Industry observers believed that the late Nelson Mandela contributed greatly to not only the political environment in South Africa, but the local business sector as well.

Although Nelson Mandela was best known for his role in ending apartheid in South Africa, a report from Businessweek highlighted the economic legacy left by the late leader.

Here are some important dates and events in the life of former South African President and anti-apartheid fighter Nelson Mandela, who died on Thursday aged 95 today.

The following is reaction to the death of Nelson Mandela on Thursday at age 95 The following is reaction to the death of Nelson Mandela on Thursday at age 95.

"Like slavery and apartheid, poverty is not natural. It is people who have made poverty and tolerated poverty, and it is people who will overcome it." - on being named Amnesty International Ambassador of Conscience, 2006

Nelson Mandela, the first black president of South Africa and hero of the country's anti-apartheid struggle, has died aged 95 after a recurring lung infection. The announcement was made by the country's president, Jacob Zuma, on Thursday.

An unnamed source told Reuters that drugmaker Adcock Ingram's largest shareholder Public Investment Corporation will not be putting up its 19% ownership stake for sale as the offer extended by potential buyer Bidvest undervalued its holding.

LeapFrog Investments exited from Express Life, a Ghanaian insurer, by selling a majority stake it held in the firm to Prudential Plc for an undisclosed amount.

French building materials business Materis is reportedly in an advanced stage of negotiations to sell its business unit Kerneos. Investment firm Astorg Partners will acquire Kerneos for EUR610 million.

Glencore Xtrata PLC, led by its chief executive officer Ivan Glasenberg, will be committing more capital in thermal coal than rivals BHP Billiton Ltd., Rio Tinto Group and Anglo American PLC.