SOUTH AFRICA DAYBOOK: Bank Rate Unchanged, Strike, SABMiller

South Africa’s central bank will keep its benchmark rate unchanged at a 30-year low of 5.5 percent, according to all 24 economists surveyed by Bloomberg.

Reserve Bank Governor Gill Marcus will announce the decision from about 3 p.m. in Pretoria.

* South African coal miners may call a strike over pay after
labor unions declared a dispute with the Chamber of Mines, which
represents Anglo American Plc, Xstrata Plc and BHP Billiton Ltd.
* Oil and chemical industry workers will continue a strike that
started on July 11 to demand an increase in pay.
* Parliament’s economic development committee holds a hearing
from 9 a.m. on Wal-Mart Stores Inc.’s purchase of a controlling
stake in Massmart Holdings Ltd.
* South Africa’s Reserve Bank is scheduled to release an
invitation for a weekly government Treasury-bill auction that
will be held tomorrow.

* African Mining Congress takes place in Johannesburg with
speakers including Phillip Barton, the chief executive officer
of De Beers South Africa.

* The rand strengthened 0.9 percent to 6.8770 per dollar at 6:10
p.m. yesterday in Johannesburg.
* The FTSE/JSE Africa All-Share Index declined 0.01 percent to
32,056.06 yesterday.
* The yield on the 13.5 percent government bond due September
2015, known to traders as the R157, fell 9 basis points
to 7.42 percent late yesterday.

* Afgri Ltd. (AFR SJ): The handler of about a third of South
Africa’s grain said earnings per share for the year to June 30
will be between 35 percent and 45 percent lower, while profit,
excluding one-time items, will decline by as much as 40 percent.
* IFCA Technologies Ltd. (IFC SJ): The investment company
with interests in software solutions and services holds its
annual general meeting.
* IQuad Group Ltd. (IQG SJ): The financial-services company
holds its annual general meeting.
* Hulamin Ltd. (HLM SJ): Africa’s largest aluminum processor
holds its annual general meeting at 3 p.m.
* Kumba Iron Ore Ltd. (KIO SJ): The unit of Anglo American Plc
is expected to publish its first-half earnings at 8 a.m. The
company said on July 7 that profit rose as much as 42 percent
from a year earlier.
* SABMiller (SAB SJ): The world’s second-biggest brewer hold its
annual general meeting in London.
* Vodacom Group Ltd. (VOD SJ): The largest provider of mobile-
phone services to South Africans gives an update on its
performance for the first quarter at 7 a.m.

To contact the reporter on this story: Gordon Bell in Johannesburg at

To contact the editor responsible for this story: Vernon Wessels at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.