The curtain is about to drawn over the 37-year reign of President Robert Mugabe of Zimbabwe.

An official source with direct knowledge of negotiations has revealed that Mugabe has agreed to the terms of his resignation and a letter has been drafted.

The source said that the generals had given into many of Mugabe's demands including full immunity for himself and his wife Grace, and that he would keep his private properties.

According to the source, the aim of Sunday's televised address in which Mugabe appeared to resist calls to step aside was to ensure the veteran leader openly declared the military's actions to be constitutional.

ALSO READ: Ruling Party Sacks Mugabe

For the resignation to formally take place, however, a letter must first be sent to the speaker of Parliament, added the source.

Mugabe had stunned the nation on Sunday when he refused to say in a live televised address if he was stepping down.

His party had given Mugabe, who has been under house arrest since the military seized power, 24 hours to resign or be impeached. On Saturday, thousands of Zimbabweans had taken to the streets calling for him to go.

But in a bizarre and rambling speech, Mugabe instead insisted he was going nowhere, and that he would see his political party Zanu-PF through its congress in a few weeks.

FOR MORE FRESH STORIES, DOWNLOAD BOUNCE NEWS APP HERE

ALSO WATCH: Highlights From #AnambraDecides2017