The FT reports this morning that Barclays is seeking to increase its stake in and control over its long controversial South African operations.
Those, like me, who learned their politics in the student world of the 1970s well remember all that Barclays stood for then.
South Africa's social tensions are rising.
Corruption in the country appears to be growing.
Strikers are shot.
And Barclays wants a bigger slice of the action.
Not again, surely?
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Maybe it’s ’cause there’s a tax angle to this, and also that the latest court case by the advocacy group, the New Economic Rights Alliance (NewERA), which is suing all four major banks and the Reserve Bank to seek a full investigation into how the banking system operates including how it arrives at its charges.
http://gosouthonline.co.za/22784/major-sa-banks-taken-to-court-over-pricing/