LONDON (Reuters) – British financial institutions that benefited from slavery such as Lloyd’s of London should go further than saying sorry for their role in the Atlantic slave trade and atone for their sins by funding Caribbean development, the region’s countries said.
More than 10 million Africans were shackled into the Atlantic slave trade by European nations between the 15th and 19th centuries. Those who survived the often brutal voyage, ended up toiling on plantations in the Americas.
While the history of Europe’s scramble for African slaves has been widely known for centuries, the death of George Floyd in the United States has prompted a sweeping global reassessment of racism and the financing of the slave trade.
The Lloyd’s of London insurance market apologised on Thursday for its “shameful” role in the 18th Century Atlantic slave trade and pledged to fund opportunities for black and ethnic minority people.
But a regional alliance of Caribbean countries said that Britain’s institutions should go much further than simply apologising and give some of the wealth back to the Caribbean by funding development at the epicentre of the slave trade.
“It is not enough to say sorry,” said Hilary Beckles, chairman of the CARICOM Reparations Commission which was set up by Caribbean countries to seek reparations from former colonial powers such as the United Kingdom, France and Portugal.
“We are not asking for anything as mendicant as handing out cheques to people on street corners,” Beckles told Reuters from Jamaica. “The issue of money is secondary, but in this instance the moral discharge of one’s duty does require in a market economy that you contribute towards development.”
There was no immediate reply from Lloyd’s of London to a request for comment.
(Read more at: https://www.reuters.com/article/us-minneapolis-police-protests-britain-c/sorry-is-not-enough-caribbean-says-of-british-apologies-for-slavery-idUSKBN23Q10D?il=0)