Information on the economy of Gauteng brought to you by Conference Venues South Africa including Gauteng's mining industries, financial industry and JSE Securities exchange.
Gauteng is considered to be the economic hub of South Africa. The province contributes heavily in the transport, manufacturing, financial, telecommunications and technology sectors, even though it only covers 1.4% of South Africa’s total land area. Gauteng also plays host to a large number of overseas companies requiring a commercial centre and gateway to Africa; the province generates 10% of the gross domestic product of the entire African continent.
Gauteng is an integrated industrial complex with economic activity in five regional areas, namely the East, West and Central Rand, Vaal Triangle and Pretoria.
Gauteng houses many of the country's most prestigious educational institutions and scientific institutes. There are about ten thousand firms involved in the province's manufacturing sector, employing more than half a million people. The leading industries in Gauteng are electrical supplies and appliances, basic steel and iron, electrical machinery, chemical products, fabricated and metal products, machinery, food, motor vehicle parts and accessories.
The high-tech corridor at Midrand is rapidly developing area in Gauteng, and the JSE Securities exchange has its home in Sandton. Gauteng’s economy is moving away from heavy industry to high value-added production, such as information technology, telecommunications and other high-tech industries..
Seen as the new commercial centre of South Africa, Sandton has become Gauteng's leading business centre. Over just the last 15 years, much of the financial focus has shifted from Johannesburg central business district to Sandton. Johannesburg's stock exchange relocated its offices to Sandton from the Central Business District in the late 1990s.