Key View

• Indian and MENA-based drugmakers are well-positioned to increase their presence in Zimbabwe's pharmaceutical market.
• The country's pharmaceutical trade deficit is expected to persist due to long-standing challenges in domestic manufacturing.
• Cyclone Idai has exposed the Zimbabwe's reliance on foreign donations to cover its healthcare

Key View

• We expect that government demand for goods imports will increase over the coming quarters following damage to domestic crops and infrastructure caused by Cyclone Idai.
• Moreover, dry weather conditions and power outages lasting up to 10 hours a day will weigh on the country’s key export sectors of mining and tobacco.
• Against this

The Latest: Consumer price inflation in Zimbabwe accelerated to 31.01% y-o-y in November, from 20.85% the previous month. On a month-on-month basis, prices increased by 9.20% in November, down from 16.44% in October, although there is persistent speculation that the official figures understate the true levels of price increases.

Implications: The

Key View

• Zimbabwe's bleak external position will continue to weigh on the economy over the coming quarters.
• The current account will remain in deficit as rising oil prices and falling remittances in USD dollar terms will offset rising exports revenues.
• Investment flows are unlikely to pick up rapidly following a volatile election period. A

Key View: The election of Emmerson Mnangagwa as President of Zimbabwe presents growing upside risks to growth in the country's mining industry over the coming years. However, we are holding off on revising the country's production forecasts until proposed reforms materialise.

The election of Emmerson Mnangagwa as President of Zimbabwe on July 30

While ZANU-PF (Zimbabwe African National Union- Patriotic Front) appears to have won Zimbabwe's July 30 legislative election, the presidential election results have yet to be released, heightening uncertainty and unrest across the country.

• With both President Emmerson Mnangagwa (ZANU-PF) and Nelson Chamisa - leader of the main opposition

Key View:

• Zimbabwe's general election is likely to deliver a victory for incumbent President Emmerson Mnangagwa.
• A democratically elected Mnangagwa administration is likely to push forward with much-needed structural reforms and bring Zimbabwe out of international isolation.
• The government's ability to support healthcare provision will remain

Key View: Incumbent Zimbabwean President Emmerson Mnangagwa is likely to retain his office in the country's upcoming general election on July 30, presaging a period of political stability and economic reform. While many of the government's senior officials are carryovers from the ousted Mugabe regime, a democratically elected Mnangagwa