Socialist Society has been distributing this leaflet on the issue of investments in South Africa:
UNION INVESTMENTS IN SOUTH AFRICA
OUR UNION AND RACISM
Guild accounts, published this week, reveal yet another facet of the involvement of this Union in racialist politics. They reveal that the Students Union is investing in companies which have extensive interests in Rhodesia and South Africa – companies which are dedicated to prolonging the inhuman exploitation of the black African under the apartheid regimes.
These are the companies in which the Union invests:
British American Tobacco Limited
£4000 invested. A major food and tobacco combine with seven subsidiaries in Rhodesia and South Africa, including B.A.T. Rhodesia Ltd and the United Tobacco Co. Ltd. The Union also invests in Gallaher Ltd, another tobacco giant with South African interests. Tobacco is the lynchpin of the Rhodesian economy.
Turnerand Newall Limited
£2,260 invested. One of the major developers of the Rhodesian and South African asbestos mines. Eight subsidiaries in Rhodesia and South Africa, including the Rhodesian and General Asbestos Corp. Ltd and New Amianthos Mines Ltd. The asbestos mines are noted for the brutality of their labour conditions; asphyxia and poisoning from asbestos dust claim a 40% severe casualty rate. The Union also invests in British Insulated Callenders Cables (BICC), another group with extensive interests in the Rhodesian and South African economies, and which utilise their asbestos resources.
Shell Transport and Trading Company
£6,840 invested. Two subsidiaries in Rhodesia, seven in South Africa.
Imperial Chemical Industries (ICI)
£5,613 invested. ICI has a list of interests in Central and Southern Africa as long as your arm. South African firms include SA Explosives and Chemicals Industries Ltd and SA Nylon Spinners Ltd.
Six subsidiaries in Rhodesia and South Africa. Director is Viscount Leverhulme, a member of the university Council.
Include British Motor Holdings Ltd, Thorn Electrical Industries and Sun Alliance and London Insurance Co Ltd, all with South African interests.
Our Union is further involved than just Lord Salisbury in upholding the brutal system of apartheid.
ON MONDAY, GUILD COUNCIL DISCUSSES THESE ACCOUNTS.
COME TO GUILD COUNCIL, MONDAY 1.00PM, ABERCROMBY ROOM.