In a rare gesture, the Johannesburg Stock Exchange today paused trade for five minutes to mark the demise of South Africa's first black president Nelson Mandela.
At 11am this morning, the Johannesburg Stock Exchange (JSE) paused trade to mark Mandela's death.
The JSE said it was saddened by Mandela's passing and that the pausing of all JSE markets trading was a sign of "deep respect" for the global peace icon.
Mandela, a colossus of 20th century politics, died at his home in Houghton, a suburb of Johannesburg, following protracted illness. He was 95.
The Banking Association of South Africa said few people could convey the aspirations, fears and hopes of South Africans as Mandela could, state-run SA News reported.
"It is rarely given to a people that they should produce a single person who epitomises their hopes and expresses their common resolve as Nelson Mandela did. In simple language he could convey the aspirations of all South Africans in their magnificent variety; explain their fears and prejudices and sense the feelings of even the most humble," Cas Coovadia, managing director of the association, said.
The association also announced that all banks will close their head offices, branches and other premises for business on the day Mandela is laid to rest.
Mandela's body has been moved to the One Military Hospital in Pretoria.
The South African Chamber of Commerce and Industry (Sacci) also conveyed its condolences, describing Mandela as an exceptional man whose presence will be sorely missed.
