MyJHB
Stuff from Johannesburg
Johannesburg, Gauteng, South Africa in the news: COVID live: Javid to make statement as South African expert ‘expects’ new …
Johannesburg, Gauteng, South Africa in the news: Rand Water expects ‘significant’ improvement in Joburg’s water …
Johannesburg in the news: South Africa, hit hard by coronavirus second wave, expects first vaccines Feb. 1: South Africa expects the …
Johannesburg in the news: S.Africa’s Woolworths expects first-half profit to soar as retail demand improves: South African …
Johannesburg in the news: UPDATE 1-AB InBev expects total investment of up to 0 mln in Nigerian brewery: (Adds more details). …
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.