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Herald Reporter

President Mnangagwa has directed that a State-assisted funeral be accorded to Zimbabwe’s first black Governor of the Reserve Bank, Dr Kombo Moyana, who died on Monday.

He was 78.

Dr Moyana reportedly succumbed to Covid-19-related complications.

He succeeded Mr Desmond Krogh, who was Governor between 1979 and 1983.

Dr Moyana was the first black central bank chief between 1983 and 1993.

In a statement yesterday, Acting Chief Secretary to the President and Cabinet, Mr George Charamba, said: “His Excellency the President, Cde ED Mnangagwa, today (yesterday) directed that former Governor of the Reserve Bank of Zimbabwe, Dr Kombo Moyana, who passed on Monday, 18th January 2021, be granted a State-assisted                                                                                 funeral.”

Dr Moyana initially joined the Reserve Bank as deputy head of the institution in 1983 following his appointment by the then Prime Minister Robert Mugabe

He eventually headed the Reserve Bank for 10 years until retirement in 1993.

After some years outside public office, Dr Moyana was appointed as chair of the Sovereign Wealth Fund, whose board was set up with the drive to ensure the financing of the economic blueprint, Zim-Asset.

Former RBZ Governor Dr Gideon Gono described the death of Dr Moyana as a blow to the pool of indomitable expertise and experience.

Dr Gono said although each Governor faced a different set of challenges depending on the prevailing environment, Dr Moyana achieved several firsts in office and left a record of multiple achievements difficult to emulate.

“Let me focus on one aspect of his unparalleled achievements to illustrate my point in the very important area of resource mobilisation for the country,” he said.

“First notable is the fact that out of the seven IMF disbursements to Zimbabwe totalling US$522 million between 1980 to the last one received in 1999, four (57 percent) of those disbursements amounting to US$360 million (69 percent) occurred during his governorship.

“Of the 16 tranches of disbursements Zimbabwe received from the World Bank between 1980 to the last one in 2001 amounting to US$1,3 billion, 11 (69 percent) of those disbursements amounting to US$890 million (66 percent) were negotiated and received under his trust.

“Of the 13 times that the African Development Bank disbursed serious development funds to Zimbabwe between 1980 and 1998 amounting to US$600 million, 11 (85 percent) of the draw-downs amounting to US$590 million (98 percent) was negotiated by and disbursed into his stewardship.”

Dr Gono said Dr Moyana was an astute negotiator and a patriot who inspired a great deal of confidence in all those who interacted with him to this day.