Emmerson Mnangagwa was sworn in on Friday at the national sports stadium in Harare as the second president of Zimbabwe since the country's independence from white minority rule in 1980.

Mnangagwa, the former vice president fired by ex-president Robert Mugabe, took to the stage wearing a dark suit, red tie and matching handkerchief, and a row of medals on his chest for the presidential inauguration ceremony being held in the stadium packed with thousands of supporters, in what marks the final chapter of a political drama that toppled his predecessor Robert Mugabe after a military takeover.

A handful of regional heads of state attended the inauguration, including the leaders of Botswana, Mozambique and Zambia. The president of regional powerhouse South Africa did not attend because President Jacob Zuma is hosting Angola's new leader for talks.

Snipers took up positions around the stadium amid tight security as jubilant Mnangagwa supporters streamed in, with many dancing as music played.

He is expected to serve until the end of the presidential term next year. An election date has not yet been set.

'The Crocodile'

Mnangagwa is poised to lead after the resignation of 93-year-old Mugabe, who succumbed to pressure to quit from the military, the ruling party and massive demonstrations.

A former justice and defence minister, Mnangagwa was a key Mugabe confidant for decades until they fell out because of the presidential ambitions of Mugabe's wife, Grace.

Despite his long association with the government that has presided over Zimbabwe's decline, including economic collapse and human rights abuses, Mnangagwa has promised democracy and reached out to other countries for help.

The new president is known as "The Crocodile" for his ruthlessness and is accused of overseeing ethnic massacres by the army in the 1980s and the 2008 election violence when Mugabe was at risk of losing the vote.

Mugabe was the world's oldest head of state when he quit earlier this week.

In the end, he was isolated and showing few of the political skills that kept him in power for 37 years and made him a prominent but polarising figure on the world stage.

Mugabe will not attend the swearing-in, and ruling party officials said he would remain in Zimbabwe with their promise that he is “safe” and his legacy as a “hero” will stand after his fight for an independent Zimbabwe.

Zimbabwe's state-run Herald newspaper reported that Mnangagwa has assured Mugabe and his family of their “maximum security” as they remain in the country.

The report says they agreed Mugabe would not attend Friday's ceremony because he “needed time to rest.”

'Expecting a lot from Mnangagwa'

Even before the new leader took oath, he was facing calls for inclusion and free and fair elections next year.

"We are excited and expecting a lot from Mnangagwa. We have been under a dictatorship for a very long time," 23-year-old Sharon Mauyakufa said, referring to Mugabe.

"Mugabe is very old ─ we do not expect that he will be punished for his crimes. How do you punish a 93-year-old? But his wife and others must be charged if they committed crimes."

Tendai Lesayo held a small Zimbabwean flag as she sold drinks from a cooler outside the stadium. She said she would welcome a fresh start, saying "life now is impossible."

Elsewhere in the capital, long lines formed outside banks, a common sight in a nation struggling with cash shortages and other severe economic problems that the new president will have to confront.

"Right now, nothing has really changed for me. I still cannot get my money from the bank," said Amon Mutora, who had been in line since 6am.

"Attending the inauguration will not bring food for my family," said Kelvin Fungai, a 19-year-old selling bananas from a cart.

Elsewhere, there were signs of hope amid the uncertainty. Black market rates for cash have tumbled since Mugabe left office. Before he stepped down, one had to deposit $170 into a black market dealer's bank account to get $100 cash.

On Friday, $100 cash was selling for between $140 and $150.

As the inauguration crowds streamed by, Sharon Samuriwo sat on a ledge, watching.

She said she hoped Mnangagwa would learn from the errors of his predecessor, though she acknowledged that the path ahead for Zimbabwe is unknown.

Still, "after 37 years, we've got someone different."

Banners erected in the stadium read "Dawn of a new era" and "No to retribution", even as human rights activists began to report worrying details of attacks on allies of the former first lady and their families.