Nelson Mandela – a celebration of an icon’s life

Nelson Mandela’s economic legacy

Tuesday 18 July 2017 21:24

Glorious Sefako-Musi

Wits University Economics Lecturer Lumkile Mondi says during Nelson Mandela's tenure South Africa saw economic growth.

Wits University Economics Lecturer Lumkile Mondi says during Nelson Mandela's tenure South Africa saw economic growth.

As we celebrate International Mandela Day SABC news asked economists what the former President's economic legacy was.

Wits University Economics lecturer Lumkile Mondi says Mandela built an environment where black and white business could work together in creating wealth.

Mondi says under Mandela's leadership South Africa was able to attract Foreign Direct Investment which led to fast economic growth.

He says the Growth Employment and Redistribution (GEAR) adopted in 1996 stimulated faster economic growth which was required to provide resources to meet social investment needs.

Institute of Race Relations Economist Ian Cruickshanks says Mandela left a profound difference in confidence in the economy following decades of the apartheid regime that excluded the majority of the population from the economy.

Cruickshanks says the uncertainty of moral values among the current leadership has contributed to a dip in confidence which has led to investors holding back on investments impacting negatively on economic growth.

Click below for more on the story:
Share this page: Printer friendly version
 
SABC ©