Activists protest over Standard Bankâs potential backing of East Africa oil pipeline
By Shakirah Thebus
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Cape Town - A visual demonstration was held outside the Standard Bank Thibault Square branch in Cape Townâs CBD over the weekend, in protest against the bankâs potential financial backing of the East African Crude Oil Pipeline (EACOP).
Extinction Rebellion (XR) Cape Town participated in the international #StopEACOP campaign on Saturday.
EACOP is a 1 445km pipeline that will transport crude oil from Kabale, Uganda, to the Chongoleani peninsula near Tanga port in Tanzania.
Major banks and financial institutions are funding the $3.5 billion project (about R53.7bn). The project will be the longest electrically heated pipeline in the world.