BRAZIL - Bank Apologizes for Slavery Period

Arno Froese

The president of Banco do Brasil, Tarciana Medeiros, the first black woman to preside over the institution, apologized for the bank’s actions during the period of slavery in the country.

The apology is part of an agreement that the bank reached with the Public Ministry. Furthermore, it was requested that the bank also recognize its participation during the period of human trafficking and present a “reparation plan” for the actions committed.

The BB president said that the bank does not shy away from deepening its knowledge and facing the real history of the company's previous versions.

“But the simple fact that we are a current institution moves us to carry out voluntary activities with public commitment and with concrete goals to combat ethnic-racial inequality and seek social justice within a society that bears the consequences of slavery, regardless of whether or not there is any connection, even if indirect, between the activities of its other versions and enslavers of the 19th century,” she highlighted.

“The Bank ratifies its availability for dialogue, but considers that it is necessary for there to be a process of comprehensive and permanent reflection by the whole of society on the topic, since restricting the debate on a topic of this magnitude to just a single company means reducing potential for good practices that can be built in an articulated way throughout society.”, 18 November 2023 (translated by Google)

Arno's Commentary

Brazil is a nation of almost 220 million people. The CIA Factbook reveals that 47.7% are white, 43.1% mixed, 7.6% black, and 1.1% Asian. A Google search finds that Brazil is in 8th place based on overall GDP (PPP 2023). The economy grew by 2.9% in 2022, and 3.1% in 2023. When it comes to agricultural exports, Humboldt Global shows the USA in first place with $150 billion, followed, quite surprisingly, by tiny Netherlands in second place, with $94 billion. Third place is Germany with $86 billion, and in fourth place is Brazil with $79 billion. Rounding out the top five is France with $74 billion. We note that this does not indicate production but strictly agricultural exports.

Religiously, 50% of Brazilians identify as Catholic; that’s down from 90% in 1970. Recently, Evangelical Protestantism has reached an all-time high of 31% of the population. That is the good news; the Church is being built, souls are being harvested, and the fullness of the Gentiles will soon have reached its God-determined level.

The geopolitical race issue is far from being solved, yet many nations—particularly European—are being pressured to enter “reparation plans” with other countries; in this case, black people who have never been fully compensated.

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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