Police shot one man dead and arrested four others during a shootout with a gang who allegedly robbed a jewellery store at the Mall of Africa on Wednesday evening.

Gauteng police spokesperson Capt Mavela Masondo said police also recovered jewellery items which included Rolex, Breitling, Omega and Tag Heuer watches. The items were apparently taken from the shop in the robbery.

"Police received information about a business robbery that occurred at a jewellery shop at the Mall of Africa at about 7.30pm," Masondo said.

He said police started looking for the suspects and they spotted them driving in a BMW X5 in Ebony Park, some 10km away from the mall. Police chased the suspects to Marlboro Drive near Alexandra, where the suspects opened fire.

"The armed gang shot at the police when they were intercepted in Marlboro and police returned fire resulting [in] one suspect being fatally shot and four arrested on the spot," Masondo said.

He said said the suspects would face charges ranging from business robbery, attempted murder, possession of suspected stolen property, reckless and negligent driving, and possession of a prohibited firearm and ammunition.

In an unrelated incident in Emndeni, Soweto, on Thursday, police arrested two men and seized two unlicensed firearms from them.

"It is suspected that they were on their way to commit a crime," Masondo said.

He said their vehicle, a Toyota Avanza, would be impounded.

"At this stage they will be charged with possession of unlicensed firearms while police are continuing to profile them," Masondo said.