First Take SA

New Zimbabwean President Emmerson Mnangagwa has emphasized that his first task will be to revive the ailing economy of his country. Mnangagwa was officially sworn in as the 3rd President Of Zimbabwe. This follows the resignation of former President Robert Mugabe earlier this week, after being at the helm for 37 years. Benjamin Moshatama spoke to Isaac Khomo, a journalist at Channel Africa.

This week Parliament passed the bill that paves the way for the health promotions levy (formerly called the sugar tax) to become law and will come into effect on 1 April 2018. A task team will monitor the implementation of the health promotion levy to assess its effectiveness.
Benjamin Moshatama spoke to Treasury's Deputy Director-General on Tax and Financial Sector Policy, Ismail Momoniat

The National Credit Regulator (NCR) has advised consumers to avoid getting caught by sales gimmicks and approach Black Friday offers with a level head. The common American tradition of extremely low prices in stores has become popular in South Africa as customers prepare for the festive. The Credit Regulator says consumers should not give in to "impulse buying and avoid being tempted by the flood of advertisements in the media". Benjamin Moshatama spoke to Mpho Ramapala, Manager of Education and Communication at the NCR.

The South African Reserve Bank has decided to keep the interest rate unchanged at 6.75% per annum. Announcing the decision on the repo rate this afternoon in Pretoria, Governor Lesetja Kganyago added that the prime lending rate will also remain at 10.25%. Benjamin Moshatama spoke to Jana van Deventer, the Head of Financial Markets at ETM Analytics

Two Civil Society Organisations, African Monitor and the Economic Justice Network, are currently hosting a three-day media briefing on Illicit Financial Flows. South Africa has seen a surge In illicit financial flows and money laundering, especially in the mining sector. It is estimated that billions leave the country annually. Tsepiso Makwetla spoke to Namhla Mniki-Mangaliso, who is the Director at African Monitor.

A 500-year-old painting of Christ believed to have been painted by Leonardo da Vinci has been sold in New York for a record 450 million US dollars. The painting is known as Salvator Mundi (Saviour of the World). It is the highest auction price for any work of art and brought cheers and applause at the packed Christie's auction room. Leonardo da Vinci died in 1519 and there are fewer than 20 of his paintings in existence. Tsepiso Makwetla spoke to Alastair Meredith, art specialist at Strauss and Company

Residents in some parts of Johannesburg may have to wait longer for water to be fully restored. This comes as Joburg Water continues to repair pipes about 35 metres deep. Parts of Joburg that have been without water since yesterday morning include: Sandton, Bryanston, Douglasdale, Witkoppen, Fourways, Lonehill and Broadacres, among others. Tsepiso Makwetla spoke to Joburg Water spokesperson, Isaac Dhludhlu

The speaker of parliament in Zimbabwe has officially announced that former Vice President Emmerson Mnangagwa will be sworn in on Friday. Zimbabwean President Robert Mugabe stepped down from his position yesterday, following mounting pressure from the people of his country and political parties. Tsepiso Makwetla spoke to our reporter In Harare, Mbali Sibanyoni and human rights lawyer, Nqobizitha Mlilo

Africa's overall governance methods remain positive on average, but in recent years has moved at a slower pace. This is according to the Mo Ibrahim Foundation which released its 2017 Ibrahim Index of African Governance this week. South Africa retained its 6th position scoring 70% in overall governance out of the all the 54 African countries assessed but there is still room for improvement. Tsepiso Makwetla spoke to Mo Ibrahim Foundation board member Jay Naidoo

The High Court in Pretoria has reserved judgement in the matter where Corruption Watch and Freedom Under Law are challenging former NPA Mxolisi Nxasana's R17 million golden handshake. Nxasana's lawyers are arguing that he was forced out of office and he wants his job back. After listening for arguments since Monday, the full bench led by Judge President, Dunstan Mlambo, asked the disputing parties to submit to his office possible written solution to the matter not later than this coming Thursday. Mlambo says those submissions will assist the court to arrive at a satisfactory verdict. Tsepiso Makwetla spoke to our reporter, Neo Makwiting.