Former Zimbabwe Finance minister Dr Simba Makoni has broken with the ranks of the ruling Zanu PF party and thrown his hat into the presidential race.

Simba Makoni Running For Presidency Against Robert Mugabe

"I have accepted the call and hereby advise the people of Zimbabwe that I offer myself as a candidate for the office of President of Zimbabwe in the forthcoming elections," Makoni, who turns 58 on March 26, told a news conference.

Makoni’s move – the first ever challenge to President Robert Mugabe’s long reign - is the first ever indication that all is not well in the ruling Zanu PF party, which has for long denied there are fractures among its ranks.

Zimbabwe goes to the polls on March 29 in a poll which will see parliamentary, local government, senatorial and the big one – the presidency – up for the taking.

Makoni - who is regarded as a reform-minded technocrat - has in the past month been a victim of rumours that he would be entering the race to challenge Zimbabwe’s 83 year old Robert Mugabe, who has been president of the country since independent from Britain in 1980. Mugabe turns 84 on February 14.

The independent press has been writing that some party stalwarts would launch a rival party to challenge Mugabe, 83, who is accused by critics of wrecking the southern African country's once promising economy.

Zimbabwe's private press have reported Makoni was backed by a faction led by retired army general and Zanu-PF politburo member Solomon Mujuru, husband of Vice President Joyce Mujuru.

"I know I will not be in this campaign alone, there will be many of us, a great many of us in this campaign," Makoni said.

For years, Makoni -- who is regarded as a reform-minded technocrat -- has been touted as a possible successor to Mugabe. His critics say he is a political lightweight who does not have the stamina to fight one of Africa's most combative leaders.

Analysts say shortages of food, foreign currency, fuel and the world's highest inflation rate officially pegged at 26,000 percent present the biggest challenge to Mugabe's rule.

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