BNP Paribas and Shell are divesting from South Africa. The question being asked is whether it is a trend, aimed at undermining the South Africa economy, or just an internal decision by these two companies.
It was reported on May 7 that BNP Paribas, the largest bank in the EU, announced it is withdrawing from South Africa after 12 years. The claim is that the bank is consolidating its operations in Europe and Asia. Other French banks have exited from African countries recently, including Société Générale, which left Morocco and Ghana.
