The most important economic sectors are financial and business services, logistics and communications, and mining.
Gauteng is the financial capital of Africa: more than 70 foreign banks have their head offices in the province, and at least that number of South African banks, stockbrokers and insurance giants. The JSE Ltd in Johannesburg is the largest securities exchange in Africa.
The province’s economy is moving away from traditional heavy industry markets and low value-added production towards sophisticated high value-added production, particularly in information technology, telecoms and other high-tech industries.
The Innovation Hub in Pretoria is Africa’s first internationally accredited science park and a full member of the International Association of Science Parks. Its community has become a regional centre of innovation and knowledge creation, linked to the fast- moving world of global inter connectivity, and made up of small, medium and micro- enterprises and multinational companies, employing over 1 000 people.
The province has the best telecommunications and technology on the continent, with correspondents for the world’s major media stationed here, as well as South Africa’s five television stations. It also has the highest concentration of radio, internet and print media in Africa.
Manufacturing includes basic iron and steel, fabricated and metal products, food, machinery, electrical machinery, appliances and electrical supplies, vehicle parts and accessories, and chemical products.