German Company withdraws support to Zim Central bank after protest

Dear all,

Working with several of you over the last few weeks we’ve waged a campaign in Germany and internationally to push for the German company, Giesecke & Devrient – which supplies bank notes to the Zimbabwean Government - to end its support for the regime.

After refused to withdraw we launched a public campaign in Germany, backed by many of the German activist groups and Zimbabwean networks. We managed to get questions placed in parliament, and under mounting pressure we got the German government to formally write to the company asking for them to withdraw.

Still the company refused.

On Friday we held a rally outside the companies headquarters in Munich (here’s a picture: http://www.spiegel.de/wirtschaft/0,1518,562644,00.html) and under mounting media pressure German Ministers publicized the letter they had sent to the company.

Yesterday at 19:00 the company issued a statement saying it was withdrawing from supporting the Zimbabwean central bank- (see below).

Thanks to everyone who worked on this and made this happen,
Giesecke & Devrient halts deliveries to the Reserve Bank of Zimbabwe
Munich, July 1, 2008 - The Management Board of Giesecke & Devrient GmbH, Munich, today decided to cease delivering banknote paper to the Reserve Bank of Zimbabwe with immediate effect.

The company has taken this step in response to an official request from the German government and calls for international sanctions by the European Union and United Nations.

“Our decision is a reaction to the political tension in Zimbabwe, which is mounting significantly rather than easing as expected, and takes account of the critical evaluation by the international community, German government and general public,” explains Dr. Karsten Ottenberg, Chairman of the Management Board and CEO of Giesecke & Devrient GmbH.

In delivering banknotes and banknote paper, Giesecke & Devrient is subject to strict rules defined by the World Bank. The company continues to rely on the political and moral assessment provided by international trade regulators.