Swiss Re - Review 26 - January 2008 - (Page 28)

forum Johannesburg – Gateway to Africa A vast country marked by its geographic and cultural diversity, South Africa is proud of its noble capital. The city also has the largest economy of any metropolitan region in Sub-Saharan Africa. The city sparkling by night Modern Johannesburg generates 16% of South Africa‘s GDP and employs 12% of the national workforce. It has a financial, municipal, road and telecommunications infrastructure that matches the world’s other major cities, yet the cost of living is far lower. There‘s hardly a global company doing serious business in sub-Saharan Africa that has not looked to Johannesburg as the gateway review 26 Photo: Richaard Dobson/Gettyimages Since geographically, there are no mountains or estuaries to block growth, the city is a shapeless sprawl where interests and standards of living are often widely separated. Home to more than three million people, Johannesburg is one of the world‘s few large metropolitan areas to be based on neither an ocean port nor a major river. Ironically, the city is ranked as the biggest port in southern Africa, thanks to an export/import railway freight facility. Home to diverse population groups and languages from throughout Africa, South Africa itself has eleven languages, and all of them are spoken in Johannesburg. While the indigenous languages of Zulu, Afrikaans, Setswana and Sesotho count among them, tourists will find that English is the predominant language of government, business and the media. Portraits: Provided by the authors When Johannesburg was settled as a goldrush shanty town at the end of the 19th century, nobody expected the settlement to survive more than a few years. Instead, the gold lodes proved so rich that disputes flared over who controlled Johannesburg. By the nineteen-twenties, the city had outpaced every rival to become Africa‘s major commercial centre. to the continent. The World Economic Forum rates the city’s banking sector as the sixth most sophisticated in the world. Since Johannesburg sits on a high-altitude inland plateau 1753 metres (6000 feet) above sea level, visitors may need some time to adjust, especially if they are partaking in sports. But this inconvenience is more than made up for by the climate: The city’s weather is balmy some ten months of the year, and the city rarely becomes as stifling hot as many other African cities do.

Table of Contents for the Digital Edition of Swiss Re - Review 26 - January 2008

Cover
Editorial
Swiss Re Academy – Assets and opportunities
On course – Looking back at courses held
Key topic – Focus on a business line
Forum – Ways of the world
Quiz – For the fun of it!
Mailbox – Post from far and wide

Swiss Re - Review 26 - January 2008

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