South Africa: Jubilee South Africa and Allies to Welcome Barclays Safari

Press Release: Jubilee South Africa and Allies to Welcome Barclays Safari
Jubilee South Africa
10th of November 2005

The Barclays Miles Ahead neo-colonial safari through Africa will be celebrating its triumph on Thursday (10th of Nov.) at the Convention Centre in Cape Town (6pm at the CTICC). Barclays executives have been travelling through East Africa in white 4x4s on a publicity tour designed to detract from the Bank's deep involvement in Apartheid, financing the Arms Deal, and other such acts of corporate robbery. This is a shady parody of the Cape to Cairo imperial designs of Cecil John Rhodes, and Jubilee South Africa and allies will be at the Convention Centre to give the Bank the welcome it deserves.

Barclays Miles Ahead extravaganza and was designed to hoodwink and fool Africans into believing that Barclays National Bank (including Absa) actually cares for the citizens of South Africa. Barclays does not, for if it did, it would apologise for its direct support to the Apartheid war-machine, and pay reparations to those who suffered. Both of these things are within Barclays's power to do so; its pre-tax profit in 2004 was GBP2.7 billion.

This unhelpful attitude towards reconciliation is standard operating principle for Barclays; Barclays chose not to appear before the Truth and Reconciliation Commission (TRC), disclose its dealings with the Apartheid regime, and seek amnesty. This is despite being a major supporter to the Apartheid regime. Furthermore, Barclays has refused to talk to civil society or religious within this country about resolving its Apartheid past, despite being the subject of mass-based campaign to do so.

Barclays Bank’s role in Apartheid is a matter of historical fact. For example:

“In 1976, Barclays acquired R10 million of South Africa Defense Bonds, constituting the largest single purchase and representing about one-eighth of all the bonds sold; such bonds directly financed the South African Armed Forces. The cheque for the bonds was personally presented to the acting head of the Defense Force, Lieutenant-General R. Rogers at a ceremony where Barclays National’s managing director, Bob Aldworth stated that "the bank regards the subscription as part of its social responsibility not only to the country at a particular stage in its history, but also to our staff members who have been called up."-- http://www.cmht.com/cases_apartheid.php

During the 1970’s and up until the mid-1980’s, Barclays Bank was a major financier for the Apartheid regime. Barclays helped the Apartheid regime to acquire over US$478 million worth of loans from 1972-1978, and, between 1982 and 1984 Barclays’s loans to South Africa totalled US$725.4 million.

Jubilee South Africa demands that Barclays apologise for funding Apartheid and then pay reparations.

For more information, please contact:

Cape Town Protest:

Makoma Lekalakala
Campaigns Coordinator
Jubilee South Africa
Cell: +27 82 682 9177
www.jubileesa.org.za

General Information and Background:

Tristen Taylor
Apartheid Debt and Reparations Coordinator
Jubilee South Africa
Tel: +27 11 403-7622/24
Cell: +27 84 250-2434
www.jubileesa.org.za