Tribute to Nelson Mandela
Maybe all of us know that one of biggest figure in the world, Nelson Mandela passed away. He has been remembered as the anti-apartheid hero and become the first black president of South Africa.
Other than become a hero of independent he is also a man that make South Africa as the continent’s economic powerhouse. He make the country’s economic policy to be free market and now, South Africa is Africa’s most powerful economy and in 2010 , Africa was added to the elite BRIC grouping of fastest growing economies.
Mandela also believed strongly in the link between economic and political progress. After release from prison, he argued that there must be ‘a fundamental restructuring of our political and economic systems to ensure that the inequalities of apartheird are addressed’.
In his leadership, Africa become Africa’s largest stock market capitalization, highest sovereign credit rating, most heavily traded currency and highest purchased government bonds. South Africa also maintans Africa’s most modern business infrastructure and attracts the greatest foreign direct investment and number of global companies.
South Africa’s gross domestic product growth rate frol less than 1.5 percent from 1980 – 1994 to slightly under 3 percent from 1995 to 2003. According to University of Cape Town economist, Murray Leibbrandt the average personal incomes for white South African inceased by 62 percent from 1993 – 2008 while average incomes for Africans increased by 93 percent.
The Educational opportunities also expanded as secondary enrollment rates increased from 50 percent to 70 percent from 1994 to 2005. The government also rolled out a range of infrastructure services: The proportion of the country that cooked using electricity from the mains climbed from 45 percent in 1993 to 73 percent by 2011, for example.
South African investment accounts for around 70 percent of intra-regional investment flows. Imports from the Southern Africa Development Community—the regional trade block which South Africa joined upon its independence—climbed from $16.3 billion in 1993 to $68.7 billion in 2006. The number of migrants in South Africa—nearly all from other countries in the region—increased from 3.3 percent to 3.7 percent of the population between 1990 and 2010. There are now approximately 3.3 million SADC nationals living in South Africa; remittances from those migrants back to their home countries amount to close on $1 billion a year, according to South Africa’s FinMark Trust. The trust reports a 2005 survey of Zimbabwean remittance recipients in which more than half of respondents “agreed that they would have grown sick with hunger” in the absence of remittance payments.