fees. ndine hurombo bhururu wangu, chishinga kudzidzisawo vako vana vasazozvinyadzise paruzhinji sewe soo
@ unknown · 11 months ago
That's deep ey😂😂😂
Aj · 11 months ago
@unknown tamba nevamwe zvakanaka
shadows · 11 months ago
kkkk nhaiwe @unknown law, buying and selling zvapinda papi. ndiwe usina kudzidza iwe. ndati vafana avo ngavakwane. varikupa ani 5 Dayz . imbwa chero ikahukura zuva hariregi kubuda. just wasting their tym. kuda kutsvaga mbiri chete.
Anonymous · 11 months ago
Ndevedu regai vaite basa
113010 · 11 months ago
Mazimba takaenda kuchikoro manje
Sorojena · 11 months ago
Why zvinu zwese zvaED zviri zve shortcut, hupresident akaita zve short cut, currency ishortcut.🙄🙄🙄
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Ma studenta epa UZ pane gore riya ravaida ku marcher vachienda ku state house vakazonzi vazvove nematumbu vachien**** shamhu ichitamba panyama nhete. 😂 😂 😂 😂 Vanozviziva vazhinji vacho vakachera chikomba. Havana nharo ne Zanu Pf. Vamwe vacho vatokura vana @Lison Ncube in Byo vakuita zvema law firm avo vakanyarara.... Ohh i had forgotten professor Tsanangurai Makuyana pa long list..... Muno unorohwa ukabuditsa rectum yese panze.... Garai mazviziva
baba jukwa · 11 months ago
uriku zvitaurira wega kuti zanu inoponda vanhu neku mbunyikidza vanhu
Vice Chancellor · 11 months ago
Kudhara ikoko vafanha vangu, itai zvenyu zvana ahoi UBA kuSRC ikoko
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Ngavazive zvechi UBA nechi USA. Apa pamakata pavanoda kutambira. Vanofira mahara
sad emoji1
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Ava vana vasina kana hunhu vanoda shamhu ine munyu. Kuda kupa president instruction vakamira saniko🤣🤣🤣🤣🤣🤣🤣
Zinasu · 11 months ago
chibany chezanu yuacknowldge kuti zanu ndeye mhondi zvakanaka wani
popi · 11 months ago
respect the constitution
1
Lacto · 11 months ago
Imwi nhayi vanhu imwi mukunyatsoputey mazwano 5 day ultimatum Kuna ED, that boy is the law,the gun,and everything It's like giving a dhodhî 2 day ultimatum rekuti risanhuwe zvachose 😂😂😂
laugh emoji1
Ronald Madamombe · 11 months ago
Kkkkkkkkk
me · 11 months ago
twagutisa twana utwu

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