MyJHB

Stuff from Johannesburg

Many PPE contracts null and void – SIU

Johannesburg, Gauteng, South Africa in the news:

  1. Many PPE contracts null and void – SIU: Johannesburg – The Special Investigating Unit (SIU) probe into the procurement of personal protective equipment (PPE) has uncovered that most companies awarded contracts were not accredited or … – “Johannesburg” – BingNews
  2. Defence and Finance Ministers to answer questions in Parliament over Presidency’s hiring private jet for foreign travels: The Defence and Finance Ministers are expected in Parliament this week to respond to questions on what the Minority claims is misuse of about ¢2.8 million by the presidency for the hiring of private … – “Johannesburg” – BingNews
  3. COVID-19 in SA | Liquor industry warns against tougher restrictions: The liquor industry’s warning government against imposing tougher COVID-19 restrictions that would have limited effect. – “Johannesburg” – BingNews
  4. India’s Vinoo Mankad, nine other icons inducted into ICC Hall of Fame to mark inaugural WTC Final: India’s legendary all-rounder of the post-War era, Vinoo Mankad, is among the 10 cricket icons who are part of a special edition intake into the ICC Hall of Fame to celebrate the prestigious history … – “Johannesburg” – BingNews
  5. Afrihost to buy Cool Ideas: Afrihost and Cool Ideas are working to finalise the transaction as soon as possible. With this transaction, Afrihost and Cool Ideas are hoping to leverage the economies of scale of a larger network. – “Johannesburg” – BingNews

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

Did you know this about Johannesburg? The Carlon Centre (located in the city’s CBD) is the tallest office building in Africa: The building was completed in 1973. It has 50 floors and is 224 metres tall. It’s not the tallest structure in Johannesburg though. The Hillbrow Tower (also located in the CBD) stands 269m tall.

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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.