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Formed from part of the old Transvaal Province after the very first democratic and non-racial elections of South Africa on 27 April 1994, Gauteng was initially named Pretoria-Witwatersrand-Vereeniging (PWV) and was renamed "Gauteng" in December 1994. The name Gauteng is copied from the Afrikaans goud (gold) plus the Sotho-Tswana locative suffix "-ng". This came after the 1886 discovery of gold in Johannesburg.
Located in the Highveld, Gauteng is the smallest province in South Africa, sized 16 548 km2 yet has a large population of 12,914,800 which is 23.7% of the South African population. In the population 19.8% are Zulu speaking people, 12.4% Afrikaans, 11.6% Sesothoand 13.3% English. The province contributes a huge stake of 33.7% of the South African GDP with a Gross Regional Product of R897.6 billion. The province is highly urbanised, encompassing the country's largest city and capital of the province, Johannesburg, its administrative capital, Pretoria, and other large industrial areas such as Midrand, Boksburg, Gemiston and Vanderbijlpark. Up to date Gauteng is the most populous province in South Africa.
Gauteng is considered the economic centre of South Africa and contributes heavily in the financial, manufacturing, transport, technology, and telecommunications sectors, among others. It also plays host to a large number of overseas companies requiring a commercial base in and gateway to Africa.
Gauteng is home to the Johannesburg Stock Exchange, the largest stock exchange in Africa. Some of the largest companies in Africa and abroad are grounded in Gauteng, or have offices and branches there, such as Vodacom, MTN, Neotel, Microsoft South Africa, and the largest Porsche Centre in the world.
Gauteng generates about 10% of the total GDP of sub-Saharan Africa and about 7% of total African GDP.