<p>By Justina Crabtree</p>
<p>Source: <a href="https://www.cnbc.com/2018/05/03/zimbabwe-opposition-leader-wants-to-give-china-investors-the-boot.html?__source=Facebook">Zimbabwe opposition leader reportedly wants to give Chinese investors the boot</a></p>
<div class="group-container ">
<div class="group">
<p>Chinese investors are &#8220;busy asset-stripping&#8221; Zimbabwe&#8217;s resources, the country&#8217;s main opposition leader said in a speech this week, according to reports.</p>
<p>&#8220;I have seen the deals that (Zimbabwean President Emmerson Mnangagwa) has entered into with China and others, they are busy asset-stripping the resources of the country,&#8221; Nelson Chamisa said at a May Day rally on Tuesday, as reported by the <a class="inline_asset" title="http://www.bbc.co.uk/news/world-africa-43973908" href="http://www.bbc.co.uk/news/world-africa-43973908">BBC</a> and <a class="inline_asset" title="https://www.herald.co.zw/ill-boot-out-chinese-chamisa/" href="https://www.herald.co.zw/ill-boot-out-chinese-chamisa/">local press</a>.</p>
<p>Chamisa is leader of Zimbabwe&#8217;s main opposition party, the Movement for Democratic Change (MDC).</p>
<div id="inline_movable_ad"></div>
<p>&#8220;I have said (that) beginning September when I assume office I will call the Chinese and tell them the deals they signed are unacceptable and they should return to their country,&#8221; he added.</p>
<p>CNBC was not able to independently translate Chamisa&#8217;s speech.</p>
<p>On Wednesday, the MDC published a <a class="inline_asset" title="http://www.mdc.co.zw/index.php/meda/news/373-correction-of-the-herald-story" href="http://www.mdc.co.zw/index.php/meda/news/373-correction-of-the-herald-story">statement</a> on its website addressed to Zimbabwean state-owned newspaper The Herald. The statement accused the newspaper of publishing &#8220;malicious falsehoods&#8221; about Chamisa, although it did not specify what these were.</p>
<p>The &#8220;gist and essence&#8221; of Chamisa&#8217;s May Day speech was that his party &#8220;will not allow the mortgaging of this country for political expedience,&#8221; it said, attributed to Luke Tamborinyoka, presidential spokesperson and director of communications.</p>
<p>An MDC government &#8220;will audit all business deals and those that fail the national interest will be reviewed,&#8221; it said.</p>
</div>
</div>
<div class="group-container last">
<div class="embed-container image">
<p><a class="enlargeThisImage" href="https://www.cnbc.com/2018/05/03/zimbabwe-opposition-leader-wants-to-give-china-investors-the-boot.html?__source=Facebook#"><img loading="lazy" decoding="async" src="https://fm.cnbc.com/applications/cnbc.com/resources/img/editorial/2018/04/03/105105656-GettyImages-941323932.530x298.jpg?v=1522762992" alt="Zimbabwe's President Emmerson Mnangagwa (L) shakes hands with Chinese President Xi Jinping at the Great Hall of the People in Beijing, China, on April 3, 2018." width="530" height="298" data-enlarged-image="https://fm.cnbc.com/applications/cnbc.com/resources/img/editorial/2018/04/03/105105656-GettyImages-941323932.1910x1000.jpg?v=1522762992" /></a></p>
<div class="caption">Zimbabwe&#8217;s President Emmerson Mnangagwa (L) shakes hands with Chinese President Xi Jinping at the Great Hall of the People in Beijing, China, on April 3, 2018.</div>
</div>
<div class="group">
<p>&#8220;Chamisa&#8217;s comments will play well with the MDC&#8217;s political base, who see Chinese loans as being fundamental for helping keep the former Mugabe regime afloat,&#8221; William Attwell, practice leader for Sub-Saharan Africa at emerging markets advisory firm Frontier Strategy Group, told CNBC on Thursday. &#8220;His comments seek to tap into growing frustration in Zimbabwe that Chinese investment has brought very little in terms of material benefits for locals.&#8221;</p>
<p>Mnangagwa&#8217;s nascent presidency has been characterized by his intention to revive the country&#8217;s economic fortunes through building bridges with both the East and the West. He initially came to power after former leader <a href="https://www.cnbc.com/id/105070327">Robert Mugabe</a>, under whom Mnangagwa served as vice president, was ousted in a military coup in November.</p>
<p>Mnangagwa&#8217;s first visit outside the African continent was to China last month, with attracting foreign investment high on the agenda. China has described itself as an &#8220;<a class="inline_asset" title="http://www.xinhuanet.com/english/2017-04/18/c_136217738.htm" href="http://www.xinhuanet.com/english/2017-04/18/c_136217738.htm">all-weather friend</a>&#8221; of Zimbabwe.</p>
<p>Zanu-PF, the party of Mnangagwa and Mugabe, is to release its election manifesto on Friday.</p>
<p>Mnangagwa has pledged &#8220;free and fair&#8221; elections to be held in July of this year, and has said that he will invite international observers.</p>
<p>Attwell said that it was unlikely that Chamisa would be able to deliver on his pledge, should he win the upcoming vote.</p>
<p>&#8220;The raw fact is the Zimbabwe needs Chinese investment,&#8221; he said. &#8220;Whoever wins the July election is going to need as much funding as possible — from China and the West — to rebuild the country&#8217;s decaying infrastructure.&#8221;</p>
</div>
</div>


Why Zimbabwe’s opposition leader reportedly wants to give Chinese investors the boot

<p>By <em>Jacques Nel, Chief Economist: Southern and East Africa, NKC African Economics </em></p>
<p>The International Monetary Fund (IMF) released its World Economic Outlook (WEO) report for April 2018. Entitled “Cyclical Upswing, Structural Change”, the largely positive report notes that global economic growth has not been this strong and broad-based since the sharp 2010 bounce-back following the 2008-09 financial crisis.</p>
<p>Global real GDP growth is projected to reach 3.9% this year, which is slightly higher than the October projection of 3.7%. The Fund’s growth forecast for sub-Saharan Africa (SSA) remains at 3.4% for this year. This reflects a notable improvement from the 2.8% growth estimate for 2017. The Middle East and North Africa (Mena) region is also projected to grow by 3.4% this year, which is markedly higher than the 2017 growth estimate of 2.6% and slightly stronger than the October projection of 3.2% for 2018.</p>
<p>The latest update includes some notable revisions to individual country growth projections for this year.</p>
<p>Algeria saw the largest upward revision to its 2018 growth forecast from a projection of 0.7% made in October to the latest figure of 3.0%. The oil exporter continues to struggle to adapt to structurally lower energy prices, but higher oil- and gas-related fiscal revenue is expected to support the government’s planned increase in capital spending this year.</p>
<p>Zimbabwe is another country that saw a sizeable upward adjustment in its 2018 growth forecast (from 0.8% made in October to the current figure of 2.4%), with the IMF evidently giving newly installed President Emmerson Mnangagwa the benefit of the doubt over whether his promising rhetoric will be converted into action.</p>
<p>Furthermore, most of the continent’s economic giants also saw upward revisions to their 2018 growth projections, including Nigeria (due to an improved outlook for oil revenue and the introduction of forex measure to ease liquidity constraints), Angola (due to stronger oil prices), Egypt (due to stronger domestic demand and the effects of structural reforms), and South Africa (due to ‘Ramaphoria’).</p>
<p>At the other end of the spectrum, some countries saw notable reductions in their 2018 growth projections.</p>
<p>Libya saw the largest downward revision, from an October projection of 31.2% to the latest figure of 16.4%. The IMF made significant downward revisions to its historical estimates for Libya’s GDP in 2015 and 2016 while increasing the estimate for real GDP in 2017. This led to an estimate of 71% real GDP growth for 2017 compared to the 55% growth forecast made in October. These wild revisions in estimates speak to the difficulties involved given the scarcity of solid economic data for the country and its total dependence on oil exports.</p>
<p>A notable downward revision in Ghana’s 2018 growth projection saw the West African nation conceding the title of the fastest-growing SSA economy to its East African counterpart Ethiopia – these were also the two fastest growing economies in the region in 2017, according to IMF estimates. A slowdown in industrial output due to maintenance work at the Jubilee oil field coupled with indications of a smaller cocoa crop this season have resulted in a 2.6 percentage point reduction in the country’s 2018 growth forecast, now set at 6.3%.</p>
<p>Mozambique saw its growth projection drop from 5.3% in October to the latest figure of just under 3%. The country continues to struggle with elevated real interest rates, while the decision by creditors to reject all the government’s debt restructuring proposals in March has sustained a smog of uncertainty over the country’s economic future.</p>
<p>Sierra Leone, Lesotho and Namibia all saw notable downward revisions in their 2018 growth forecasts.</p>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-304778" src="http://cnbc.africa/wp-content/uploads/2018/04/Africa-IMF.png" alt="" width="416" height="227" /></p>
<p>Stronger growth in Africa’s largest economies bodes well for the continent’s economic prospects as a whole.</p>
<p>South Africa, Nigeria and Egypt are regional growth drivers for Southern, West, and North Africa, respectively, and the health of these larger economies has direct bearing on growth prospects in their smaller neighbours.</p>
<p>It should be noted that the improvement in growth prospects for Nigeria and Angola is largely due to stronger oil prices, while South Africa’s expected recovery is still largely based on sentiment.</p>
<p>Nigeria still has much to do to diversify its economy away from its oil sector to improve economic resilience. In turn, South Africa’s political landscape has undoubtedly seen some improvement of late, but this positive sentiment still has to translate into actual progress on the economic front.</p>
<p>&nbsp;</p>


The IMF has altered its outlook on Africa, this is what’s changed

<p>HARARE (Reuters) &#8211; Zimbabwe will invite Western powers to monitor its national elections for the first time in more than 15 years, official papers showed on Tuesday, ending a ban imposed by veteran former leader Robert Mugabe.</p>
<p>The vote, scheduled for July, is seen is a major test for President Emmerson Mnangagwa’s democratic credentials since he came to power in November after a de facto army coup ousted 94-year-old Mugabe.</p>
<p>Zimbabwe will invite the United States, the European Union’s Commission and parliament, Australia and the Commonwealth among 46 countries and 15 organisations, a list released by the foreign affairs ministry showed.</p>
<p>The countries and groups on the list were all previously banned from watching elections in 2002 after Mugabe accused them of favouring his opponents.</p>
<p>The West slapped sanctions on Mugabe and members of his inner circle, accusing them of rigging a series of votes &#8211; charges they denied.</p>
<p>Joey Bimha, permanent secretary at the foreign ministry, said the invitations would be sent out soon but declined to give more details.</p>
<p>The election will pit Mnangagwa against a clutch of opponents including 40-year-old Nelson Chamisa from the main opposition Movement for Democratic Change. It will be the first time that Mugabe has not been on the ballot since independence from Britain in 1980.</p>
<div class="container_28wm1">
<div class="attribution_o4ojT">
<p class="content_27_rw">Reporting by MacDonald Dzirutwe; Editing by James Macharia and Andrew Heavens</p>
</div>
</div>


Zimbabwe invites Western powers to observe elections

<p>BEIJING (Reuters) &#8211; Chinese President Xi Jinping on Tuesday told President Emmerson Mnangagwa of Zimbabwe that they should work towards a new chapter in ties, during the African leader’s first state visit to China since he seized power last year.</p>
<p>Mnangagwa, who was sworn in as president in November after a de facto military coup ended Robert Mugabe’s 37-year rule, has vowed to rebuild his country’s ravaged economy and re-engage with the international community.</p>
<p>China had considered Mugabe a “good friend” in a relationship dating back to its support for Zimbabwe’s independence war, but pointedly failed to support him when he was ousted.</p>
<p>“I’m willing to work with Mr President to jointly map out our future cooperation and write a new chapter in China-Zimbabwe relations for the benefit of our two peoples,” Xi said, during a meeting in Beijing.</p>
<p>China has growing interest in investing in Africa’s natural resources and has poured more than $100 billion into roads, railways, mines, powerlines and factories on the continent over the last decade.</p>
<p>Trade between China and African countries reached $85.3 billion in the first half of 2017, according to Chinese state media.</p>
<p>Xi said China has been happy to see the economic reform policies that Mnangagwa put in place after the “peaceful, smooth” transfer of power.</p>
<p>Mnangagwa said that Zimbabwe appreciated China’s political support and goodwill and thanked Xi for sending an envoy immediately upon his inauguration.</p>
<p>“That was a great honour,” he said.</p>
<p>China continued to invest in large infrastructure projects in Zimbabwe throughout Mugabe’s rule as his government, sanctioned by Western nations for human rights abuses, increasingly turned to Beijing for help.</p>
<p>With his visit, Zimbabwe would attempt to tap China’s huge financial resources, technical expertise and modern technology in order to help revive the economy, Mnangagwa told the official Xinhua news agency in an interview on Saturday.</p>
<p>In December, Zimbabwe signed a $153 million loan agreement with China to expand and refurbish its international airport in Harare in a bid to attract investors and tourists, the first such deal under the new government.</p>
<p>China’s foreign ministry said a trip to Beijing by Zimbabwe’s military chief one week before the army seized power in the South African nation was a “normal military exchange” amid speculation at the time he had come to brief on plans to seize power.</p>
<p>Mnangagwa is likely to join other African leaders coming to Beijing in September for a summit held once every three years.</p>
<div class="container_28wm1">
<div class="attribution_o4ojT">
<p class="content_27_rw">Reporting by Christian Shepherd; Editing by Robert Birsel</p>
</div>
</div>


Mnangagwa has first state visit to China since taking office this is what was discussed…

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe loading="lazy" style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5758921059001" width="300" height="150" frameborder="0" allowfullscreen="allowfullscreen"></iframe></div>
</div>
<p>Zimbabwe’s Mines Minister Winston Chitando said amendments to the country’s mining laws will be finalized in the coming few months. CNBC Africa&#8217;s Daniel Sango caught up with the Minister on the side-lines of the inaugural Harare Indaba held in Johannesburg to give more clarity on the new mining rules and more.</p>


Zimbabwe’s mines minister clarifies new mining rules

<p>Zimbabwe’s President Emmerson Mnangagwa said on Monday companies and individuals had returned $591 million in funds illegally stashed abroad after a 90-day amnesty to bring back the money expired last week but $827 million was still outstanding.</p>
<p><img loading="lazy" decoding="async" class="alignnone wp-image-297907 size-full" src="http://cnbc.africa/wp-content/uploads/2018/02/zimbabwe_shutterstock_405855385-730x480.jpg" alt="" width="730" height="480" /></p>
<p class="">Mnangagwa announced a three-month amnesty for the return of public funds illegally stashed abroad when he was sworn-in in November after a defacto military coup forced Robert Mugabe to resign.</p>
<div class="container_28wm1">
<div class="attribution_o4ojT">
<p class="content_27_rw">Reporting by MacDonald Dzirutwe; Editing by James Macharia</p>
</div>
</div>


Mnangagwa says Zimbabweans return $591 million stashed abroad

<p>Zimbabwe’s first presidential and parliamentary elections since the end of former strongman Robert Mugabe’s long rule will take place in July, President Emmerson Mnangagwa said on Saturday.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-292290 size-full" src="http://cnbc.africa/wp-content/uploads/2017/11/Zimbabwe_Emmerson_GettyImages-RZ1.png" alt="" width="850" height="566" /></p>
<p class="">The polls will be the first major test of the new leader, who took power in November after a de facto military coup forced the 94-year-old Mugabe to resign.</p>
<div></div>
<p class="">They will also be the first without Mugabe’s name on the ballot since independence from Britain in 1980.</p>
<div>
<div class="container_2dHIN dp-slot-inline_eUPBt" data-ad-type="other"></div>
</div>
<p class="">“As a nation, party and government, we are looking forward to very peaceful, transparent and harmonised elections in July this year,” Mnangagwa told reporters after a meeting with South Africans President Cyril Ramaphosa on Saturday night.</p>
<p class="">Mnangagwa, 75, said the elections would be free of the violence that gripped previous polls and which was one of the reasons for strained relations between Zimbabwe and the West.</p>
<p class="">“I have already invited all political parties in Zimbabwe to a roundtable where we all commit ourselves to non-violence,” he added.</p>
<p class="">Mnanaggwa will have to announce a date in an official notice. He has said he would invite Western observers, who had been banned under Mugabe’s rule.</p>
<p class="">The state-owned weekly Sunday Mail said a European Union pre-election team was expectewd in Harare on Monday.</p>
<p class="">The EU head of mission in Zimbabwe, Phillipe Van Damme, told the paper it would meet the president, political party leaders, and the Zimbabwe Electoral Commission.</p>
<p class="">Mugabe, in his first comments since he stepped down, said last week that Mnangagwa’s rule was “illegitimate” and a “disgrace”.</p>
<div class="container_28wm1">
<div class="attribution_o4ojT">
<p class="content_27_rw">Reporting by MacDonald Dzirutwe, Editing by Angus MacSwan</p>
</div>
</div>


Zimbabwe to hold elections in July: President

<p>Zimbabwe’s former leader Robert Mugabe said he never thought new President Emmerson Mnangagwa would turn against him and denounced Mnangagwa’s move to oust him last year as a coup, in an interview broadcast on Thursday.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-291214 size-full" src="http://cnbc.africa/wp-content/uploads/2017/11/Robert-Mugabe_ZBC-Address_GettyImages.png" alt="" width="850" height="606" /></p>
<p class="">Mugabe, 94, ruled Zimbabwe from independence in 1980 until he stepped down under pressure from Mnangagwa’s allies in the army in November.</p>
<p class="">Viewed by some as a liberation hero, others remember Mugabe for turning a promising country into an economic basket case and international pariah.</p>
<p class="">Mnangagwa, deputy president under Mugabe, has promised to open up Zimbabwe to foreign investment and mend ties with the West since assuming power.</p>
<div>
<div class="container_2dHIN dp-slot-inline_eUPBt" data-ad-type="other"></div>
</div>
<p class="">“I never thought he whom I had nurtured and brought into government and whose life I worked so hard in prison to save as he was threatened with hanging, that one day he would be the man who would turn against me,” Mugabe said in the interview with South African state broadcaster SABC from Harare.</p>
<p class="">Mnangagwa was convicted of sabotage under white minority rule and sentenced to death. But he was spared the noose because it was deemed that he was a minor when he had committed the crime.</p>
<p class="">Mugabe said he was ousted in a “military takeover” and that Mnangagwa had assumed the presidency illegally.</p>
<p class="">“I don’t hate Emmerson, I brought him into government. But he must be proper, he is improper where he is. Illegal,” Mugabe said. “We must undo this disgrace, which we have imposed on ourselves. We don’t deserve it.”</p>
<p class="">Since his fall from power, Mugabe has stayed at his Harare mansion with his wife Grace. His ousting was the culmination of a power struggle between Mnangagwa and Grace Mugabe, who was being groomed by her husband as his potential successor.</p>
<p class="">Mugabe was granted immunity from prosecution and assured that his safety will be protected in his home country under a deal that led to his resignation.</p>
<p class="">Mugabe quit as parliament began a process to impeach him, triggering wild celebrations in the streets.</p>
<p class="">Zimbabwe was once one of Africa’s most promising economies but suffered decades of decline as Mugabe pursued policies that included the violent seizure of white-owned commercial farms and money-printing that led to hyperinflation.</p>
<p class="">Mnangagwa has said Zimbabwe still wants to end discrimination between black and white farmers but will seek new ways to compensate those who have lost their properties. Former colonial ruler Britain said last month that Harare should press on with transparent and fair land reform.</p>
<div class="container_28wm1">
<div class="attribution_o4ojT">
<p class="content_27_rw">Writing by Alexander Winning; Editing by James Macharia and Andrew Heavens</p>
</div>
</div>


Zimbabwe’s Mugabe says never thought Mnangagwa would turn against him

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe loading="lazy" style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5751106444001" width="300" height="150" frameborder="0" allowfullscreen="allowfullscreen"></iframe></div>
</div>
<p><em>Zimbabweans in the diaspora are heeding the call by President Mnangagwa to come back home to invest and rebuild the economy. A consortium made up of Zimbabwe&#8217;s Diaspora Infrastructure Development Group (DIDG) and South Africa&#8217;s state-owned rail transport group Transnet delivered the first batch of rolling stock equipment to National Railways of Zimbabwe (NRZ), as to strengthen trade and the recapitalisation of the country’s railway programme. However there has been concern that the equipment delivered is second hand and out-dated. CNBC Africa&#8217;s Daniel Sango caught up with DIDG Chairman Donovan Chimhandamba to discuss more details on the $400 million US dollars recapitalisation deal.</em></p>
<p><em> </em></p>
<p><em> </em></p>


Zimbabwe diaspora, Transnet win $400mn NRZ tender

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5743100883001" allowfullscreen="" border=0 frameborder=0></iframe></div>
</div>
<p>The 5th Zimbabwe Financial Markets Indaba is currently underway in Johannesburg today. The summit hopes to attract increased investments into the country to prop up its ailing economy.</p>


When is Zimbabwe getting its own currency?

<p><em>Mohamed M Diatta | Sciences Po – USPC</em></p>
<p>At a time where Africa has seen a few long-standing leaders exit, the issue of change in power is occupying minds of citizens as well as those in leadership positions.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-290966 size-full" src="http://cnbc.africa/wp-content/uploads/2017/11/Angola_Joao-Lourenço_Dos-Santos_GettyImages.png" alt="" width="850" height="566" /></p>
<p>In spite of their varied repertoire of tactics to remain in power, no one is immune to the wave of change in leadership that has led many African presidents to lose their coveted top job.</p>
<p>Whether through elections, succession battles, coups or end of terms in office it has become a question of when and how they will exit. That’s if one is not too concerned with what comes afterwards. Though it is too early to tell whether meaningful changes can be expected, cases such as Zimbabwe suggest that its citizens can envisage more of the same.</p>
<p>Nevertheless, a review of developments in 2017 shows that it was a fruitful year for those advocating change. Examples include the Gambia where Adama Barrow came in as a promising new leader. Angola’s Joao Manuel Lourenço rose to power and immediately replaced some top public servants, raising hopes that he might champion good governance, although there hasn’t been an overhaul of the system.</p>
<p>In any case, the arrival of a ‘new’ leader in power always brings optimism for change and constitutes an opportunity for new beginnings.</p>
<h2>The big changes of 2017</h2>
<p>In the Gambia Yahya Abdul-Aziz Jammeh decided to hang onto power following his electoral defeat to Adama Barrow.</p>
<div id="attachment_299592" style="width: 310px" class="wp-caption alignleft"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-299592" class="wp-image-299592 size-medium" src="http://cnbc.africa/wp-content/uploads/2018/02/Gambia-President_Adama-Barrow_GettyImages-300x200.png" alt="" width="300" height="200" /><p id="caption-attachment-299592" class="wp-caption-text">Gambian President, Adama Barrow. Image: Getty Images</p></div>
<p>After nearly four decades in power Angola’s Jose Eduardo Dos Santos did not seek reelection. But his ruling Movement for the Liberation of Angola (MPLA) retained power after winning the August presidential election. Dos Santos was succeeded by Joao Manuel Goncalves Lourenço, his former Minister of Defense.A nuisance to his Senegalese neighbour and an embarrassment to his peers in the subregional body, he was eventually pushed out by the Economic Community of West African States, ending his 22-year rule. He has since been in exile in Equatorial Guinea.</p>
<p>Zimbabwe provided the finale to an eventful year when, in a battle for succession, Robert Mugabe was forced out by a faction of his ZANU-PF with the help the Zimbabwean Defense Forces. Emmerson Mnangagwa, his long-time ally, and vice-president, took over the country. Mnangagwa has announced that elections this year will be ‘free and fair’. He is expected to retain power and his ZANU-PF to keep control of the national assembly.</p>
<h2>Different fortunes</h2>
<p>Rwanda, Kenya and Liberia all presented tales of different presidential fortunes.</p>
<p>After the December 2015 constitutional amendment allowing Paul Kagame to run for a third term and potentially remain in power until 2034, he was, without a surprise, reelected in august 2017 with almost 99 % of the votes. Kagame, touted by many as the providential leader who has stabilised and redressed a country emerging from genocide, is also criticised for muzzling all forms of opposition and restricting civil liberties.</p>
<p>In Kenya, Chris Msando, head of information, communication and technology for the Independent Electoral and Boundaries Commission, was tortured and murdered a week before the presidential election. Following the august 8th polls, the opposition coalition known as NASA and led by Raila Ondinga, contested the reelection of incumbent Uhuru Kenyatta. Despite international observers (including the African Union) finding no major issues with the polls, the Kenyan Supreme Court annulled the results and called for a new election in October.</p>
<div id="attachment_292572" style="width: 310px" class="wp-caption alignright"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-292572" class="wp-image-292572 size-medium" src="http://cnbc.africa/wp-content/uploads/2017/11/Uhuru-Kenyatta_New_Flickr-300x200.jpg" alt="" width="300" height="200" /><p id="caption-attachment-292572" class="wp-caption-text">Kenyan President, Uhuru Kenyatta.</p></div>
<p>Kenya has since sunk into a political and institutional crisis, aggravated by the recent inauguration of Odinga as the ‘peoples president’.Uhuru Kenyatta was eventually reelected president in October, after NASA’s refusal to take part in the election without addressing the key issues raised about the electoral commission.</p>
<p>Africa’s presidential electoral year ended in Liberia, on 28 December, with the passing of the baton between the ruling-party’s candidate Joseph Nyumah Bokai and Georges Oppong Weah. The former soccer star turned politician and senator, won in the second round with more than 60% of the votes taking over from Ellen Johnson Sirleaf’s 12 year rule. He will have to redress the resource-rich but yet poor nation, in the wake of a debilitating Ebola outbreak.</p>
<h2>Lessons to take into 2018</h2>
<p>In the three emblematic cases of ‘handover’ – Angola, Zimbabwe and The Gambia – it’s difficult to say whether the democratic deficit is less serious today. But if ZANU-PF and the MPLA don’t renew themselves, systems that don’t have a stellar record in the rule of law and good governance departments could easily be perpetuated.</p>
<p>Gambians, for their part, can hope that the coming to power of a novice in politics will bring them a better life.</p>
<p>Ensuring democratic and good governance, free and fair elections, and peaceful transitions to power are no longer optional.</p>
<p>Stability in several countries will indubitably be jeopardised in 2018 if some governments do not deliver free and fair elections. Similarly, undertaking constitutional changes that contradict the rule of law, the separation of powers and don’t uphold political agreements, will further entrench instability. From this point of view, Africa’s regional organisations will have to manage the post-electoral crises from previous years – including Kenya – and try and prevent those on the horizon this year.</p>
<p><img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/91600/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" />The African Union must, more than ever, have all its member states sing to the tune of democracy. This can be facilitated by a reform of the organisation. But this, in turn, hinges on the political will of those who will have to endorse the necessary changes. Unfortunately, they remain, for the moment, the guardians of the old order.</p>
<p><em>This article was originally published on The Conversation. </em></p>


Africa waves some leaders goodbye: but is the democratic deficit any narrower?

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe loading="lazy" style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5737034599001" width="300" height="150" frameborder="0" allowfullscreen="allowfullscreen"></iframe></div>
</div>
<p>Zimbabwe’s new leader has promised to compensate white farmers whom were forced off their land during former President Mugabe’s controversial land reform programme. This comes as the dispossessed white farmers have tabled a US$9 billion compensation claim. Where will Mnangagwa’s administration get the money to pay these evicted white farmers, and what does this mean for the agricultural sector? For more CNBC Africa&#8217;s Daniel Sango spoke with Zimbabwean Political Economic Analyst, Dr Jabusile Shumba.</p>


Zimbabwe has no clear funding plan to compensate evicted white farmers – Analyst

<p><em>Gary van Staden | NKC African Economics</em></p>
<p>President Emmerson Mnangagwa has predictably received a warm welcome at the World Economic Forum (WEF) gathering in Davos. The European Union (EU) became the latest multilateral institution to pledge support for the new dispensation in Harare.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-297316 size-full" src="http://cnbc.africa/wp-content/uploads/2018/01/Zimbabwe_Emmerson-Mnangagwa_GettyImages.png" alt="" width="850" height="566" /></p>
<p>However, like his neighbours in South Africa, he should be aware that foreign donors are watching for delivery and walking the talk.</p>
<p>The sudden and rapid developments in Zimbabwe late last year, which saw the military essentially remove former President Robert Mugabe and subsequently elevate Mr Mnangagwa to the top post, have ushered in a new opportunity for the country to achieve its economic potential as a powerhouse in the region.</p>
<p>Harare sources have said that the reception in Davos has been “very encouraging” and that some short-term progress in outside assistance was in the pipeline, but that the medium- to longer-term prognosis was a little trickier.</p>
<p>These sources offer several reasons for the reluctance of the international financial community to take Mr Mnangagwa at his word, including: his alleged role in atrocities in the 1980s that has never been satisfactorily resolved, the frequent false dawns produced by the Mugabe administration that always failed to materialise, and the potential for pushback among Mugabe loyalists in the ruling Zanu-PF.</p>
<p>The clear message to Mr Mnangagwa seems to be: “show us the change and we will show you the money.”</p>
<p>Those present at Davos who have serious agendas, will seek out Mr Mnangagwa to probe more deeply the prospects for significant political and economic reform and no doubt the president will have some of the answers they seek.</p>
<p>But caution will be mixed with the warm reception the Zimbabwe delegation receives due to the forthcoming elections.</p>
<p>Elections in the country have not been entirely free and fair for close on 20 years and in some cases, such as in 2008, were blatantly stolen. The behaviour of Zanu-PF, the security establishment and State institutions charged with running the elections due in a few months’ time are going to have be, if not above reproach, then at least good enough for Western governments to be able to endorse the outcome.</p>
<p>We believe Zanu-PF will lay off the institutionalised rigging and intimidation and try to run a free and fair poll – then foreign interest in the country will surge.</p>
<p>Those with a higher appetite for risk may not wait for the elections, and we will begin to see a serious uptick in foreign interest before the elections. However, the big money will probably take a more cautious approach even though by waiting they may have to pay a premium.</p>
<p>The Bretton Woods institutions and other multilateral organisations would probably engage relatively quickly.</p>
<p>It is apparent that Davos and the opportunities such a gathering presents will provide Zimbabwe with a platform it has shunned for two decades and, generally, its presence will be widely welcomed. But the mantra may be ‘action speaks louder than words’ and the Mnangagwa administration faces its first real test when elections fall due later this year.</p>
<p>Mr Mnangagwa has already stated that foreign observer missions would be welcome to monitor the polls, a change from the previsions regime that tended to allow mainly ‘sweetheart’ monitors such as the Southern African Development Community (Sadc) to watch proceedings.</p>
<p>An acceptable poll is important for future engagements on business issues, and that may mean Zanu-PF must rein in its own over-zealous followers who may find it difficult to reform past behaviour.</p>
<p>Isolated incidents are expected to arise during the election campaign, but we need to take a wider and deeper view when these incidents occur.</p>
<p>Economic reform and policy reviews will set the tone for change, but the real test is to see Zanu-PF win a genuinely free and fair poll.</p>


Zimbabwe – Mnangagwa charm offensive in Davos will pay dividends

<p>IMF chief Christine Lagarde on Thursday welcomed a commitment by Zimbabwe’s new President Emmerson Mnangagwa to stabilize the country’s economy and work to improve relations with the international community.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-291634 size-full" src="http://cnbc.africa/wp-content/uploads/2017/11/Emmerson-Mnangagwa_-GettyImages-RZ.png" alt="" width="850" height="591" /></p>
<p>Lagarde met with Mnangagwa on the sidelines of the World Economic Forum in Davos, Switzerland. It was their first meeting since Mnangagwa took power in November when the military ousted Robert Mugabe, who ruled for 37 years.</p>
<p>“This was an opportunity to share views on ways to address the severe economic challenges that Zimbabwe is facing, and how the IMF can help,” Lagarde said on Twitter after the meeting.</p>
<div class="DPSlot_container_2dHIN StandardArticleBody_dp-slot-inline_eUPBt" data-ad-type="other"></div>
<p>Afterward, the International Monetary Fund said Lagarde “welcomed President Mnangagwa’s commitment to stabilizing the Zimbabwean economy and working towards normalizing the country’s engagement with the international community.”</p>
<p>International donors withdrew support for Mugabe’s government after he imposed policies that included violent seizure of white-owned commercial farms.</p>
<p>The country has not been able to borrow from international lenders since 1999 when it started defaulting on its debt.</p>
<p>The country cleared its 15-year-old financial arrears to the IMF in 2016. It is, however, still in arrears to the World Bank and African Development Bank, which hampers its ability to tap development financing from the two institutions.</p>
<p>The IMF has told Zimbabwe not to clear its $1.75 billion foreign arrears by borrowing from lenders, which would worsen the country’s debts.</p>
<p>Instead it has suggested cuts to public sector wages, reducing farm subsidies, improving transparency in the mining sector and reaching an agreement on compensating farmers.</p>
<p>Addressing an audience in Davos on Monday, Mnangagwa promised to hold transparent elections by July and said he would respect the outcome of the vote even if the opposition wins.</p>
<p>The election will be the first big test of his legitimacy since he took power. [nL8N1PJ4GM]</p>
<div class="Attribution_attribution_o4ojT">
<p class="Attribution_content_27_rw">Reporting by Lesley Wroughton; Editing by James Dalgleish</p>
</div>


IMF’s Lagarde welcomes Mnangagwa’s promise to revive Zimbabwe economy

<p style="text-align: center;"><a href="http://cnbc.africa/category/insights/world-economic-forum/wef-davos-2018/">FOR MORE STORIES ON WEF DAVOS 2018 CLICK HERE</a></p>
<p><iframe loading="lazy" src="https://webcasts.weforum.org/widget/1/davos2018?p=1&amp;th=1&amp;hl=english&amp;id=a0Wb000000ANqvsEAD" width="970px" height="555px" frameborder="0" scrolling="no"></iframe></p>
<p style="text-align: center;"><a href="http://cnbc.africa/category/insights/world-economic-forum/">FOR MORE STORIES ON WEF DAVOS 2018 CLICK HERE</a></p>


An Insight, An Idea with Zimbabwe’s President Emmerson Mnangagwa

<p>Zimbabwe has given cabinet ministers and senior government officials until the end of February to declare their assets as new President Emmerson Mnangagwa seeks to foster transparency and fight corruption.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-292290 size-full" src="http://cnbc.africa/wp-content/uploads/2017/11/Zimbabwe_Emmerson_GettyImages-RZ1.png" alt="" width="850" height="566" /></p>
<p>Mnangagwa, 75, took power after Robert Mugabe was toppled by the military. He immediately promised to tackle corruption, especially in public institutions.</p>
<p>Misheck Sibanda, chief secretary to the president and cabinet, said in a statement that it was now mandatory for cabinet ministers, their deputies, senior government officials and bosses of state-owned businesses to declare their assets.</p>
<div class="DPSlot_container_2dHIN StandardArticleBody_dp-slot-inline_eUPBt" data-ad-type="other"></div>
<p>The officials will be required to disclose details on their real estate, other property valued above $100,000, and shareholdings in businesses by February 28.</p>
<p>“The president expects the full and urgent cooperation of all the affected office bearers,” Sibanda said.</p>
<p>Mnangagwa, who is attending the World Economic Forum in Davos, the first time by a Zimbabwean president, is trying to break with past policies of Mugabe in a bid to lure foreign investment and end the country’s international pariah status.</p>
<p>Under Mugabe’s near four-decade rule, few government officials were arrested for corruption.</p>
<p>When the military announced it had put Mugabe under house arrest on Nov. 15, it said it was targeting criminals that surrounded the 93-year-old leader.</p>
<p>Since then, three former government ministers and allies of Mugabe have been arrested and charged in court for criminal abuse of office. The trio denies the charges and say they are being persecuted for supporting Mugabe and his wife Grace.</p>
<div class="Attribution_attribution_o4ojT">
<p class="Attribution_content_27_rw">Reporting by MacDonald Dzirutwe; Editing by Peter Graff</p>
</div>


New Zimbabwe leader orders top officials to declare assets

<p>The European Union is ready to review ties with Zimbabwe and support the country’s re-engagement with international financial institutions once the new government presents clear plans for political and economic reform, the EU’s embassy in Harare said.</p>
<div id="attachment_291244" style="width: 860px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-291244" class="wp-image-291244 size-full" src="http://cnbc.africa/wp-content/uploads/2017/11/Emmerson-Mnangagwa_GettyImages.png" alt="" width="850" height="565" /><p id="caption-attachment-291244" class="wp-caption-text">Photo: Emmerson Mnangagwa: Getty Images</p></div>
<p>That could include providing election monitors when Zimbabweans vote later this year for the first time since former president Robert Mugabe resigned following a de facto military coup in November after nearly four decades in power.</p>
<p>The embassy said in a statement on Tuesday that the EU Council had agreed at a meeting in Brussels on Monday that the elections were an essential step in mending relations.</p>
<div class="DPSlot_container_2dHIN StandardArticleBody_dp-slot-inline_eUPBt" data-ad-type="other"></div>
<p>“The EU will support the authorities in establishing as soon as possible a constructive re-engagement with international financial institutions based on a clear and time-bound economic and political reform programme,” the statement said.</p>
<p>“The EU stands ready to review the whole range of its policies towards Zimbabwe at any moment to take into account the progress achieved in the country.”</p>
<p>The southern African nation became a pariah under Mugabe when it defaulted on its foreign debt in 1999 and was slapped with Western sanctions over alleged vote rigging and the violent seizure of white-owned farms.</p>
<p>New president Emmerson Mnangagwa, 75, has promised to repair ties with the West, repay Zimbabwe’s foreign debt, compensate white farmers and open up the resource-rich country to overseas investors.</p>
<p>The EU has since 2009 gradually lifted sanctions on senior ruling party and military figures and state-owned firms but kept a financial and travel embargo on Mugabe and his wife Grace.</p>
<p>Since imposing the sanctions, the EU has shunned the government, and restricted its funding to charities only.</p>
<p>The 28-member bloc said after Monday’s meeting it would welcome an invitation to monitor the election later this year if Zimbabwe invites it to do so, the embassy statement said.</p>
<div class="Attribution_attribution_o4ojT">
<p class="Attribution_content_27_rw">Reporting by MacDonald Dzirutwe; Editing by Catherine Evans</p>
</div>


Emmerson Mnangagwa

Why Zimbabwe’s opposition leader reportedly wants to give Chinese investors the boot

The IMF has altered its outlook on Africa, this is what’s changed

Zimbabwe invites Western powers to observe elections

Mnangagwa has first state visit to China since taking office this is what was discussed…

Zimbabwe’s mines minister clarifies new mining rules

Mnangagwa says Zimbabweans return $591 million stashed abroad

Zimbabwe to hold elections in July: President

Zimbabwe’s Mugabe says never thought Mnangagwa would turn against him

Zimbabwe diaspora, Transnet win $400mn NRZ tender

When is Zimbabwe getting its own currency?

Africa waves some leaders goodbye: but is the democratic deficit any narrower?

Zimbabwe has no clear funding plan to compensate evicted white farmers – Analyst

Zimbabwe – Mnangagwa charm offensive in Davos will pay dividends

IMF’s Lagarde welcomes Mnangagwa’s promise to revive Zimbabwe economy

An Insight, An Idea with Zimbabwe’s President Emmerson Mnangagwa

New Zimbabwe leader orders top officials to declare assets

EU says ready to support Zimbabwe engage foreign lenders

News Tips

Advertise With Us

Emmerson Mnangagwa

Why Zimbabwe’s opposition leader reportedly wants to give Chinese investors the boot

The IMF has altered its outlook on Africa, this is what’s changed

Zimbabwe invites Western powers to observe elections

Mnangagwa has first state visit to China since taking office this is what was discussed…

Zimbabwe’s mines minister clarifies new mining rules

Mnangagwa says Zimbabweans return $591 million stashed abroad

Zimbabwe to hold elections in July: President

Zimbabwe’s Mugabe says never thought Mnangagwa would turn against him

Zimbabwe diaspora, Transnet win $400mn NRZ tender

When is Zimbabwe getting its own currency?

Africa waves some leaders goodbye: but is the democratic deficit any narrower?

Zimbabwe has no clear funding plan to compensate evicted white farmers – Analyst

Zimbabwe – Mnangagwa charm offensive in Davos will pay dividends

IMF’s Lagarde welcomes Mnangagwa’s promise to revive Zimbabwe economy

An Insight, An Idea with Zimbabwe’s President Emmerson Mnangagwa

New Zimbabwe leader orders top officials to declare assets

EU says ready to support Zimbabwe engage foreign lenders

News Tips

Advertise With Us

Newsletters