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South Africa, Africa's southernmost nation, is also Africa's largest and most developed economy. Diamond and gold strikes in the late 19th century began transforming this land of African tribespeople, Boer farmers, and British traders into an industrial colossus. Today South Africa produces high-tech equipment and is a world leader in the output of gold and diamonds. On South Africa's high grassland plateau, or veld, lies its premier city, Johannesburg (usually shortened to Jo'burg). Johannesburg and its satellite cities are home to more than 8 million people—generating 9 percent of all economic activity in Africa.