by Stop Banking on Apartheid
San Francisco, California, United States
October 1978
2 pages
Type: Leaflet
Coverage in Africa: South Africa
Coverage outside Africa: United States
Language: English
The leaflet says on November 17, the $top Banking on Apartheid (SBOA) campaign plans to leaflet at 500 branches of the Bank of America and to ask bank customers to withdraw their money from the Bank until it ceases making loans to South Africa. The leaflet says the South African government, elected by 4.2 million whites, controls the lives of 22.7 million blacks (Africans, Mixed Race, Asians and Indians). Its policy of apartheid includes total separation of the races and denial of all rights to blacks. U.S. corporations have invested over $1.67 billion there, and U.S. banks have lent South Africa over $3 billion--most to the government and its state-owned industries. The Bank of America has over $200 million in loans to South Africa, the majority to the state-owned industries. In 1977, its loans accounted for 10% of the amount South Africa had raised in the U.S. SBOA recognizes the role played by other California banks in supporting APARTHEID: Wells Fargo, Crocker National, Security Pacific, United California, Union, Chartered Bank of London, Sumitomo, and the French Bank. The leaflet mentions the U.S. Senate Committee on Foreign Relations, and economic and military self-sufficiency.
Used by permission of former members of Stop Banking on Apartheid.
Collection: Miloanne Hecathorn papers