Jump to navigation

Vol 39 No 3

Published 6th February 1998

South Africa

Wall Street is coming

Pretoria sees the invasion by US bankers as a vote of confidence in tough economic times

South Africa faces tough times. The African National Congress government hopes that foreign banks will help it through them, while the bankers are looking to make money from privatisation and changes of ownership in a market that was until lately sheltered. The British banks have lost their lustre; the Swiss giants, faltering and merging, seem less sure than they used to. Now the American corporate banks are arriving, with power, expertise and personal contacts built up during the anti-apartheid struggle.

End of preview - This article contains approximately 1735 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.

If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.