The City of Gold is losing its lustre. According to the findings of a financial index that ranks the top financial centres of the world. Picture: File.
Johannesburg NOT as shiny as it ONCE was, index finds
The City of Gold is losing its lustre. According to findings of a financial index that ranks the top financial centres of the world.
The City of Gold is losing its lustre. According to the findings of a financial index that ranks the top financial centres of the world. Picture: File.
It’s not good news for Johannesburg, I’m afraid. According to a new financial index that measures and ranks the world’s top financial centres, Johannesburg is on the downswing.
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Sad but true. Just a day after it was revealed that South Africa ranks in the top 7 countries in the world for organised crime, we’ve taken another knock. Egoli has dropped in standing as a reputable financial centre, falling from 69 to 83, according to the Global Financial Centres Index.
JOHANNESBURG IS DROPPING
The index ranks 121 cities according to information provided by third parties. These factors include business environment, human capital, infrastructure, financial sector development and reputation. The third parties in the know providing this data include the World Bank and United Nations.
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South Africa and Johannesburg’s standing as a financial hub has taken a big reputational knock after these latest findings. We were bested by cities such as Casablanca (ranked 54), which continues to be the leading African centre. Interestingly, Mauritius (68), Kigali (81), and Nairobi (90) all gained 10 or more places in the rankings.
WHICH CITY IS THE BEST FOR BUSINESS?
New York remains the world’s top financial hub. London is second, followed by Singapore in third and Hong Kong fourth. Washington DC replaced Seoul in the top 10 rankings.
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Would you agree that Johannesburg is no longer the financial superpower it once was? Be sure to share your thoughts with our audience in the comments section below. Send an email to info@thesouthafrican.com.
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