Good bye, says Gono

HARARE - Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono’s 10-year tenure at the helm of  the country’s apex bank comes to an end today.

Gono has since appointed one of his deputies,  Charity Dhliwayo to step in as acting governor until March next year.

In a farewell memo to the RBZ directors, deputy governors, management and staff, Gono said the law at this stage allowed him to only appoint an acting governor among the two deputy governors on a rotational basis.

“To this end, with effect from 1 December 2013 to 28 February, 2014, Dr Charity Dhliwayo will be acting governor and from 1 March, 2014 to 31 May, 2014, Dr K. Mlambo will act if a decision has not been made for a substantive governor by then,” Gono said in the statement.

“I request you all to give the two your maximum support.”

There was no immediate comment from government.

Gono, born in November 1959, was appointed to head the central bank in December 2003 and said he took the job because he relished the challenge. Gono was re-appointed as Central Bank governor for a second five-year term in November 2008, the term which expired today.

“It is exactly ten years or 120 months since I joined the RBZ family on a tour of duty as governor and while it seems like yesterday, in reality it isn’t,” Gono said. “Children who were born at the time I joined the Bank are now at mid-primary level in their schooling! That is how long my stay has been at the Bank and in terms of the law, it is time for me to pack my bags and move on other assignments.”

“There is not much to say about my tenure here at the Bank which you all do not know. The story is better told, and evaluation best made by each and everyone of you.”

Critics say Gono’s term as central bank governor spawned inflation topping 231 million percent.

But his backers say he saved Zimbabwe from total economic collapse through sanctions busting, morphing the central bank into a strong and independent institution. 

Gono said he succeeded in some areas of his assignments more than he did in others “but that is not for me to say.”

“All I can say for now is that I depart a very happy person in terms of discharging the mandate given to me by His Excellency the President, Cde R.G. Mugabe in November, 2003 and that of defending the country’s sovereignty and economic interests at Zimbabwe’s time of greatest need and when the economic attacks against the country were at their gravest,” Gono said.

“Some countries that have faced a quarter of the challenges and dangers we faced are on their knees with riots galore and unending changes in their government administrations and untold suffering worse than we experienced or are experiencing.

“I want to thank you all, individually and collectively, for all your love, loyalty, support and cooperation in the formulation of strategy and execution thereof over the years in discharging the above mandate even though some choose to forget what we all went through to remain standing.

“You all made my leadership role and task much easier than it would have been had you chosen to do otherwise. You all enriched my experiences and deepened my resolve and conviction in many spheres of  my life.”

Gono said he was human.

“Like any mortal being, I was not perfect,” he said.

“I was not and am not a Saint. I urge all of you to pick up the batons of excellence, determination, hard work and fortitude where I am leaving and to run with them for the betterment of our economy in particular and country in general until we meet again one day.

He said he was ending his 10-year tour of duty on his 54th birthday “and just as I was taken home immediately after birth, I am going home to my family and friends today after completing a successful tour of duty or could it be that I am joining the ‘jobless market?’ Only time will tell.”

A businessman of note, he did not state what he will be up to after the expiry of his term.

“In Catholic terms, my going represents ‘black smoke coming out from the 22nd and 23rd floors of the RBZ’ as when a Pope passes on or retires. When a new, substantive one is elected or appointed, the same chimneys emit ‘white smoke’ in celebration.

“Unfortunately, no white smoke yet! That is for His Excellency the President, on the advice of the minister, to ignite.”

Comments (15)

Chisingaperi chinoshura shuwa.Ndokuyenda kwavaGono uku. Fambai zvakanaka, vaGono. Mari makamboidya henyu naKereke wenyu.

Tishu Mazhelo Tajoka Zhachose - 30 November 2013

Time is a thief really,didnt realise how it has gone.Will remember him as a confident guy who stood in defence of his policies nomatter how flawed or good they were.He has german blood in him.Go political GONO.

wejena - 30 November 2013

Time is a thief really,didnt realise how it has gone.Will remember him as a confident guy who stood in defence of his policies nomatter how flawed or good they were.He has german blood in him.Go political GONO.

wejena - 30 November 2013

Thank you Honourable Governor Gono.You have proved wrong some of the book theories written by the so called genius of Finance and Economics. Your dedication seMwana Wevhu has been of great importance for the survival of the ship you were travelling in. The tides were not even for you to bring out your true expertise.However you managed to sail through despite all the hardship you encountered.Your history in the running of the Bank is not history to Zimbabwe but to the whole world.You have proved to the world that some of the written theories are in contradiction to the real practice on the ground.You have written your own book of Economics which I believe some people are already pursuing in their studies of Economics and Finance management. In your fare speech you said you were not a Saint, but I would like to say you have been, and your sainthood would only be realized after your departure.Thank you Governor.Your ideas and knowledge and wisdom shall always be cherished and utilized for the betterment of our nation.

Economics Pursuer - 30 November 2013

Hapana iyo imbavha ngaiiende yakatiurayira nyika . I only remember Gono for recruiting his homeboy Honorable Chinoz vemapere kuBuhera to be his advisor ndipo pakatangira kufa nyika ipapo enda hamba ungapenduki

MukarangawekuMberengwa - 30 November 2013

Well done Dr Gono. We will remember you for the useless bearer cheques and rubbish agro cheques.We will remember you for those zeros on your useless money.

jurist - 30 November 2013

the Dr wanted to re-write economics but failed printing baseless money will only generate inflation and that is what happened to Zimbabwe, it is what will happen to any country. the Dr should have told the people that appointed him that such policies will not work. they have stolen more than 15 years of development from Zimbabwe and people are still suffering from his prescription.

h1 - 30 November 2013

HUNOMBOVE HU DR MUHLOBOYIKO HUNOPONDA NYIKA? ZVINO IPAPA KANA YANGE IRIRI RELAY RACE TOTI WAPA ANI CHIMUTI NHAIWE CHIREMBA WEMADEGREE EKUPARADZA? FUNDO CHINHU CHAKANANAKA CHOSE INI NDINOIKUDZA,ASI, IKANGOVE MAPEPA HUROMBO/ KANA KUTI"DZIDZO YAKAWIRA PARUKANGARABWE" INI HANDIIRUMBIDZE? IMWI NEAKAKUSARUDZAI MAKADZIDZA CHIIKO CHINOITA KUTI VANHU TIBVUNZE KUTI'KUFUNDA KUNOBATSIREYI? IF EDUCATION DOES NOT TRANSFORM YOU THEN WE SAY ;"YOU ARE LEARNED , BUT NOT EDUCATED"=WITHER WE DR GONO ;"LEARNED OR EDUCATED?" YOU DID NOT SAVE ZIMBABWE FROM BEING A "SOMALIA"=YOU ACTUALLY ACCELERATED IT INTO A SOMALIA. EDUCATION FAILED TO TRANSFORM YOU GO GONO GO AWAY! I DO NOT WISH YOU WELL.

avenesu muza - 30 November 2013

i we gono! vana vaunotaura ndevani vaurikuti vava mid primary? Imbwa iri nani,. Ukatoti "Vana vakazvarwa pandakatanga basa 2003 vanorangirirwa sevana vakaona nhamo isina kumboonekwa pasi rose " zvirinani. There is no much to say? 10 years uchitambudza vanhu ndozvaungataura. Ndinopika nembuya mbiri dziripasi, mweya wako uchadya nhoko dzezvironda Nxa nxa nxa nxa nxa! Duzvi duzvi duzvi chairo ndiwe. Pfutseki hamba, kushata.

chipazhamongo - 1 December 2013

Usuntshontshe Kakwana....

Mfana Ka Sobhuku... - 2 December 2013

At least Manicaland is proving to be Province to reckon with. Kombo Moyana (Chipinge), dR Leanard Tsumba(Makoni), Dr G Gono( Buhera), Dr Khupukile Mlambo and Dr Charity DhlIwayo( All Chipinge) or whether Dr JP Mangudya ( Chimanimani) we are all proud of you at the highest office! Manicalnd woye!!!!

MNK - 2 December 2013

Go away Gono. You are a criminal who destroyed the country for personal benefit. Your stupid programs like BACCOSSI just helped you to loot national resources. How come that when the country's fortunes were plummeting that's when your personal wealth increased? As things stabilized, with the coming in of MDC your personal empire started crumbling. Isn't it ironic? Again, go away Gono and never open your greedy mouth in public again!

Boorangoma - 2 December 2013

Dr Gono go well you did your best under difficult times. God be with you

mhofu - 2 December 2013

am pround to hail from buhera you are the best brains in our land doctor

zarex - 2 December 2013

You did what you could under the circumstances and you have done the right thing to leave just as your time is up. So who is going to be the new RBZ Governor? Nigel Chanakira I guess?

Nyika Ndeyedu - 2 December 2013

Post a comment

Readers are kindly requested to refrain from using abusive, vulgar, racist, tribalistic, sexist, discriminatory and hurtful language when posting their comments on the Daily News website.
Those who transgress this civilised etiquette will be barred from contributing to our online discussions.
- Editor

Your email address will not be shared.