Mushayavanhu told to shut up until he understands RBZ systems

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Veteran economic analyst Dr Gift Mugano has urged the Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu to stop speaking to the media until he understands how his office works.

Mugano’s advice comes after Mushayavanhu alleged that the government knew nothing about structured currency, until it was told by the World Bank.

According to critics, the central bank chief erred in making such utterances which they say erode confidence in the market.

“I suggest that the Governor urgently set up a robust public relations department and his office must stop direct engagement with the public until he has the requisite skills to do so.

“He must undertake training on public engagement. For starters, his predecessor @DrJPMangudya

can be a good tutor because

@DrJPMangudya aitibhilivhisa even though zvaizoramba hazvo,” says Mugano.

Posting on his X handle, Mugano said Mushayavanhu eroded the little confidence people have in Zimbabwe Gold (ZiG) currency.

“In this video, the governor

@ReserveBankZIM is making things difficult for the ZiG – he is killing the little confidence remaining. Thank you

@HStvZim & @OpenParlyZw for the job well done and @daddyhope for putting these videos together,” he added.

Commenting on the matter, renowned investigative journalist Hopewell Chin’ono said governors should only speak when it is necessary, otherwise should make use of their communications departments.

He writes:

This is the reason why central bank governors only speak when it is necessary and why they mostly rely on their communication teams.

Both videos below show a governor who desperately needs a communications manager with a well trained team.

The potential impact of a central bank governor’s words on people’s wealth and welfare requires them to speak tactfully.

It is important to be always cautious in their public communications.

Ineffective and contradictory communication will have negative consequences on the markets and how the central bank and its monetary policies are viewed and taken seriously or seen as a joke.