African Activist Archive

Reprint of an article from the April 1978 issue of Southern Africa magazine published by the Southern Africa Committee. The article reports on a meeting of 20 organizers in New York City to formulate goals and strategies for the campaign to stop bank loans to South Africa, including both new loans and renewal of existing loans. Two dates were chosen for actions to build the campaign - March 21,the date of the Sharpeville massacre, and June 16, the day on which the Soweto uprising of 1976 began. Lending is dominated by several large commercial banks like Bank of America, Chase Manhattan, and Citibank, but many smaller regional and local hanks have also been involved, often through transactions backed by the U.S. Export-Import Bank. According to COBLSA, U.S. banks have lent more than $3 billion to South Africa since 1974. There are now active local groups working on the bank campaign in at least 11 cities: Boston, Chicago, Cleveland, Charlotte, Milwaukee, Minneapolis, New York, Philadelphia, Pittsburgh, Rochester, and San Francisco. • Size of US Bank Loans • Building the Committee • Actions - National and International • US Victories • Corporate Campaigns • Problems to be Faced • Organizing Resources

African Activist Archive

Bank Campaign Builds Strength

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