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Zimbabwe Attacks Said to Be Organized in Defiance of Mnangagwa

HARARE (Capital Markets in Africa) – Zimbabwean President Emmerson Mnangagwa is being defied by members of his ruling party who are orchestrating a violent crackdown after demonstrations this month, government and military officials said. Door-to-door raids in urban townships by police and men in military uniform are continuing more than a week after a three-day strike was called following a more than doubling of fuel prices, the people said on the condition of anonymity. Abuses range from…

Desperation Erodes Fear: Protesters Brave Zimbabwe Crackdown

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – In four decades of independence, Zimbabwe’s rulers have been able to deploy the security forces to crush protests even as the southern African nation sank deeper into economic crisis. Judging from the latest bout of unrest, that may no longer be true. Crowds showed little fear as they poured onto the streets of the capital, Harare, and other major cities when the main labor federation called a three-day stay-away…

Zimbabwe’s Ncube Sees Fiscal Order Taming Inflation, Deficit

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – Zimbabwe’s government will ensure fiscal discipline to rein in an inflation rate that’s the highest in a decade and a yawning budget deficit, Finance Minister Mthuli Ncube said. Both the rate of price growth and the budget shortfall as a percentage of gross domestic product are expected to fall below 10 percent this year, Ncube said in an interview Tuesday at the World Economic Forum in Davos. Zimbabwe’s Treasury estimated the budget…

No Currency, Just a Currency Crisis: Zimbabwe’s Woes Deepen

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – Not having a currency of its own hasn’t stopped Zimbabwe from sliding into a currency crisis. A scarcity of foreign exchange has led to long queues for fuel, bread and medicine and sent prices surging. Protests erupted across the southern African country on Monday, leaving possibly five people dead, after the government more than doubled gasoline prices to $3.31 a liter ($12.58 a gallon) over the weekend, the highest in…

Zimbabwe: Life After President Robert Mugabe

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – In early November 2017, Robert Mugabe was removed from power in what was effectively a bloodless coup. My wife, children and I joined a million people on the streets of Harare in a celebration of pent up joy and elation, the likes of which I can only imagine were equalled by the fall of the Berlin Wall. People were laughing, dancing, running in circles, waving pictures of the army…

Bullet-Train Pledge, Splits Cost Zimbabwe Opposition in Vote

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – As Zimbabwean opposition leader Nelson Chamisa considers mounting a legal challenge to last week’s election results, he’s also counting the cost of fissures within his alliance and campaign pledges that made him appear out of touch with voters. Emmerson Mnangagwa’s victory in the parliamentary and presidential ballots has left Chamisa’s Movement for Democratic Change without enough seats to prevent the ruling Zimbabwe African National Front-Patriotic Front from changing the constitution. It’s…

Mnangagwa Wins Zimbabwe’s Presidency After Deadly Protests

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – Emmerson Mnangagwa won Zimbabwe’s presidential election, a victory overshadowed by deadly protests, opposition allegations of rigging and criticism by observers that the contest was flawed. The controversy surrounding the vote may undermine efforts to reunify the southern African nation and rebuild an economy battered by almost two decades of misrule under Robert Mugabe, who was forced to quit in November. The country also risks a repeat of unrest that claimed six…

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