Lapidoth Capital Ltd

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A large Israeli construction, infrastructure, and drilling company. Its subsidiaries Africa Israel and Danya Cebus are involved in several construction and infrastructure projects in illegal Israeli settlements in the occupied Palestinian territory.

Lapidoth Capital is an Israeli holding and investment group that operates in the construction, infrastructure, real estate development, and water and oil drilling industries. Since 2020, Lapidoth owns Africa Israel Investments, a holding and investment group that operates in the residential and commercial real estate, construction and infrastructure, and steel manufacturing industries. Africa Israel owns a controlling share in Danya Cebus, which is also independently listed on the Tel Aviv Stock Exchange.

Outside of Israel, Lapidoth and its subsidiaries do business in the U.S. as Al Florida Holdings Inc, AI Properties and Development Corp, and Danya Cebus Holdings US Inc. They also operate in Belgium, Bulgaria, Cyprus, Georgia, Romania, Russia, and the U.K.

Lapidoth subsidiaries Africa Israel and Danya Cebus have a long history of building residential and commercial projects in illegal Israeli settlements in the occupied West Bank. This includes large residential neighborhoods with thousands of housing units in the illegal settlements of Ma'ale Adumim and Modi'in Illit, as documented by Who Profits.

Having been excluded from some pension funds because of these activities, Africa Israel publicly stated in 2010 that it and its subsidiaries are not "involved in" and do not have "any plans for future involvement in development, construction or building of real estate in settlements in the West Bank." However, shortly after, Danya Cebus started building 121 housing units in Gilo, an illegal settlement that is part of occupied East Jerusalem.

Danya Cebus has conducted infrastructure work for other controversial projects, such as the underground wall around the blockaded Gaza Strip and the "American Road," a highway in occupied East Jerusalem that will reportedly displace hundreds of Palestinians. Previously, it built a shopping mall for Rami Levi in the Atarot Industrial Zone in occupied East Jerusalem, as well as residential dormitories for 1,600 students at the Hebrew University in occupied East Jerusalem.

Other than managing construction projects, Africa Israel has also provided equipment to several other construction projects in illegal Israeli settlements. For example, Africa Israel subsidiary P.L.H. Lighting Engineering has supplied steel lighting poles for the road leading to the illegal settlements of Gush Etzion, for the al-Ji illegal military checkpoint, and for the Jerusalem Light Rail, which cuts through occupied East Jerusalem. Since 2020, P.L.H. Lighting Engineering hasn't been a subsidiary of Africa Israel; however, Lapidoth Capital expressed interest in acquiring it in 2022.

Economic Activism Highlights

A growing number of European banks and pension funds are divested from Africa-Israel because of the company’s role in illegal settlement construction on Palestinian land.

  • On March 9, 2016, Palestinian activists led by Bassem al-Tamimi filed a $34.5 billion civil lawsuit in D.C. against individuals and companies that have been "funding violent settlement activities in occupied Palestine." The lawsuit names several defendants, including G4S, RE/MAX, Africa Israel Investments, Motorola, Volvo, Ahava Dead Sea Laboratories, Oracle Corp., and Hewlett Packard Enterprise. 

  • In February 2014, Luxembourg’s national pension fund excluded Africa-Israel from its list of investments, citing the company’s “association [with] construction of illegal settlements in occupied territories (State of Palestine).”
  • Also in 2014, Swedish’s largest bank, Nordea, began an engagement with Africa-Israel.
  • Danish pension fund PKA Ltd. divested from Africa-Israel in 2010 over its role in settlement building.
  • In 2010, Sweden’s largest asset manager Folksam confirmed that it did not have holdings in Africa-Israel because of its “policy regarding activity on occupied land.”
  • In 2010, Norway’s primary pension fund, worth almost $900 billion, excluded Africa-Israel from its portfolio because of “serious violations of individual rights in war or conflict through the construction of settlements in East Jerusalem.”  
  • Danske Bank excluded Africa-Israel in 2010 because of its “construction activities in conflict with international humanitarian law.”
  • In 2009 retirement fund giant TIAA-CREF announced it had divested all of its shares in Africa Israel, after a campaign by the Coalition for Justice in the Middle East which charged that "Africa-Israel, principally owned by real estate and diamond magnate Lev Leviev, is building and maintaining illegal Israeli settlements on occupied Palestinian land."
  • In 2009, Black Rock Bank sold its shares in Africa-Israel after pressure from three Scandinavian banks. A spokeswoman stated that the decision was made “in compliance with laws and regulations.”
  • In 2009, the British embassy in Tel Aviv decided not to rent office space from Africa-Israel, citing its "construction work in West Bank settlements.”
Unless specified otherwise, the information in this page is valid as of
24 August 2022