After being denounced for years for its dictatorship and destructive economic policies, Zimbabwe entered a new chapter in November 2017, following the military’s removal of president Robert Mugabe, who ruled the country for 37 years. Mugabe’s ouster and replacement with his one-time deputy, Emmerson Mnangagwa, was the most significant development in the Southern African nation since it gained independence from Britain in 1980.
What Investors Need to Know About Zimbabwe After Mugabe
The country’s future may hinge on much-needed reforms.
December 28, 2017
Summary.
Zimbabwe entered a new chapter in November 2017, following the military’s removal of president Robert Mugabe, who ruled the country for 37 years. New leader Emmerson Mnangagwa is clear that he wants to rebuild the economy and start fresh with foreign businesses. This is promising for a market formerly dubbed the “breadbasket of Africa.” In this environment, multinationals that are willing to accept some risk and invest in the country could benefit from first-mover advantages – Zimbabwe still holds an attractive class of relatively wealthy consumers — but only if the new administration follows through with much-needed economic reforms.