Action Against Barclays
Jubilee South Africa
Date: 29th of April 2005

It is the position of Jubilee South Africa that it will oppose the Barclays bid for ABSA until 1) Barclays apologizes for supporting the Apartheid regime, 2) Barclays makes reparations to those who suffered because of this support, and 3) The Khulumani v. Barclays lawsuit in the USA is completely resolved. Jubilee South Africa is fully prepared to meet with ABSA and Barclays to discuss the implementation of these demands.

Jubilee South Africa has a three-phase plan to make any attempt by Barclays to re-enter the South African economy without addressing its Apartheid past unwelcome:

Ø Action throughout South Africa, organized by local groups
Ø Actions throughout the African Continent, wherever Barclays Bank operates
Ø International actions (Barclays is active in more than 60 countries) and, particularly, actions in the United Kingdom where Barclays is headquartered.

The Barclays bid for ABSA is an insult to the people of South Africa, especially to those who suffered under the illegitimate Apartheid regime. At present, Barclays is the lead defendant in a lawsuit brought in the United States of America by 87 South Africans (represented by the Khulumani Support Group and other civil society organizations) who had been subjected to gross human rights violations during Apartheid.

The lawsuit charges Barclays National Bank Ltd and 22 other foreign companies with aiding and abetting the Apartheid regime, in the knowledge that their support (financial and otherwise) would be used to suppress the South African population through the most violent of measures. The lawsuit was lodged in the Court of Appeals for the 2nd Circuit, which covers New York, on the 27/04/05.

Barclays chose not to appear before the Truth and Reconciliation Commission (TRC), disclose its dealings with the Apartheid regime, and seek amnesty. This is despite being a major financier to the Apartheid regime.

Barclays Bank’s role in supporting the Apartheid regime is well-known. For example:

In 1976, Barclays acquired R10 million of South Africa Defense Bonds, constituting the largest single purchase and representing about one-eighth of all the bonds sold; such bonds directly financed the South African Armed Forces. The cheque for the bonds was personally presented to the acting head of the Defense Force, Lieutenant-General R. Rogers at a ceremony where Barclays National’s managing director, Bob Aldworth stated that "the bank regards the subscription as part of its social responsibility not only to the country at a particular stage in its history, but also to our staff members who have been called up."[1]

Until Barclays National Bank Ltd fully apologizes to the South African people for the support it gave to the Apartheid regime, until it pays reparations to those who have suffered from its actions, and until the Khulumani v. Barclays lawsuit is completely resolved, Barclays should withdraw its bid for ABSA bank, thus avoiding a hostile re-entry into the South African economy.

This is a unique opportunity for Barclays to approach South African society in an ethical and constructive manner, and to break with its unpleasant past.

For more information contact:

MP Giyose, Chair of Jubilee South Africa
Tel: +27 46 624-2557
Cell: +82 350-0361

George Dor, Jubilee South Africa General-Secretary
Tel: +27 11 403-4858

Dennis Brutus, Jubilee Patron and Plaintiff in Khulumani v. Barclays
Tel: +27 11 403-7624/22

Tristen Taylor, Apartheid Debt and Reparations Campaign Coordinator
Tel: +27 11 403-7624/22
Cell: +27 84 250-2434
[email protected] [2]