Zimbabwe President Robert Mugabe on Wednesday signed a new constitution into law, paving the way for elections this year, dpa reported. The new constitution, which was overwhelmingly endorsed by Zimbabweans in a referendum in March, replaces the one drafted in 1979 on the eve of the African nation's independence. The 89-year-old Mugabe told delegates at the signing event that Zimbabwe would hold a peaceful election. The new constitution strengthens Parliament and offers modest reforms to basic rights. It does not prevent Mugabe from running for another term as head of the country he has governed since 1980. "We have shown that we can do it alone as Zimbabweans. Today is our day," said Mugabe, repeating his declaration that only Africans would be allowed to observe the elections. The issue of the observers has become a dispute between the president's Zanu-PF party and Prime Minister Morgan Tsvangirai's Movement for Democratic Change. The elections - due later this year - are set to end a fragile coalition government between Zanu-PF and the former opposition MDC, formed under pressure from neighbouring countries after the flawed election five years ago. The 2008 elections descended into widespread violence, leaving some 200 dead.