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Stuff from Johannesburg

Baker McKenzie Appoints New Head of Africa Strategy | MyJHB.co.za

Johannesburg in the news:

  1. Baker McKenzie Appoints New Head of Africa Strategy: Baker McKenzie has appointed a new director of its Africa operations, the firm has announced. Bruce Schubach, chief operating officer at its Johannesburg office, takes up the new role. With more than … – “Johannesburg” – BingNews
  2. JSE retreats on long-awaited Biden stimulus plan of .9 trillion: The market retreated on Friday as stocks held back after US President-elect Joe Biden’s long-awaited $ 1.9 trillion (about R30 trln) rescue plan triggered a risk-off sentiment. – “Johannesburg” – BingNews
  3. What alcohol ban? Restaurant managers arrested for selling booze: At least two restaurants in Pretoria and Johannesburg risk being shut down or a hefty fine after its managers were arrested for selling liquor, a violation of the Level 3 alcohol ban … – “Johannesburg” – BingNews
  4. Mark Barnes rips government over interference with Sapo: JOHANNESBURG – Former South African Post Office (Sapo) chief executive Mark Barnes has taken to social media to vent about the state of the frail state-owned entity as it emerged that the group chief … – “Johannesburg” – BingNews
  5. Amid COVID-19 surge, South Africa delays reopening schools: JOHANNESBURG (AP) — Faced with a rapid resurgence of COVID-19 overwhelming the country’s hospitals and driven by a more infectious variant of the virus, South Africa has delayed reopening its … – “Johannesburg” – BingNews

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Have you tried: Whale and Dolphin Watching in Algoa Bay?

Did you know this about Johannesburg? The Rand Club of Johannesburg is the oldest private members’ club in Johannesburg, South Africa, and founded in October 1887. The plan for the current, third, clubhouse was put on paper in 1902 and its construction was finished in 1904 on the design by architects Leck & Emley in the Edwardian neo-baroque style.

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Africa’s Economic Heartbeat and the JSE

Johannesburg is the undisputed financial capital of the African continent. It is classified as an “Alpha Global City,” meaning it plays a primary role in the global economic network. The city generates roughly 16% of South Africa’s GDP and is the headquarters for 74% of the major multinational companies operating in Sub-Saharan Africa.

At the center of this economic power is the Johannesburg Stock Exchange (JSE). Founded in 1887, just one year after the city’s birth, the JSE was initially a way to raise capital for deep-level mining. Today, it is the largest stock exchange in Africa and ranks among the top 20 in the world by market capitalization. The financial district has moved from the historic city center to Sandton, an area often called “Africa’s Richest Square Mile.” This shift reflects Johannesburg’s evolution from a rough-and-tumble mining camp into a sophisticated service-and-finance economy. Despite the decline in actual mining, the city remains the “command and control” center for the continent’s mineral wealth, telecommunications, and banking sectors.