Mnangagwa was sacked by President Robert Mugabe, who tendered his resignation on Tuesday.
Mugabe had accused Mnangagwa of disloyalty and insubordination.
Plans to force Mugabe out of power was intensified after Mnangagwa was sacked - the military moved in on the 93-year-old leader last week, placing him on house rest.
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The military action was the beginning of the end of the Mugabe era.
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It was believed that Mugabe fired Mnangagwa to pave way for his wife, Grace, to emerge as the new leader of ruling Zanu-PF ahead of the country's general election in 2018.
Upon his removal, Mnangagwa, 75, was in exile for 13 days.
He is said to be popular amongst the powerful War Veterans group and the Zimbabwean military chiefs.