After Mugabe: Political and Commercial Outlook for Mining Investors in Zimbabwe
Robert Mugabe’s ouster as Zimbabwe’s president and his replacement with Emmerson Mnangagwa have raised hopes of Zimbabwe’s emergence out of international isolation and a new dawn for its minerals sector. However, the country’s political and economic outlook remains precarious. The elections that will be held in July will likely generate continued instability while the economic situation following years of government mismanagement remains dire. The reforms promised by Mnangagwa, including privatization of inefficient state-owned firms and bond issuance securitized by the country’s mineral wealth may be over-ambitious and resisted by powerful vested interests. Zimbabwe may be more “open for business” than last year, but mineral investors will be wise to expect a rocky political and commercial environment in the coming years.
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