African Activist Archive

$top Banking on Apartheid is a coalition of local church, labor, public, interest, research and community groups; it was organized in conjunction with the national campaign to stop bank loans to South Africa. Since June 1976, South African protest has shaken the foundations of apartheid and paralyzed the economy, and the minority regime has responded by killing and jailing thousands of people. Stop Banking on Apartheid (SBOA) is protesting Bank of America's support of apartheid in South Africa in addition to focusing on the bank's redlining activities, deficient affirmative action practices, and its use of union and public pension funds to support companies operating in South Africa. SBOA also advocates using alternative community-based banking institutions with responsible social investment records. As of April 1977, the Bank of America (BoA) had $188 million outstanding in direct loans to South African interests. People are asked to withdraw their account from BoA, withdraw their pension or retirement funds, publicize the issue of banking on apartheid, organize an educational program, picket BoA branches, ask local banks for their policies, and write their representative in Congress. The pamphlet mentions tourism, a chronic economic crisis, inflation, a trade deficit, a balance of payments shortfall, U.S. direct investment, participation in interactional consortia, Barclays Bank, homelands (Bantustans), the Terrorism Act, the Suppression of Communism Act, Black workers, the right to bargain collectively, the State of California, imprisonment, and liberation.

African Activist Archive

$top Banking on Apartheid

Creator

Place Created

Date

Type of Item

Length/duration

Description

Organization

Coverage Africa

Language

Digital Format

Rights Management

Collection