Trevor Manuel, Minister in the Presidency and former finance minister: 1996 - 2009

WITH the unbanning of the ANC and the release of Madiba in 1990, an economic policy was not first priority. We were more worried about how the struggle would conclude and also what the constitution would look like — OR Tambo had already done some work on the constitution at that time.

As we know, Madiba repeated the ANC’s intentions of nationalisation of banks, mines and other big companies from the Freedom Charter.

There was a debate around words such as “privatisation” in a room with Madiba and myself, Tito Mboweni, Joe Slovo, Walter Sisulu and Khetso Gordan (now CEO of PPC) and maybe one or two others.

But really, when Madiba came back from Davos in 1992 nationalisation was off the table.

Other debates were also held around the independence of the Reserve Bank, for instance.

By the time Madiba became president, the country was saddled with a budget deficit of 9.3% and the cost of servicing our debt was squeezing what we could spend on muchneeded public services.

In fact, it was believed that we would spend more on servicing debt than on education by 1998 — which was why certain macro-economic policies were brought in on growth, employment and redistribution.

Madiba’s leadership style was really to empower others.

He would allow those that he appointed (to decide on) economic issues the space and executive authority to proceed with their work.

But, of course he also used his charm and persuasiveness to tell the rest of the world why South Africa was such an important destination to invest in.

As a person, I will remember him as warm, embracive, empowering and willing to walk the talk.