Where Does South Africa Go Post-Nelson Mandela?

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Dec. 5 (Bloomberg) –- Bloomberg Businessweek's Ken Wells discusses how Nelson Mandela helped reform South Africa's economy. He speaks with Mark Crumpton on Bloomberg Television's “Bottom Line.” (Source: Bloomberg)

Opportunity.

It expanded during his time in office.

How did that translate into job creation and economic growth?

For the first time, one of the issues with apartheid is that there was an entire generation of young people who skipped any kind of education.

They came in and totally changed that system and now you have lots of college-educated blacks since the end of apartheid who have joined the workforce and have become productive members of the economy.

It's been a huge leap forward.

There was criticism of mr.

Mandela from black south africans because the change was seismic in the country and they expect it seismic change to mean immediate change but that wasn't the case, was it?

It's a tough proposition.

The unemployment rate in 1992 was 40%. the expectation was that this miracle had happened and overnight things would improve.

Things did improve and have improved but they certainly don't happen overnight.

How has south africa's economy become a source of growth for its neighbors?

They're lucky to have abundant natural resources.

They have mining, gold, coal, platinum.

They have a very bountiful agricultural segment which is a large part.

They export now.

He allowed the economy to be the economy.

He opened up the markets.

He adopted the free-market mantra.

Unlike next-door where mcgaugh bay was confiscating the farms -- mugabe was confiscating farms, he wanted everyone to stay in the game.

Read a south africa goalpost nelson mandela?

There is a legitimate question as to having lost the man who was there true moral leader.

This cannot be understated.

This is literally like the heart has been ripped out of south africans tonight.

This gives time for them to build social capital there, this whole idea that they now realize the vast majority of south africans realize what they have and realize the upside of what they have.

Because mandela gave them such a long time to contemplate that, i remain an optimist about this.

I cannot let you go without telling people what you told me during commercial break when you are leaving this up before.

You did not meet the man but you also almost interviewed him.

That has to be a source of hurt for you.

He had to go up to some meeting and i got canceled.

I was brokenhearted, even more so now since his passing.

He was a giant.

He was an inspiration for so many people there.

That's what's really great.

Black, white, the old apartheid a guys, everyone claimed him as sort of a father figure.

Ken wills joining us on set with his recollections of south

This text has been automatically generated. It may not be 100% accurate.

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