MyJHB

Stuff from Johannesburg

Molefe defends Eskom decision to buy coal from Tegeta

Johannesburg, Gauteng, South Africa in the news:

  1. Molefe defends Eskom decision to buy coal from Tegeta: Brian Molefe testified at the state capture inquiry about what led to Tegeta taking ownership of the Optimum coal mine (OCM) and that supplied coal to the Hendrina power station. – “Johannesburg” – BingNews
  2. Government working to improve capability to produce COVID-19 vaccines: Mabuza: Deputy President David Mabuza says government is working on improving South Africa’s capability to produce coronavirus vaccines. He was visiting the Biovac Institute in Midrand, Johannesburg, where … – “Johannesburg” – BingNews
  3. Florida swing in full force with PGA Tour and LPGA Tour: Notes: Bay Hill was the last PGA Tour event with full fans before the COVID-19 pandemic shut down golf for three months. The tournament is allowing 25% capacity this year. … This is the second PGA … – “Johannesburg” – BingNews
  4. COVAX Program to Roll Out Tens of Millions of Vaccine Doses Globally: The global COVAX vaccine distribution plan aims to deliver tens of millions of vaccine doses to low-income countries — many of them in Africa – in the coming months, top global health officials say, … – “Johannesburg” – BingNews
  5. S.African police minister visits Cape Town after police killings: Following the killing of two police officers on Sunday morning South African Police Minister Bheki Cele on Tuesday conducted … – “Johannesburg” – BingNews

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Have you tried: Visiting Port Elizabeth?

Did you know this about Johannesburg? In 1893 Johannesburg’s first stock exchange was opened. From then until today Johannesburg has been the seat of the South African stock exchange and the country’s financial heartland. The Johannesburg Stock Exchange is presently in Sandton, Johannesburg.

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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.