Mandela lauded for helping restore investor confidence

Former South African President Nelson Mandela was "instrumental" in building South Africa and regional economy, the National Employers' Association of South Africa (NEASA) said on Saturday.

Mandela helped "restore investor confidence" following years of international sanctions against the apartheid regime, said NEASA, South Africa's largest employers' association.

"Mandela also played a significant role in ensuring that South Africa becomes an important source of economic opportunity for neighboring countries," said NEASA.

NEASA said the core focus of Mandela's leadership was on uplifting human life, concentrating on poverty eradication and ensuring a better life for all.

NEASA Chief Executive Officer Gerhard Papenfus said this in Johannesburg, joining millions of people across the world in mourning the death of Mandela.

"NEASA honors Madiba for playing a crucial role in not only ensuring a peaceful transition, but also contributing to the country's economic stability and growth through a very daunting period in our history," Papenfus said in a statement.

Mandela, dubbed father of the nation, served as president from 1994 to 1999. He was the first to be elected in a fully representative democratic election. He died on Thursday at the age of 95 at his Houghton home in Johannesburg.

Under Mandela's leadership, South Africa's economic growth climbed from less than 1.5 percent between 1980 and 1994 to slightly under 3 percent between 1995 and 2003, Papenfus said.

Mandela, who realigned South Africa's economic policies towards a developmental state, was popular for his stance to eliminate poverty and ensured that everyone rich or poor has a role to contribute towards economic development.

"Basic services were rolled out to the most remote areas of the country, Madiba-houses sprouted up throughout the country and many living in adverse poverty received social grants," Papenfus said.

"The most important thing to remember is that Madiba left us with a vision of a new and better life. He also provided us with the tools to accomplish this. Let us not disappoint him."