 |
 |
 |
 |
 |
 | ||||
Tollgate player cleared of frau... New bill leaves industry with a three-ti... Indian Ocean countries largely isolated ... Africa rings in the changes in informati... Big Mac index finds rand undervalue... Lubombo plan lays trail from SA's Hluhlu... Stals proud to be unpopular if it means ... |
THE WEEK AHEADMONDAY: Africa Telecom '98, the largest ever telecommunications conference on the continent, will take place this week in Johannesburg. Key to the conference, which has attracted top executives from most global multinational IT and telecoms companies, will be mapping out a strategy to develop telecoms throughout Africa. With Africa falling ever further behind, telecoms ministers are desperate to develop the institutions and polices that will put Africa firmly on the information highway.TUESDAY: Altron subsidiary Power Technologies is expected to report solid earnings next week, thanks to good earnings coming from its cable manufacturing business, which accounts for more than 50% of turnover. Powertech's year-end headline earnings are forecast to rise to a consensus 66.3c a share from 60.2c, while dividends should increase 4.25c to 22.25c, analysts say. Powertech last month said it would buy Voltex, SA's largest maker of low-voltage power cables, in a R750-million deal. Combined, Powertech - which makes medium-voltage cables - and Voltex would control about 45% of the SA market with turnover of R3-billion. Numerous other interim and final results will be released this week including companies in the Barlows and SA Breweries stable. Results are also expected from Rainbow, Didata, FNB and Coronation.
WEDNESDAY: The government will release its long-awaited policy on the energy sector today. Mineral and Energy Affairs Minister Penuell Maduna's controversial contribution to the sector to date has been to promise greater black participation, but the policy should address far more important aspects of the sector, which comprise liquid fuels, nuclear energy and electricity. Maduna's electricity policy will have a major effect on Eskom's future while his proposals on liquid fuels will determine the future petrol price mechanisms for SA's oil giants. The release of the white paper coincides with the tabling of amendments to the Nuclear Energy Act which will give Maduna a greater say over the Atomic Energy Corporation. THURSDAY: Lonrho Africa is expected to start trading on the London and Johannesburg stock exchanges today in the latest twist in the long-running saga of the diversified mining house. Both the SA Reserve Bank and the JSE are set to approve the dual listing which follows Lonrho's unbundling. The listing comes at a time when Lonrho founder Tiny Rowland, who was unceremoniously ousted from the group two years ago, is said to be looing at buying back control of the group. Lonrho recently bought back a 21% share in the company held by JCI. FRIDAY: Southern Life, First National Bank and Momentum hold their shareholders' meetings this week to back the creation of the R59-billion FirstRand financial services giant created by the merger of Rand Merchant Bank and Anglo American's financial interests. The shareholders' meetings are expected to rubberstamp the deal, which will lead to the eventual listing of FirstRand on Monday, May 25. The massive deal, announced in mid-March, launched a wave of mergers in SA's financial industry to create so called bancassurers. Included in the list are the proposed tie-up between Liberty Life and Standard Bank and possible mergers between Old Mutual/Nedcor and Absa/Sanlam.
|