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Economy of Kimberley


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Kimberley was the initial hub of industrialisation in South Africa in the late nineteenth century, which transformed the country’s agrarian economy into one more dependant on its mineral wealth. A key feature of the new economic arrangement was migrant labour, with the demand for African labour in the mines of Kimberley (and later on the Gold Fields) drawing workers in growing numbers from throughout the subcontinent. The labour compound system developed in Kimberley from the 1880s was later replicated on the gold mines and elsewhere.

The city housed South Africa's first stock exchange, the Kimberley Royal Stock Exchange, which opened on 2 February 1881.



On 2 September 1882, Kimberley became the first town in the southern hemisphere to install electric street lighting.

The rising importance of Kimberley led to one of the earliest South African and International Exhibitions to be staged in Kimberley in 1892. It was opened by Sir Henry Loch, the then Governor of the Cape of Good Hope on 8 September. It presented exhibits of art, an exhibition of paintings from the royal collection of Queen Victoria and mining machinery and implements amongst other items. The exhibition aroused considerable interest at international level, which resulted in a competition for display space.

South Africa's first school of mines was opened here in 1896 and later relocated to Johannesburg, becoming the core of the University of the Witwatersrand. In fact the first two years were attended at colleges elsewhere in Cape Town, Grahamstown or Stellenbosch, the third year in Kimberley and the fourth year in Johannesburg. Buildings were constructed against a total cost of 9,000 pounds with De Beerscontributing on a pound for pound basis
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