The Money That Sustained the Racist Fortress of Apartheid South Africa (1946-1986)

The formation of the National Party of Afrikaner (Boer) in 1948 marked a devastating turn in the life of black South Africans. The government began passing laws that led to segregation in education, political and social life. The Boers viewed the majority black population as only useful for menial work. When the Boers in South Africa saw what appeared to be a success for white settlers in Rhodesia in November 1965, they became more confident. In November 1965, white settlers in Rhodesia declared independence from the British crown and was seemingly not punished by the British government.

However, by 1980, neighboring countries of Mozambique, Zimbabwe and Botswana were now independent thus further isolating South Africa. The South African government had successfully suppressed any black revolt including Mandela led guerilla revolt, strikes by black workers in manufacturing and protests by black students on college campuses.

In the early 1980s, 4 million whites had almost complete control over a population of 24 million people. The white minority government was confident in the support they received from the West including American President Ronald Reagan. Western countries were heavily invested in mining in South Africa and did not want to disrupt the flow of minerals that greatly benefitted them. The more the South African economy expanded the more discrimination black people experienced in apartheid South Africa.

In 1986 alone, 40,000 people were arrested or detained between March and June. In addition, the government banned many black organizations including the United Democratic Front.

In a class action suit filed by on behalf of victims, several companies were accused of profiting from apartheid South Africa including:

1. Chase Manhattan Bank
2. Credit Suisse,
3. UBS,
4. Citicorp Inc (which owns Citibank),
5. Morgan Guaranty,
6. Deutsche Bank,
7. Daimler Chrysler,
8. Siemens and
9. IBM
10. Royal Dutch Shell,
11. BP
12. Mobil,
13. Vickers
14. Rolls-Royce
15. General Motors
16. Unisys
17. Ford