The University of Cambridge in Britain acknowledged on Thursday that it had benefited historically from the sale of slaves. It also pledged to increase scholarships for Black students and support additional research into the murderous practise.
The acknowledgment comes at a time when other influential organisations, including the Church of England and the Bank of England, are reassessing the crucial contribution slavery made to Britain’s prosperity and how they benefited from its abuses.
No proof that Cambridge University has ever directly owned slaves or plantations, according to an investigation the university commissioned, Cambridge claimed. But research revealed that it had benefited ‘significantly’ from slavery.
According to the investigation’s findings, those came from university donors who had acquired their wealth through the slave trade, the institution’s holdings in businesses involved in it, and donations from families who owned plantations.
Researchers discovered that investors in the Royal African Company and fellows from Cambridge colleges both had connections to the East India Company, two businesses that participated in the slave trade.
According to the report written by a group of Cambridge professors, the university also received gifts from shareholders in both businesses and actively invested in the South Sea Company, another business involved in the slave traffic.
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