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THE WEEK AHEAD
MONDAY: Amway, the $7-billion direct-selling organisation which has its headquarters in the US and operates in 80 countries, opens in SA today. Similar launches in the Far East have netted 55 000 distributors in the first week and the group aims to have 10 000 local distributors in the first four weeks. Amway has been very successful, despite being dogged by negative publicity. It was founded in 1959 and its US catalogues boast 11 000 products, 400 of which it manufactures itself. It hopes to build up quickly in SA with these 400 brands before putting local products in the catalogue.
TUESDAY: The case between the KWV wine co-operative and Agriculture Minister Derek Hanekom will be heard in the Cape Supreme Court today. Earlier this year the court granted Hanekom leave to intervene in KWV's planned conversion into a public company, effectively placing an obstacle in its road to privatisation.
WEDNESDAY: Cosatu embarks on a series of 24-hour strikes this week in support of its demand for changes to the Basic Conditions of Employment Bill. The federation's 19 union affiliates will strike in the Eastern Cape on Monday, in KwaZulu-Natal and Mpumalanga on Tuesday, in Free State, Northern and Western Cape today and in the remaining provinces on Thursday. Previous work stoppages have yielded no results as far as changes to the Bill are concerned.
If the Bill is to be passed in this year's parliamentary session, it has to be ready to be signed by the cabinet today and must be tabled in parliament by September 15. To date, Labour Minister Tito Mboweni's efforts to bring business and labour together have come to naught.
THURSDAY: Wooltru is expected to release satisfactory annual results in Cape Town today amid a continued high level of credit spending by consumers. However, analysts will also be looking for further details of its restructuring, which will see the separate listing of its various retail interests, as well as its recent surprise acquisition of stationery group CNA.
Other financial results to be released this week include Kersaf, Norwich, Ingwe Coal and Siltek. The latter is of particular interest in assessing the impact of the Persetel, Q Data merger on Siltek.
FRIDAY: The formation of a giant retail and financial services group is expected to be finalised today when details of the restructuring of Board of Executors, NBS Boland, Pepgro and Samgro Investments will be announced. Bankers to the talks said last month an agreement had been reached in principle. Samgro and Boland shares have been suspended since the merger of NBS and Boland and NBS/Boland shares have climbed amid speculation on the future of the new banking group and its tie-up with BOE.
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