A “jovial” Robert Mugabe is “taking things very well” five days after stepping down as president of Zimbabwe after 37 years in power, close associates and relatives have said.

Gideon Golo, the former central bank governor and the former president’s business adviser, said Mugabe was in good spirits when he last saw him on the morning before the inauguration of the country’s new leader, Emmerson Mnangagwa, on Friday.

Mugabe was forced to resign by a military takeover, which led to popular protests and impeachment in parliament, but only after negotiating a deal that guaranteed immunity from prosecution, protection for his business interests, and a $10m (£75,000) cash sum. The same protection is extended to his family members and relatives.

Mugabe, 93, will also keep his salary of $150,000. His wife, 52-year-old Grace, will receive half after his death.

“He is fine. I have been to see him; he is quite jovial. He is actually looking forward to his new life, farming and staying at the rural home. He has taken it well,” Leo Mugabe, a nephew, said.

The former first lady was now concentrating on plans to build a university in his honour.

“I like the spirit she has … she is with him all the time. She is an amazing person. She wants to continue planning the Robert Mugabe University so they have something to do,” he said.

In August, Zimbabwe announced plans to build the $1bn postgraduate university in Mazowe, 20 miles (35km) outside Harare.

The plan drew fierce criticism. Mugabe’s rule left Zimbabwe with a worthless currency, vast debts and a devastated infrastructure.

One local Zimbabwean newspaper reported that the ageing autocrat wept as he signed his resignation letter last Tuesday.