According to some statistics, the once booming economy now consists of 90 percent people who are unemployed.

Commentators have mostly blamed former President Robert Mugabe for Zimbabwe's poor economy.

Mnangagwa told his supporters, "We want to grow our economy, we want peace, we want jobs, jobs, jobs."

In his 20-minute long speech, the new President said that several attempts were made to assassinate him and also thanked the country's military for intervening and removing Mugabe 'smoothly'.

Nicknamed the 'crocodile'for his political shrewdness, Mnangagwa, 71, would serve as the President for the rest of Mugabe's term, which is due to end in Sept 2018.

The ruling Zanu PF party is likely to name him their presidential candidate for the next elections.

Meanwhile, during his address, he also brought up Grace Mugabe's speech, stinging the former First Lady.

"I wonder which snake's head was crushed?" he said as his supporters cheers on.

He was referring to Grace Mugabe's speech in which she had said spoken about 'dealing with the snake by crushing its head', a day before Mnangagwa, the then Vice President, was sacked.

Zimbabwe politics witnessed an unprecedented turmoil following the move by Robert Mugabe.

The 93-year-old had done so to facilitate his wife and give wings to her presidential aspirations.

However, the military stepped in and placed Mugabe and his wife under house arrest.

Later, the ruling party too started an impeachment process to remove Mugabe but was stopped abruptly after the latter resigned through a letter, following much drama.

Mugabe's resignation was met with loud cheers from Zimbabweans, who partied late night in the national capital. 

Image: twitter.com/HonMnangagwa