Johannesburg is the economic and financial hub of the Witwatersrand region, which produces 40 percent of South Africa's gross domestic product (GDP). Mining is the main source of the Witwatersrand's economy, but is gradually declining. While gold mining no longer takes place within the city limits, most mining companies have their headquarters in Johannesburg. The city has a great variety of manufacturing industries, including steel and cement plants. Many banking and commercial companies are also located in Johannesburg. The Johannesburg Stock Exchange, the biggest in Africa, was founded in 1887. Because of its commercial importance, Johannesburg is the site of a number of government branch offices, as well as consular offices and other institutions that are usually found only in capital cities.
The Witwatersrand urban complex is a major consumer of water in a dry region. Its continued economic and population growth has depended on schemes to divert water from other regions of South Africa and from the highlands of Lesotho, but additional sources will be needed early in the 21st century.
Microsoft® Encarta® Online Encyclopedia 2001
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