by Madison Area Committee on Southern Africa
Madison, Wisconsin, United States
Undated, about 1970
2 pages
Type: Report
Coverage in Africa: South Africa
Coverage outside Africa: United States
Language: English
The report says the University of Wisconsin holds stock in Chase Manhattan Bank; General Motors; Kimberly-Clark; Mobil Oil; Standard Oil, New Jersey; and Standard Oil, Indiana. Chase Manhattan Bank is part of a consortium of 10 U.S. banks that has extended a revolving credit of $40 million to the South African Government. General Motors has invested $125 million in South Africa and is contributing to South Africa's self-sufficiency in the motor industry. Mobil Oil is prospecting for oil off South Africa's continental shelf. Standard Oil subsidiaries are also involved in exploration, and Standard Esso has recently showed its confidence in South Africa's economy by building a $10 million fertilizer plant. The report says Kimberly-Clark and a number of other companies have established and expanded plants in South Africa since the introduction of police state laws. Allis-Chalmers is a Wisconsin-based firm in trouble; in 1967-68 the company lost $54 million and plans to lay off 5,000 corporate personnel this year. One of its profitable ventures is building South Africa's first nuclear reactor. The report says a University of Wisconsin Extension faculty member recently returned from South Africa where he "helped to make Bantu (black) education relevant to their needs"; this is perpetuating the South African regime's concept of separate and inferior education for black South Africans. The report says it is impossible to work in South Africa and maintain any independence from the apartheid regime. The report also discusses Ford Motor Company.
Used by permission of David Wiley and William Minter, former members of Madison Area Committee on Southern Africa.
Collection: Private collection of David Wiley and Christine Root