Zimbabwe equities dropped $6 billion in 8 days as the market engaged in a drastic self-correction following a change of guard in the country’s political leadership which saw Emmerson Mnangagwa installed as president on Friday.
The situation in Zimbabwe is back to normal according to the Zimbabwe Defence Forces so the Zimbabwe Republic Police is now assuming its role but there will be joint patrols by the ZDF and the police, the two said in a joint statement this morning.
President Emmerson Mnangagwa has made his first move to demonstrate that he is serious about cost cutting by slashing the budget for the Zimbabwe African National Union-Patriotic Front special congress due next month.
President Emmerson Mnangagwa is likely to seek advice from former president Robert Mugabe, Roman Catholic Church priest Father Fidelis Mukonori, who acted as a mediator between Mugabe and the military paving the way for Mugabe to resign, told the British Broadcasting Corporation.
Former President Robert Mugabe is now looking forward to a new life of farming and staying at his rural home, his nephew Leo Mugabe said today.
Zimbabwe’s new president Emmerson Mnangagwa is the richest man in Zimbabwe according to former Finance Minister Tendai Biti.
Former First Lady Grace Mugabe who is now being blamed for the downfall of her husband Robert Mugabe who was forced to step down last week after 37 years in power could have done well if she had followed her first passion.