Zimbabwe declared Robert Mugabe a national hero on Friday, President Emmerson Mnangagwa said, and the country would be in national mourning until the former leader was buried.
Mugabe, who ruled the southern African nation for nearly four decades, died in a Singapore hospital on Friday aged 95.
Zimbabwe's longtime president Robert Mugabe has died. He was 95. Mugabe's death was announced by the office of Zimbabwe's president.
Mugabe came to power at independence from Britain in 1980, after a guerrilla war ended white-minority rule in then-Rhodesia. He was heralded as a model leader — but that image steadily eroded over time as his leadership became more authoritarian. Democracy, the rule of law and the economy suffered.
The start of a new era
When Robert Mugabe took the oath of office in April 1980, there were high hopes for Africa's newest nation. He was hailed as a pragmatic African leader.
Representing Queen Elizabeth II, Prince Charles echoed a feeling shared around the globe when he said, "Today is a moment of immense historic significance, a rare occasion in lives of nations, where a new and greater beginning is possible, which we must not allow to fail."
Robert Gabriel Mugabe was born in 1924 in Zvimba, southwest of the capital (which was then called Salisbury, and is now Harare).
Educated by Jesuit priests, he became a teacher before joining the liberation struggle. Mugabe, the intellectual — with his many academic degrees — was considered the political leader and the brains behind the guerrilla war, and was imprisoned for 11 years.
Mugabe preached a message of harmony and promised to pursue a policy of inclusion for all Zimbabweans. In 1980, he said, "The phase we are entering, the phase of independence should be regarded as a phase conferring upon all of us — the people of Zimbabwe — whether we are black or white — full sovereignty, full democratic rights."
From optimism to violence
Fast-forward 20 years and the flowering of an opposition movement. Mugabe tasted defeat for the first time in 2000, in a referendum on constitutional reform. The situation soured.
That same year, he encouraged the often violent seizure of thousands of flourishing, white-owned industrial farms. Gone was Zimbabwe's reputation as the breadbasket of southern Africa.
Mugabe blamed the nation's woes on the British and Zimbabwe's white farmers, who openly supported the new opposition Movement for Democratic Change, the MDC party.
"The MDC opposition, formed at the behest of Britain in 1999, is now on an evil crusade of dividing our people on political lines," Mugabe said at the time, "as they continue to fan and sponsor heinous acts of political violence, targeting innocent citizens."
But pro-Mugabe political thugs were accused of muzzling the opposition, using brutal tactics. Criticized for rigging earlier votes, the president lost the first round of elections in 2008. But, before the second round, Mugabe's militants — and loyalists within the security services — unleashed a wave of violence, leaving an estimated 200 people dead.
The opposition leader, Morgan Tsvangirai, pulled out of the runoff, and Mugabe cruised to victory. But he ruled over a diminished Zimbabwe. The U.S. and the European Union had already imposed sanctions on his inner circle. Mugabe tore into then-British prime minister, Tony Blair.
"We belong to this continent, Africa. We don't mind having and bearing sanctions banning us from Europe. We are not Europeans," Mugabe said. "We have not asked for any inch of Europe. ... So, Blair — keep your England and let me keep my Zimbabwe."
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Home Equity Loan vs HELOC: Which One Is Better?
Homeowners who have built equity may be able to borrow against their home. Two common options are a home equity loan and a home equity line of credit, also called a HELOC.
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A home equity loan gives you a lump sum of money with a fixed interest rate and fixed monthly payments. This can be useful for one-time expenses such as home renovations, medical bills, debt consolidation, or major repairs.
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A HELOC works more like a credit card. You get access to a credit line and can borrow as needed during the draw period. HELOCs often have variable interest rates, which means your payment can change over time.
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The best choice depends on your needs. If you know exactly how much money you need and want predictable payments, a home equity loan may be better. If you want flexibility and do not need all the money at once, a HELOC may be a better fit.
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Both options use your home as collateral. This means if you cannot repay the loan, your home could be at risk. That is why you should borrow carefully.
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Home equity financing may be used for home improvements, which can increase property value. However, using home equity for vacations, luxury purchases, or short-term spending can be risky.
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Before applying, compare interest rates, fees, repayment terms, minimum payments, and closing costs. Also ask whether the rate is fixed or variable.
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Your credit score, income, debt, home value, and available equity will affect approval.
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A home equity loan and HELOC can both be powerful financial tools, but they should be used responsibly. The right choice depends on whether you need stability, flexibility, or a combination of both.
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Debt Consolidation Loans for Credit Card Debt
Debt Consolidation Loans: Pros and Cons
Debt consolidation loans allow borrowers to combine multiple debts into one monthly payment. Many people use them to consolidate credit card debt and reduce high interest charges.
A debt consolidation loan may simplify your finances by replacing several payments with one fixed payment.
Benefits of Consolidation
The main benefit is convenience. You may also qualify for a lower interest rate, which can reduce total interest costs. Fixed payments can make budgeting easier.
Risks to Consider
Debt consolidation does not solve spending problems. If you pay off credit cards and then run them up again, you may end up with more debt.
Some loans also include fees, so it is important to compare total cost.
Conclusion
Debt consolidation loans can be useful when used responsibly. Compare rates, fees, terms, and monthly payments before applying.
