trending Market Intelligence /marketintelligence/en/news-insights/trending/WaUsxdCo4egTiQQTJZEHBA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Zimbabwe's Mugabe quits as president

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

Online Brokerage Space Should Remain Rich Source Of M&A

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Zimbabwe's Mugabe quits as president

Zimbabwean President Robert Mugabe has stepped down amid military pressure and after the country's parliament started an impeachment process against him, the Associated Press reported.

The parliament's speaker announced Mugabe's resignation and stopped the impeachment proceedings, saying they had received a letter from the president indicating that his resignation was "with immediate effect."

Mugabe said he was resigning in order to have a "smooth transfer of power" after 37 years at the helm, according to the AP.

The country's military generals previously gave Mugabe until Nov. 20 to quit his post after he was removed as the leader of Zimbabwe's ruling party, ZANU-PF, earlier on Nov. 19.

The military took control of the country last week after Mugabe fired Vice President Emmerson Mnangagwa, in what was seen as a move to open a path for first lady Grace Mugabe to take over from her 93-year-old husband.