BR100 Increased By (1.66%)
BR30 Increased By (1.87%)
KSE100 Increased By (1.81%)
KSE30 Increased By (1.85%)
BECO 5.72 Increased By ▲ 0.01 (0.18%)
BML 59.50 Decreased By ▼ -0.17 (-0.28%)
BOP 36.47 Increased By ▲ 0.74 (2.07%)
CNERGY 8.40 Increased By ▲ 0.12 (1.45%)
DCL 11.95 Decreased By ▼ -0.18 (-1.48%)
FCCL 57.65 Increased By ▲ 0.26 (0.45%)
FCSC 5.47 Decreased By ▼ -0.05 (-0.91%)
FFL 18.15 Increased By ▲ 0.12 (0.67%)
FNEL 1.35 No Change ▼ 0.00 (0%)
HUMNL 11.80 Increased By ▲ 0.14 (1.2%)
KEL 8.21 Increased By ▲ 0.14 (1.73%)
KOSM 6.19 Decreased By ▼ -0.07 (-1.12%)
MLCF 98.35 Increased By ▲ 0.22 (0.22%)
NBP 206.75 Increased By ▲ 8.42 (4.25%)
PACE 11.88 Increased By ▲ 0.11 (0.93%)
PAEL 43.98 Increased By ▲ 0.89 (2.07%)
PIAHCLA 27.99 Increased By ▲ 0.64 (2.34%)
PIBTL 18.16 Increased By ▲ 0.20 (1.11%)
PPL 238.75 Increased By ▲ 5.97 (2.56%)
PRL 36.32 Increased By ▲ 0.63 (1.77%)
PTC 68.19 Increased By ▲ 0.61 (0.9%)
SEARL 97.16 Increased By ▲ 2.88 (3.05%)
SSGC 30.43 Increased By ▲ 2.77 (10.01%)
TELE 9.38 Increased By ▲ 0.19 (2.07%)
THCCL 70.19 Decreased By ▼ -0.40 (-0.57%)
TPLP 11.82 Increased By ▲ 0.45 (3.96%)
TREET 25.49 Increased By ▲ 0.07 (0.28%)
TRG 69.45 Increased By ▲ 0.60 (0.87%)
WAVES 11.42 Increased By ▲ 0.17 (1.51%)
WTL 1.29 No Change ▼ 0.00 (0%)

President Robert Mugabe is insisting he remains Zimbabwe's only legitimate ruler and is refusing to quit after a military coup, but pressure is mounting on the 93-year-old former guerrilla to accept offers of a graceful exit, sources said on Thursday. A political source who spoke to senior allies holed up with Mugabe and his wife, Grace, in his lavish "Blue Roof" Harare compound said Mugabe had no plans to resign voluntarily ahead of elections scheduled for next year.
"It's a sort of stand-off, a stalemate," the source said. "They are insisting the president must finish his term." The army's takeover signalled the collapse in less than 36 hours of the security, intelligence and patronage networks that sustained Mugabe through 37 years in power and built him into the "Grand Old Man" of African politics.
A priest mediating between Mugabe and the generals, who seized power on Wednesday in what they called a targeted operation against "criminals" in Mugabe's entourage, has made little headway, a senior political source told Reuters. Opposition leader Morgan Tsvangirai called for Mugabe's departure "in the interest of the people". In a statement read to reporters, Tsvangirai pointedly referred to him as "Mr Robert Mugabe", not President.
The army appears to want Mugabe, who has ruled Zimbabwe since independence in 1980, to go quietly and allow a smooth and bloodless transition to Emmerson Mnangagwa, the vice president Mugabe sacked last week triggering the political crisis. The main goal of the generals is to prevent Mugabe from handing power to his wife Grace, 41 years his junior, who has built a following among the ruling party's youth wing and appeared on the cusp of power after Mnangagwa was pushed out.
The last of Africa's state founders from the heyday of the struggle against European colonisation still in power, Mugabe is still seen by many Africans as a liberation hero. But he is reviled in the West as a despot whose disastrous handling of the economy and willingness to resort to violence to maintain power pauperised one of Africa's most promising states.
Once a regional bread-basket, Zimbabwe saw its economy collapse in the wake of the seizure of white-owned farms in the early 2000s, followed by runaway money-printing that catapaulted inflation to 500 billion percent in 2008. Millions, from highly skilled bankers to semi-literate farmers, emigrated, mostly to neighbouring South Africa, where an estimated 3 million still live.
After a brief revival under a 2009-13 power-sharing government, when Mugabe was forced to work with the opposition, the economy has once again cratered, with dollars scarce, inflation surging, imports running out and queues outside banks.

Comments

Comments are closed for this article.