Merrill Lynch & Co. said Thursday it will resume South Africa business activity, effective immediately.
The brokerage firm, which stopped activity in South Africa in 1985, said its decision was consistent with those taken by governments worldwide to lift economic sanctions against South Africa,Merrill Lynch said it will resume providing a range of financial services to South African enterprises and to investors worldwide, among them research coverage of South African securities, serving as a broker/dealer in South African debt and equity securities, and providing advisory and capital-raising services to South African entities.
The action is consistent with the position on the removal of sanctions taken by the U.S. government, the United Nations, more than 100 political jurisdictions throughout the United States, South African government and South African political organizations.