South Africa Daybook: Kofi Annan, Telescopes and Grand Parade Investments

Kofi Annan, the former secretary- general of the United Nations, will open a global commission for elections, democracy and security in Pretoria from 2 p.m. local time.

     WHAT TO WATCH:
* Naledi Pandor, the country’s science and technology minister,
briefs media in Pretoria about South Africa’s bid to host the
Square Kilometre Array radio telescope.
* Zwelinzima Vavi, the general secretary of Congress of South
African Trade Unions, and Ebrahim Patel, South Africa’s economic
development minister, speak at the South African Clothing and
Textile Workers Union conference in Durban.
* South African Reserve Bank to release results of inflation-
linked bond and Treasury-bill auctions.

     MARKETS:
* The rand weakened 0.1 percent against the dollar to 6.9124 at
8:05 a.m. in Johannesburg.
* The FTSE/JSE Africa All-Share Index rose 1.2 percent to close
at 32,350.12 yesterday.
* The yield on the government’s 13.5 percent bond due September
2015, known as the R157, rose 1.2 basis points to 7.791 percent.

     EQUITY MOVERS:
* Bidvest Group Ltd. (BVT SJ): The diversified investment group
said today it anticipates a positive impact on earnings
excluding one-time items of between 300 million rand ($43.3
million) and 400 million rand from the sale of half of its
economic interest in Mumbai International Airport Pvt Ltd.
* Grand Parade Investments Ltd. (GPL SJ): The investment
company with interests in tourism and gambling releases first-
half earnings, which it said on March 1 will likely be between
30 percent and 50 percent higher than the year earlier.
* RMB Holdings Ltd. (RMH SJ): Today is the last day to trade
in the company’s shares on the JSE in order to participate in
the unbundling of its interest in RMI Holdings, before the
latter is listed on the exchange.
* Sallies Ltd. (SAL SJ): The fluorspar producer said its loss
for the first half through December widened to 33.8 million
rand, from 27.6 million rand a year earlier. Sallies said it
doesn’t expect that sales of sufficient magnitude will be
achieved during the remainder of the current fiscal year to
eliminate the losses made to Dec. 31. The company has adequate
cash resources to meet its commitments “until at least the end
of 2011,” Sallies said. The company also renewed a cautionary
notice, saying a previously announced transaction remains
conditional.

To contact the reporter on this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net

To contact the editor responsible for this story:

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