HOTTER ON METALS: Zimbabwe’s political turmoil

After 37 years in power, Robert Mugabe has been sacked as the leader of Zimbabwe’s ruling party and is under intense pressure to step down as the country’s president. What might this mean for investment in the mineral rich nation?

How it happened It all began earlier this month, when Emmerson Mnangagwa was fired by Mugabe as the country’s vice president for "disloyalty, disrespect, deceitfulness and unreliability.” The move stunned many - Mnangagwa was a member of Mugabe’s inner circle and a veteran in the country’s struggle for independence. But it appeared his ambitions to replace Mugabe had put him in direct conflict with first lady Grace Mugabe, her husband’s chosen successor as president. After warnings by the military to stop purges within ruling party Zanu-PF, it seized all key positions before putting Mugabe under house arrest. The intervention of the military is being widely viewed as an effort to prevent Grace Mugabe from succeeding her husband. After unprecedented protests in the streets over the weekend and continued pressure on Mugabe to step down, Grace Mugabe has now been expelled from Zanu-PF, along with several other senior officials. The entire...


Andrea Hotter

November 20, 2017

02:08 GMT

New York