DrBanneker
Space is the Place
True. The fact he allowed non-Blacks to capture the state like that is another level of trash corruption. I have no tears to shed for him if the ANC pushes him out.
Zimbabwe Succession Watch: Mnangagwa is the second president of the Republic
True. The fact he allowed non-Blacks to capture the state like that is another level of trash corruption. I have no tears to shed for him if the ANC pushes him out.
thatrapsfan
Superstar
Are you from Zim?
thatrapsfan
Superstar
I actually think what @The Odum of Ala Igbo is speculating is very plausible... he isn't saying the Chinese planned the coup, he's saying its likely Chiwenga made sure their biggest investor had some knowledge of his thinking. How could that lead to backlash from the AU and SA? Also the latter dont have much leverage to even direct backlash against China. The organization whos HQ was literally built by China is going to publicly chastise it for having talks with a Zim general?re:Zuma He ain't betray Mugabe, he warned Chiwenga of SA intervention though.
re:China . They denied it officially. Why would China risk instability and backlash from
the AU and SA? This is all Chiwenga.
re: Nigeria Lol i'm not but considering the history there... you know
Zimbabwe's economic potential could be 'huge' post-Mugabe, analysts say
Once known as the "breadbasket of Africa", Zimbabwe may once again have a chance at genuine economic growth after decades of decline, according to analysts.
"If we see it put on a better trajectory, there's huge potential in Zimbabwe," Stuart Culverhouse, director at investment bank Exotix Limited, told CNBC on Thursday.
Known more recently for its poor human rights record and crippled economy — inflation currently exceeds 200 percent and unemployment is above 90 percent — the country of 16 million was rocked by what appeared to be a military takeover Wednesday.
Zimbabwe's army claimed it has detained longtime ruler Robert Mugabe "for his own safety" as it seeks to target so-called "criminals" around him. Amid the frenzied international reaction, many observers are cautiously suggesting the dawn of a new era post-Mugabe.
"There has been decay, obviously, through the policies of the last 20 years, but it could be on a much stronger growth path, and that could transform the country and the southern region," Culverhouse said.
Zimbabwe was a significant agricultural exporter up until 2000, when Mugabe encouraged the violent seizure of white-owned farms, triggering food production shortages and widespread famine. Now, over half of the country's irrigable land — once lush with maize, cotton, tobacco, roses and sugarcane — is underutilized due to poorly-managed agricultural reforms, according to a 2016 report by Zimbabwe's auditor general.
The nation also has the world's third largest reserves of platinum, the precious metal used in electronic and medical equipment, and is the fifth-largest producer of lithium, essential for rechargeable batteries. With the mounting global demand for smartphones and electric cars, Zimbabwe is attracting increasing interest from mining companies, analyst Ryan Turner at Protection Group International said Thursday.
However, he added: "Investors are likely to remain cautious on Zimbabwe. The country has huge potential but equally large challenges. Corruption, an uncompetitive workforce, poor infrastructure and onerous regulations are likely to persist for the foreseeable future."
Much hope lies in the return of Emmerson Mnangagwa to power, the former vice president who Mugabe sacked one week prior to the military's seizure of the country, and to whom Zimbabwe's military appears loyal.
"Early indications that the military hopes to improve the economic situation and Mnangagwa's apparent support for pro-business reforms are cause for cautious optimism after decades of mismanagement under Mugabe," Turner said. Indeed, the military's statement Wednesday announced that it was targeting those "committing crimes... that are causing social and economic suffering in the country."
A Reuters investigation in September found documents indicating that Mnangagwa had planned to mend relations with white farmers to help revive the agricultural industry. "Mnangagwa and former prime minister Morgan Tsvangirai are rumored to be in talks over a potential power sharing deal," Turner said.
If Meugabe's policies continue Zimbabwe will continue on sub-par growth Huge potential in Zimbabwe for much stronger growth path: Exotix
3:07 AM ET Thu, 16 Nov 2017 | 03:41
Once known as the "breadbasket of Africa", Zimbabwe may once again have a chance at genuine economic growth after decades of decline, according to analysts.
"If we see it put on a better trajectory, there's huge potential in Zimbabwe," Stuart Culverhouse, director at investment bank Exotix Limited, told CNBC on Thursday.
Known more recently for its poor human rights record and crippled economy — inflation currently exceeds 200 percent and unemployment is above 90 percent — the country of 16 million was rocked by what appeared to be a military takeover Wednesday.
Zimbabwe's army claimed it has detained longtime ruler Robert Mugabe "for his own safety" as it seeks to target so-called "criminals" around him. Amid the frenzied international reaction, many observers are cautiously suggesting the dawn of a new era post-Mugabe.
"There has been decay, obviously, through the policies of the last 20 years, but it could be on a much stronger growth path, and that could transform the country and the southern region," Culverhouse said.
A man holds a two dollar Zimbabwean 'bond note' withdrawn in Harare, Zimbabwe on November 28, 2016.
Wilfred Kajese | AFP | Getty Images
A man holds a two dollar Zimbabwean 'bond note' withdrawn in Harare, Zimbabwe on November 28, 2016.
Zimbabwe was a significant agricultural exporter up until 2000, when Mugabe encouraged the violent seizure of white-owned farms, triggering food production shortages and widespread famine. Now, over half of the country's irrigable land — once lush with maize, cotton, tobacco, roses and sugarcane — is underutilized due to poorly-managed agricultural reforms, according to a 2016 report by Zimbabwe's auditor general.
The nation also has the world's third largest reserves of platinum, the precious metal used in electronic and medical equipment, and is the fifth-largest producer of lithium, essential for rechargeable batteries. With the mounting global demand for smartphones and electric cars, Zimbabwe is attracting increasing interest from mining companies, analyst Ryan Turner at Protection Group International said Thursday.
However, he added: "Investors are likely to remain cautious on Zimbabwe. The country has huge potential but equally large challenges. Corruption, an uncompetitive workforce, poor infrastructure and onerous regulations are likely to persist for the foreseeable future."
A military tank seals off a main road to the presidential office within the military activities taking place in Harare, Zimbabwe on November 15, 2017
Stringer | Anadolu Agency | Getty Images
A military tank seals off a main road to the presidential office within the military activities taking place in Harare, Zimbabwe on November 15, 2017
Much hope lies in the return of Emmerson Mnangagwa to power, the former vice president who Mugabe sacked one week prior to the military's seizure of the country, and to whom Zimbabwe's military appears loyal.
"Early indications that the military hopes to improve the economic situation and Mnangagwa's apparent support for pro-business reforms are cause for cautious optimism after decades of mismanagement under Mugabe," Turner said. Indeed, the military's statement Wednesday announced that it was targeting those "committing crimes... that are causing social and economic suffering in the country."
A Reuters investigation in September found documents indicating that Mnangagwa had planned to mend relations with white farmers to help revive the agricultural industry. "Mnangagwa and former prime minister Morgan Tsvangirai are rumored to be in talks over a potential power sharing deal," Turner said.
Whole of south Africa looking at Zimbabwe with trepidation Why sub-Saharan Africa is looking at Zimbabwe with trepidation
5:03 AM ET Thu, 16 Nov 2017 | 03:29
Still, the short-term economic picture appears bleak. "For the majority of the population living in poverty, nothing will change in the near-term to improve their standard of living," said Alisha Patel, Africa analyst at AKE. "There are significant uncertainties over a transitional government and a time frame for elections. Before talk of IMF funding and a resumption of ties with Western donors can even begin, the victors of this coup will need to restore the constitutional order."
As a pariah state, Zimbabwe has turned east and relied on China for billions in funding and loans — Beijing invested in more than 128 projects in the African country between 2000 and 2012, according to the South China Morning Post. China's ambassador to Zimbabwe told CNBC that Beijing is concerned about the situation, and wants it ended quietly.
Ultimately, Zimbabwe's growth depends on what kind of government results from the current upheaval, said Theophilus Acheampong, Zimbabwe analyst at IHS Markit.
"Improvement in the liquidity and FX flows over the medium-term, possibly driven by increased agricultural output, (could) improve electricity supply and minerals production," Acheampong told CNBC. "Mwangagwa's allies coming back to government means that these proposals are likely to go ahead as the country carves a new image for itself on the political and economic front with various pro-business reforms that will attract FDI into the country."
Zimbabwe's economic potential could be 'huge' post-Mugabe, analysts say
The bolded are interesting. Thoughts?
Once known as the "breadbasket of Africa", Zimbabwe may once again have a chance at genuine economic growth after decades of decline, according to analysts.
"If we see it put on a better trajectory, there's huge potential in Zimbabwe," Stuart Culverhouse, director at investment bank Exotix Limited, told CNBC on Thursday.
Known more recently for its poor human rights record and crippled economy — inflation currently exceeds 200 percent and unemployment is above 90 percent — the country of 16 million was rocked by what appeared to be a military takeover Wednesday.
Zimbabwe's army claimed it has detained longtime ruler Robert Mugabe "for his own safety" as it seeks to target so-called "criminals" around him. Amid the frenzied international reaction, many observers are cautiously suggesting the dawn of a new era post-Mugabe.
"There has been decay, obviously, through the policies of the last 20 years, but it could be on a much stronger growth path, and that could transform the country and the southern region," Culverhouse said.
Zimbabwe was a significant agricultural exporter up until 2000, when Mugabe encouraged the violent seizure of white-owned farms, triggering food production shortages and widespread famine. Now, over half of the country's irrigable land — once lush with maize, cotton, tobacco, roses and sugarcane — is underutilized due to poorly-managed agricultural reforms, according to a 2016 report by Zimbabwe's auditor general.
The nation also has the world's third largest reserves of platinum, the precious metal used in electronic and medical equipment, and is the fifth-largest producer of lithium, essential for rechargeable batteries. With the mounting global demand for smartphones and electric cars, Zimbabwe is attracting increasing interest from mining companies, analyst Ryan Turner at Protection Group International said Thursday.
However, he added: "Investors are likely to remain cautious on Zimbabwe. The country has huge potential but equally large challenges. Corruption, an uncompetitive workforce, poor infrastructure and onerous regulations are likely to persist for the foreseeable future."
Much hope lies in the return of Emmerson Mnangagwa to power, the former vice president who Mugabe sacked one week prior to the military's seizure of the country, and to whom Zimbabwe's military appears loyal.
"Early indications that the military hopes to improve the economic situation and Mnangagwa's apparent support for pro-business reforms are cause for cautious optimism after decades of mismanagement under Mugabe," Turner said. Indeed, the military's statement Wednesday announced that it was targeting those "committing crimes... that are causing social and economic suffering in the country."
A Reuters investigation in September found documents indicating that Mnangagwa had planned to mend relations with white farmers to help revive the agricultural industry. "Mnangagwa and former prime minister Morgan Tsvangirai are rumored to be in talks over a potential power sharing deal," Turner said.
If Meugabe's policies continue Zimbabwe will continue on sub-par growth Huge potential in Zimbabwe for much stronger growth path: Exotix
3:07 AM ET Thu, 16 Nov 2017 | 03:41
Once known as the "breadbasket of Africa", Zimbabwe may once again have a chance at genuine economic growth after decades of decline, according to analysts.
"If we see it put on a better trajectory, there's huge potential in Zimbabwe," Stuart Culverhouse, director at investment bank Exotix Limited, told CNBC on Thursday.
Known more recently for its poor human rights record and crippled economy — inflation currently exceeds 200 percent and unemployment is above 90 percent — the country of 16 million was rocked by what appeared to be a military takeover Wednesday.
Zimbabwe's army claimed it has detained longtime ruler Robert Mugabe "for his own safety" as it seeks to target so-called "criminals" around him. Amid the frenzied international reaction, many observers are cautiously suggesting the dawn of a new era post-Mugabe.
"There has been decay, obviously, through the policies of the last 20 years, but it could be on a much stronger growth path, and that could transform the country and the southern region," Culverhouse said.
A man holds a two dollar Zimbabwean 'bond note' withdrawn in Harare, Zimbabwe on November 28, 2016.
Wilfred Kajese | AFP | Getty Images
A man holds a two dollar Zimbabwean 'bond note' withdrawn in Harare, Zimbabwe on November 28, 2016.
Zimbabwe was a significant agricultural exporter up until 2000, when Mugabe encouraged the violent seizure of white-owned farms, triggering food production shortages and widespread famine. Now, over half of the country's irrigable land — once lush with maize, cotton, tobacco, roses and sugarcane — is underutilized due to poorly-managed agricultural reforms, according to a 2016 report by Zimbabwe's auditor general.
The nation also has the world's third largest reserves of platinum, the precious metal used in electronic and medical equipment, and is the fifth-largest producer of lithium, essential for rechargeable batteries. With the mounting global demand for smartphones and electric cars, Zimbabwe is attracting increasing interest from mining companies, analyst Ryan Turner at Protection Group International said Thursday.
However, he added: "Investors are likely to remain cautious on Zimbabwe. The country has huge potential but equally large challenges. Corruption, an uncompetitive workforce, poor infrastructure and onerous regulations are likely to persist for the foreseeable future."
A military tank seals off a main road to the presidential office within the military activities taking place in Harare, Zimbabwe on November 15, 2017
Stringer | Anadolu Agency | Getty Images
A military tank seals off a main road to the presidential office within the military activities taking place in Harare, Zimbabwe on November 15, 2017
Much hope lies in the return of Emmerson Mnangagwa to power, the former vice president who Mugabe sacked one week prior to the military's seizure of the country, and to whom Zimbabwe's military appears loyal.
"Early indications that the military hopes to improve the economic situation and Mnangagwa's apparent support for pro-business reforms are cause for cautious optimism after decades of mismanagement under Mugabe," Turner said. Indeed, the military's statement Wednesday announced that it was targeting those "committing crimes... that are causing social and economic suffering in the country."
A Reuters investigation in September found documents indicating that Mnangagwa had planned to mend relations with white farmers to help revive the agricultural industry. "Mnangagwa and former prime minister Morgan Tsvangirai are rumored to be in talks over a potential power sharing deal," Turner said.
Whole of south Africa looking at Zimbabwe with trepidation Why sub-Saharan Africa is looking at Zimbabwe with trepidation
5:03 AM ET Thu, 16 Nov 2017 | 03:29
Still, the short-term economic picture appears bleak. "For the majority of the population living in poverty, nothing will change in the near-term to improve their standard of living," said Alisha Patel, Africa analyst at AKE. "There are significant uncertainties over a transitional government and a time frame for elections. Before talk of IMF funding and a resumption of ties with Western donors can even begin, the victors of this coup will need to restore the constitutional order."
As a pariah state, Zimbabwe has turned east and relied on China for billions in funding and loans — Beijing invested in more than 128 projects in the African country between 2000 and 2012, according to the South China Morning Post. China's ambassador to Zimbabwe told CNBC that Beijing is concerned about the situation, and wants it ended quietly.
Ultimately, Zimbabwe's growth depends on what kind of government results from the current upheaval, said Theophilus Acheampong, Zimbabwe analyst at IHS Markit.
"Improvement in the liquidity and FX flows over the medium-term, possibly driven by increased agricultural output, (could) improve electricity supply and minerals production," Acheampong told CNBC. "Mwangagwa's allies coming back to government means that these proposals are likely to go ahead as the country carves a new image for itself on the political and economic front with various pro-business reforms that will attract FDI into the country."
Zimbabwe's economic potential could be 'huge' post-Mugabe, analysts say
The bolded are interesting. Thoughts?
The bolded are interesting. Thoughts?
We will finally lift frivolous sanctions and try to sabotage your relationship with China
So many other African countries have been given the same label with "huge potential".
They also said the same thing about Ethiopia, Tanzania, Angola, Nigeria, etc. Yet none have really taken advantage of their resources despite their "potential" so far.
The only country I see actually making serious progress is Rwanda.
I'll believe it, when I actually see it with Zimbabwe.
I addressed this posts by you before already. And its ironic you mention Rwanda. Anyways Tanzania, so far ARE making progress. But we'll have to see in the future if they make their goal of reaching Middle Class status by 2025. I never seen analyst claim Ethiopia has huge potential but ethier way Ethiopia is developing at a VERY fast pace(even with the dictatorship) and I seen this first hand. Your only true points are Angola and especially Nigeria.
loyola llothta
☭☭☭
another L
DrBanneker
Space is the Place
Nah, I am actually AA. However, Zim holds a special place in my heart since when I was a teenager and became really interested in Africa, Zim was the first country I really read in-depth on and is probably one of those whose history I know best.
Mnangagwa’s task: Rebuild Zimbabwe’s economy from ground zero
When Emmerson Mnangagwa takes over from Robert Mugabe as Zimbabwe’s president on Friday, he’ll inherit an economic wasteland that will take years and a complete reversal of some of the government’s signature policies to set right.
Among Mnangagwa’s key challenges will be to revive an agricultural industry that collapsed following the Mugabe-sanctioned seizure of mostly white-owned commercial farms starting in 2000, unlock investment in the mining industry by clarifying so-called indigenization laws that force companies to sell or transfer 51% stakes to black Zimbabweans and reestablish international credit lines.
“The quicker policy credibility is established, the more foreign capital starts flowing,” said Hasnain Malik, head of equity research at Exotix Capital in Dubai. “Many of the ingredients of a great frontier market are in place in Zimbabwe. While there is much to be done on the government wage bill, recapitalisation of the economy and the banking system, the starting point for investor expectations is very low.”
Mnangagwa’s ascension to the presidency follows the 93-year-old Mugabe’s decision to quit Tuesday under threat of impeachment from his own party. While the former intelligence chief has been part of Mugabe’s inner circle ever since he took power when white-minority rule ended in 1980, he and his faction within the ruling Zimbabwe African National Union-Patriotic Front have signalled that they plan to run the country’s finances differently.
Change is desperately needed. The economy is half the size it was in 2000, and has slipped from being one of the 10 biggest in sub-Saharan Africa to number 20. Formal jobs outside the government are virtually non-existent, there are chronic cash shortages and roads and other public infrastructure have crumbled. Many of the best-educated Zimbabweans have moved to neighbouring South Africa and the U.K., leaving the country with limited expertise to rebuild.
With an economy that relies mainly on the dollar after it abandoned its own currency in 2009 due to hyperinflation, the cash scarcity is so severe that people sleep in the streets near banks to ensure they can make withdrawals, which are limited to as little as $20 a day.
Farmland
The often-violent seizure of about 4,500 white-owned farms to redistribute to black subsistence farmers in a land-reform program that human-rights groups slammed led to a slump in the exports of tobacco, the nation’s biggest foreign-currency earner at the time.
“We are now looking at a new Zanu-PF,” Harare-based independent economist John Robertson said by phone. “Mnangagwa fully recognises the need for land to be on the market place and the recognition of property rights. The problem is that his voice was being drowned out by Mugabe. When Mugabe made a policy decision or choice, he wouldn’t allow anybody to challenge it and nobody had the courage to.”
Empowerment Laws
Mark Bohlund, Africa economist with Bloomberg Economics in London, isn’t convinced the empowerment laws will be changed, even though the move would go a long way toward attracting investment.
“The new power-brokers may wish to retain majority control of companies,” he said.
The greatest potential for Zimbabwe to attract foreign investment probably lies in its rich mineral endowment. It has the world’s second-largest platinum reserves after South Africa, and also has chrome, coal, nickel and diamond deposits. Impala Platinum Holdings, Anglo American Platinum, Aquarius Platinum, and Sinosteel’s Zimasco, Metallon and Caledonia Mining are among the mining companies with operations in the country.
Besides legal certainty, investors will also probably want to see the new administration make it easier to do business and clamp down on corruption, according to Charles Robertson, head of macro strategy at Renaissance Capital.
“A significant political change could make a big positive difference,” he said in emailed comments.
Foreign Loans
In addition to targeting foreign investment, a new administration may also look to reviving talks that former Finance Minister Patrick Chinamasa initiated with the African Export-Import Bank to secure $1.7 billion in loans. The money, which would be used to clear Zimbabwe’s arrears with the International Monetary Fund and World Bank, would open up new avenues to obtain financing that could in turn help ease currency shortages and give foreign investors the option of repatriating their funds.
“Foreign equity investors will likely move back in as soon as they can get comfortable that there are sufficient dollars in the system to facilitate repatriation,” Malik said.
Mnangagwa would go a long way toward restoring confidence among investors and lenders by including members of the opposition in his administration, according to Steven Gruzd, head of the South African Institute of International Affairs’ governance program.
“We’ve seen this before — when new leaders come in even if they are from the same party they do create their own policies and programs,” Gruzd said. “I hope he would take the opportunity to be a reformer and bring some stability and prosperity to a country that suffered.”
Mnangagwa’s task: Rebuild Zimbabwe’s economy from ground zero
When Emmerson Mnangagwa takes over from Robert Mugabe as Zimbabwe’s president on Friday, he’ll inherit an economic wasteland that will take years and a complete reversal of some of the government’s signature policies to set right.
Among Mnangagwa’s key challenges will be to revive an agricultural industry that collapsed following the Mugabe-sanctioned seizure of mostly white-owned commercial farms starting in 2000, unlock investment in the mining industry by clarifying so-called indigenization laws that force companies to sell or transfer 51% stakes to black Zimbabweans and reestablish international credit lines.
“The quicker policy credibility is established, the more foreign capital starts flowing,” said Hasnain Malik, head of equity research at Exotix Capital in Dubai. “Many of the ingredients of a great frontier market are in place in Zimbabwe. While there is much to be done on the government wage bill, recapitalisation of the economy and the banking system, the starting point for investor expectations is very low.”
Mnangagwa’s ascension to the presidency follows the 93-year-old Mugabe’s decision to quit Tuesday under threat of impeachment from his own party. While the former intelligence chief has been part of Mugabe’s inner circle ever since he took power when white-minority rule ended in 1980, he and his faction within the ruling Zimbabwe African National Union-Patriotic Front have signalled that they plan to run the country’s finances differently.
Change is desperately needed. The economy is half the size it was in 2000, and has slipped from being one of the 10 biggest in sub-Saharan Africa to number 20. Formal jobs outside the government are virtually non-existent, there are chronic cash shortages and roads and other public infrastructure have crumbled. Many of the best-educated Zimbabweans have moved to neighbouring South Africa and the U.K., leaving the country with limited expertise to rebuild.
With an economy that relies mainly on the dollar after it abandoned its own currency in 2009 due to hyperinflation, the cash scarcity is so severe that people sleep in the streets near banks to ensure they can make withdrawals, which are limited to as little as $20 a day.
Farmland
The often-violent seizure of about 4,500 white-owned farms to redistribute to black subsistence farmers in a land-reform program that human-rights groups slammed led to a slump in the exports of tobacco, the nation’s biggest foreign-currency earner at the time.
“We are now looking at a new Zanu-PF,” Harare-based independent economist John Robertson said by phone. “Mnangagwa fully recognises the need for land to be on the market place and the recognition of property rights. The problem is that his voice was being drowned out by Mugabe. When Mugabe made a policy decision or choice, he wouldn’t allow anybody to challenge it and nobody had the courage to.”
Empowerment Laws
Mark Bohlund, Africa economist with Bloomberg Economics in London, isn’t convinced the empowerment laws will be changed, even though the move would go a long way toward attracting investment.
“The new power-brokers may wish to retain majority control of companies,” he said.
The greatest potential for Zimbabwe to attract foreign investment probably lies in its rich mineral endowment. It has the world’s second-largest platinum reserves after South Africa, and also has chrome, coal, nickel and diamond deposits. Impala Platinum Holdings, Anglo American Platinum, Aquarius Platinum, and Sinosteel’s Zimasco, Metallon and Caledonia Mining are among the mining companies with operations in the country.
Besides legal certainty, investors will also probably want to see the new administration make it easier to do business and clamp down on corruption, according to Charles Robertson, head of macro strategy at Renaissance Capital.
“A significant political change could make a big positive difference,” he said in emailed comments.
Foreign Loans
In addition to targeting foreign investment, a new administration may also look to reviving talks that former Finance Minister Patrick Chinamasa initiated with the African Export-Import Bank to secure $1.7 billion in loans. The money, which would be used to clear Zimbabwe’s arrears with the International Monetary Fund and World Bank, would open up new avenues to obtain financing that could in turn help ease currency shortages and give foreign investors the option of repatriating their funds.
“Foreign equity investors will likely move back in as soon as they can get comfortable that there are sufficient dollars in the system to facilitate repatriation,” Malik said.
Mnangagwa would go a long way toward restoring confidence among investors and lenders by including members of the opposition in his administration, according to Steven Gruzd, head of the South African Institute of International Affairs’ governance program.
“We’ve seen this before — when new leaders come in even if they are from the same party they do create their own policies and programs,” Gruzd said. “I hope he would take the opportunity to be a reformer and bring some stability and prosperity to a country that suffered.”
Mnangagwa’s task: Rebuild Zimbabwe’s economy from ground zero
Queen with the phone is 