Zimbabwe's former president Robert Mugabe was granted immunity from prosecution and assured of protection in his home country as part of a deal that led to his resignation, sources close to the negotiations said on Thursday.
Mr Mugabe, who had led Zimbabwe from independence in 1980, stepped down on Tuesday after the army seized power and his own ruling party turned against him. Emmerson Mnangagwa, the former vice president sacked by Mr Mugabe earlier this month, is set to be sworn in as president on Friday.
A government source said 93-year-old Mr Mugabe told negotiators he wanted to die in Zimbabwe and had no plans to live in exile.
"It was very emotional for him and he was forceful about it," said the source. "For him it was very important that he be guaranteed security to stay in the country … although that will not stop him from travelling abroad when he wants to or has to."
Mr Mugabe resigned on Tuesday as parliament began a process to impeach him, sparking wild celebrations in the streets. His rapid downfall after 37 years in power was triggered by a battle to succeed him that pitted Mr Mnangagwa against Mr Mugabe's wife Grace, who is 40 years his junior.
"The outgoing president is obviously aware of the public hostility to his wife, the anger in some circles about the manner in which she conducted herself and approached ZANU-PF party politics," a second source said. "In that regard, it became necessary to also assure him that his whole family, including the wife, would be safe and secure."
Mr Mugabe had clung on to power precariously for a week after the military intervened. He angered many Zimbabweans when he did not resign in a televised national address on Sunday as many had anticipated. But the tipping point for him was the realisation that he would be impeached and ousted in an undignified way.
"When the process started, he then realised he had lost the party," the source said.
Mr Mugabe will receive a retirement package that includes a pension, housing, holiday and transport allowance, health insurance, limited air travel and security in accordance with Zimbabwean law.
The source said the ageing former president was "rugged and drained" by events of the past week and may travel to Singapore for medical checks in the coming week. He had been due to leave for Singapore in mid-November before the military put him under house arrest.
MEET THE NEW BOSS
Meanwhile, the new leader has promised a new age of democracy. Emmerson Mnangagwa returned to the country on Wednesday, having fled for his safety when Mr Mugabe sacked him as vice president two weeks ago to smooth a path to the succession for Grace.
"The people have spoken. The voice of the people is the voice of God," Mr Mnangagwa told thousands of supporters gathered outside the offices of the ruling ZANU-PF party in the capital, Harare.
The army appears to have engineered a trouble-free path to power for Mr Mnangagwa, who was for decades a faithful lieutenant of Mr Mugabe and member of his elite. His own human rights record also stirs hostility in many Zimbabweans. He was in charge of internal security at a time when 20,000 civilians were killed in the 1980, according to human rights groups.
Restoring the country's fortunes and international standing will be a challenge. Human rights abuses and flawed elections prompted many Western countries to impose sanctions in the early 2000s that further hurt the economy, even with Chinese investment to soften the blow. Staging clean elections next year will be key to winning new cash injections.
Zimbabwe was once one of Africa's most promising economies but suffered decades of decline as Mr Mugabe pursued policies that included the violent seizure of white-owned commercial farms and money-printing that led to hyperinflation. Most of the country's 16 million people remain poor and face currency shortages and sky-high unemployment — which Mr Mnangagwa promised to address.
A senior International Monetary Fund official said Zimbabwe's economic situation remained "very difficult" as sustainable growth is threatened by high government spending, an untenable foreign exchange regime and inadequate reforms
"Immediate action is critical to reduce the deficit to a sustainable level, accelerate structural reforms, and re-engage with the international community to access much needed financial support," said Gene Leon, IMF's mission chief for Zimbabwe.
The military is reporting "no violation of constitutional processes" in an update on its operation that led the resignation of Robert Mugabe, and has praised Zimbabweans for behaving well in their demonstrations calling for Mr Mugabe's departure and welcoming incoming leader Mr Mnangagwa.
In a statement, the military said it looks forward to "another massive gathering" for the inauguration, which the ruling party has announced will be at the 60,000-seater National Sports Stadium in the capital, Harare.
Zimbabwe's opposition party MDC-T, which supported Mr Mugabe's removal from office, says it is "cautiously optimistic" that the incoming leader "will not mimic and replicate the evil, corrupt, decadent and incompetent Mugabe regime." But the opposition will be watching Mr Mnangagwa's next moves closely, "particularly regarding the dismantling of all the oppressive pillars of repression and oppression that had been put in place by the outgoing Mugabe regime," said spokesman Obert Gutu.
By the time elections are held next year, "the electoral playing field should have been completely evened up, " he added.
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
It
Director: Andres Muschietti
Starring: Bill Skarsgard, Jaeden Lieberher, Sophia Lillis, Chosen Jacobs, Jeremy Ray Taylor
Three stars
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
More coverage from the Future Forum
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Anna and the Apocalypse
Director: John McPhail
Starring: Ella Hunt, Malcolm Cumming, Mark Benton
Three stars
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
JOKE'S%20ON%20YOU
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SPEC SHEET
Display: 6.8" edge quad-HD dynamic Amoled 2X, Infinity-O, 3088 x 1440, 500ppi, HDR10 , 120Hz
Processor: 4nm Snapdragon 8 Gen 1/Exynos 2200, 8-core
Memory: 8/12GB RAM
Storage: 128/256/512GB/1TB
Platform: Android 12
Main camera: quad 12MP ultra-wide f/2.2, 108MP wide f/1.8, 10MP telephoto f/4.9, 10MP telephoto 2.4; Space Zoom up to 100x, auto HDR, expert RAW
Video: 8K@24fps, 4K@60fps, full-HD@60fps, HD@30fps, super slo-mo@960fps
Front camera: 40MP f/2.2
Battery: 5000mAh, fast wireless charging 2.0 Wireless PowerShare
Connectivity: 5G, Wi-Fi, Bluetooth 5.2, NFC
I/O: USB-C
SIM: single nano, or nano and SIM, nano and nano, eSIM/nano and nano
Colours: burgundy, green, phantom black, phantom white, graphite, sky blue, red
Price: Dh4,699 for 128GB, Dh5,099 for 256GB, Dh5,499 for 512GB; 1TB unavailable in the UAE
CHELSEA SQUAD
Arrizabalaga, Bettinelli, Rudiger, Christensen, Silva, Chalobah, Sarr, Azpilicueta, James, Kenedy, Alonso, Jorginho, Kante, Kovacic, Saul, Barkley, Ziyech, Pulisic, Mount, Hudson-Odoi, Werner, Havertz, Lukaku.
