Thursday, January 20, 2011

British Bank propping up Robert Mugabe?

Barclays bank is helping to bankroll President Robert Mugabe's regime in Zimbabwe, providing millions of pounds of support for his vilified land reforms, The Observer can reveal. Mugabe's opponents describe the bank's activities as a 'disgrace' and an 'insult' to the millions who have suffered human rights abuses.

Barclays is the most high-profile of three British-based financial institutions, which, in total, have provided more than $1bn in direct and indirect funding to Mugabe's administration. The other two companies are Standard Chartered Bank and the insurance firm Old Mutual. According to influential newsletter Africa Confidential, that first disclosed the Barclays' loans, the British organisations provide an economic lifeline keeping Mugabe's regime afloat.

This about a year ago

http://www.guardian.co.uk/money/2007/jan/28/accounts.Zimbabwenews

So, I suppose Alf and the British will wash their hands of this one too, must be the low iq. sub saharans faults!!

Any thoughts?


The Brits have a high stakes in Zim from prior long term financing. During this global credit crunch the bottom may very well fall out if not some high powered maintenance is performed. Both Barclays and Standard already got badly hurt by the loan defaults in USA and GB, by shoring up Zim they are buying time and hope the turn around is near. I don't think the bank's action should be interpreted as confidence in Uncle Bob but more an action of CYA. . . .or CTAsses.

On the other end of the continuum, if they did not help now, all their prior outlays will have to be written off too.

Just shows you shouldn't believe Uncle Bob.

I thought all your lot thought the sun shone out of his netherquarters.

Don't forget, MJ Zimbabwe still has vast resources in both mineral and agricultural wealth, it hasn't lost value just abillity.

At one stage the Zim$ was two for £1.00, the way that I see it, a countries currency is like a share certificate in that country and its strength reflects its performance, like a big company, now their money is worthless but the true value of Zimbabwe is in the land.

I see you have been deleted.Thanks for the 2.

This is not true. I will not allow you to say that a British colonialist institution such as Barclays, which propped up the racist apartheid regime in South Africa, is propping me up. It is not. I do not need propping up - the election results always show I am the leader.

Actually, it is not Barclays, it's the Post Office. Very good banking arrangements to be had there, I recommend them to all of you. The rate of interest is phenomenal!

I see you are back fighting fit now MJ shame you see fit to insult the people who have given you at least a temporary haven.

No comments: