Zimbabwe | - Part 5

Zimbabwe’s Mugabe Said to Risk Impeachment If He Won’t Quit

HARARE (Capital Markets in Africa) – Zimbabwean President Robert Mugabe could be impeached if he refuses to bow to pressure to resign, according to four officials close to mediation efforts aimed at ending a political standoff in the southern African nation. The military placed the 93-year-old Mugabe under house arrest early Wednesday and detained top officials who’d backed his wife, Grace, to succeed him. Mugabe has been made aware he could be impeached but he initially dismissed the…

Bitcoin Emerges as Crisis Currency in Hotspots Such as Zimbabwe

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – About a third of the customers queuing at La Maison du Bitcoin’s teller windows in Paris aren’t speculating on the value of the cryptocurrency. They’re sending digital money home to Africa. “In many countries in Africa, there are far more cellphones than bank accounts,” said Manuel Valente, co-founder of La Maison. “For bitcoin, all you need is a phone.” Zimbabwe, where the price of bitcoin spiked to double the…

Mugabe Refusal to Quit Is Said to Stall Zimbabwe Transition

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – Zimbabwe President Robert Mugabe’s refusal to publicly resign is stalling plans by the military to swiftly install a transitional government after seizing power on Wednesday, two people familiar with the situation said. The military wants Mugabe, who’s under house arrest, to agree to step aside so it can claim its action isn’t a coup and head off tension with the Southern African Development Community, which includes Zimbabwe and South Africa,…

Zimbabwe Power Brokers: Key Figures in Battle to Succeed Mugabe

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – The military takeover of Zimbabwe on Wednesday marked the climax of a week of confrontation between the military and President Robert Mugabe, the nonagenarian leader who’s led the southern African nation for almost four decades. Four key figures within Zimbabwe’s ruling party will determine how the battle to succeed him plays out: Emmerson Mnangagwa, 75, has been a close ally of Mugabe’s since 1974 when the two were leading members…

Mugabe’s Era Is Ending as Zimbabwean Military Seizes Power

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – Zimbabwe’s military seized power and detained 93-year-old President Robert Mugabe in a struggle over the succession of the only leader the nation has ever known. Mugabe told President Jacob Zuma by phone that he’s being confined to his home and is fine, the South African presidency said in a statement. Zimbabwe Defense Forces spokesman Major-General Sibusiso Moyo said in a televised address that the military action wasn’t a coup and was aimed at…

Mugabe Fires Deputy After Wife Says She Can Lead Zimbabwe

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – Zimbabwean President Robert Mugabe dismissed Emmerson Mnangagwa as his deputy, a day after first lady Grace Mugabe accused him of planning a coup and said she’s prepared to succeed her husband as leader of the southern African nation. Mngangagwa, 75, was fired for “among other things, disloyalty,” Information Minister Simon Khaya Moyo told reporters Monday at Mugabe’s office in the capital, Harare. The announcement followed the president’s comments at a rally on Saturday in the southern African…

Zimbabwe Ruling Party Moves to Include a Woman in Top Body

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – Zimbabwe’s ruling party will probably amend its constitution to ensure that a woman is appointed to its top body, which currently has three men, according to a draft document sent to senior members of the party by its secretary for administration, Ignatius Chombo. The move may pave the way for President Robert Mugabe’s wife Grace to join the Presidium at a party congress in December, according to University of Zimbabwe professor Eldred…

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