70s25. Hill Samuel and South Africa: Financing Apartheid

The British based merchant bank Hill Samuel played a major role in mobilising loans from Western banks to the South African government and its parastatal corporations. This briefing from End Loans to Southern Africa (ELTSA) showed how in the 1970s Eurocurrency loans arranged by Hill Samuel made up a growing proportion of total overseas investment in South Africa. It listed the parastatal corporations for which Hill Samuel arranged loans between 1972 and 1978. ELTSA was set up in the early 1970s to campaign against Western banks involvement in Southern Africa.