$TOP BANKING ON APARTHEID

(Number 1)
by Stop Banking on Apartheid
San Francisco, California, United States
April 1978
4 pages
Type: Newsletter
Coverage in Africa: South Africa, Nigeria
Coverage outside Africa: United States, United Kingdom
Language: English
The newsletter reports on the upcoming Annual Meeting of the Bank of America (BofA) in Los Angeles, before which a press conference will be held by the Northern California Interfaith Committee on Corporate Responsibility and $BOA will issue a rebuttal to BofA President Tom Clausen. Actions protesting university stock ownership in Bank of America, as well as BofA policies, are being held throughout the state. Stanford University Trustees accepted recommendations from the Committee on investment responsibility. Davis, California, passed the nation's first referendum on U.S. investments in South Africa. The San Francisco Board of Supervisors will vote April 24 on a resolution recommending no city investments in firms doing business in South Africa. A Bill to curb South African investment passed the Assembly Committee on Revenue & Taxation by 10-1 and is now on the Assembly floor. The NAACP is calling for total withdrawa1 of U.S. business from South Africa and urging depositors to withdraw funds from banks doing business in South Africa. On March 21, demonstrations opposing bank loans to South Africa took place in over 15 cities across the U.S. and Canada. Six major banks recently announced they will not lend to the South African government. The Michigan legislature passed a concurrent resolution urging Congress and the President to impose sanctions against the South African government. Nigeria ordered its government agencies to withdraw from Barclays Bank of Nigeria, Ltd., because of Barclay’s involvement in South Africa. In Britain, 200 branches of Barclays Bank were picketed March 1. The newsletter reports on Crocker National Bank's annual meeting, major trade unions withdrawing their funds from banks, Export-Import Bank credits being targeted, International Monetary Fund lending to South Africa, and the Krugerrand gold coin. • California • North America • International • Nuts and Bolts • Help • Coming Events
Used by permission of former members of Stop Banking on Apartheid.
Collection: Alan Zaslavsky Africa Collection, Michigan State University Libraries Special Collections