After Sanctions - What Next? Report on Meetings arranged by The Africa Fund for the African National Congress led Delegation October 4-6, 1993

by The Africa Fund
New York, New York, United States
Late November or early December 1993
12 pages
Type: Report
Coverage in Africa: South Africa
Coverage outside Africa: United States
Language: English
The report says days after Nelson Mandela called for the lifting of economic sanctions at the U.N., The Africa Fund hosted a series of meetings to enable the African National Congress (ANC) and its allies to explain to key legislators, institutional investors and investment advisors post-sanctions policy towards foreign investment. The report says the meetings are part of a longer term program to work with states, counties, cities and other investors in support of socially responsible investment aimed at overcoming the legacy of apartheid. The report says The Africa Fund organized a briefing, South Africa: Portfolio Investment Vehicles for Socially Responsible Investing After Sanctions, in cooperation with the New York City chapter of the Social Investment Forum. The report says a meeting was in conjunction with the Interfaith Center on Corporate Responsibility. Since the conclusion of these meetings, The Africa Fund has followed up with a series of activities: Executive Director Jennifer Davis wrote to approximately three hundred state and municipal legislators urging them to lift their sanctions and to adopt new policies aimed at addressing the legacy of apartheid, Africa Fund staff have made and received hundreds of telephone calls and sent numerous faxes to state, county and city officials to encourage prompt action on the lifting of sanctions, and Projects Director Dumisani Kumalo attended a conference organized on November 2-4 by the Treasurer of Los Angeles to brief attendees on the lifting of sanctions. The report says South African participants included: Taffy Adler, Chief Executive Officer, The Land Investment Trust; Irene Barendilla, Retirement Fund Coordinator of the National Union of Mineworkers and Director, Community Growth Fund; Cheryl Carolus, National Executive Committee, African National Congress; John Copelyn, General Secretary, South African Clothing and Textile Workers Union; Alec Erwin, National Union of Metalworkers of South Africa and COSATU representative to the National Economic Forum; Dave Geary, Independent Development Unit; Rev. John Lamola, South African Council of Churches; Trevor Manuel, Head, Department of Economic Planning, African National Congress; Neil Morrison, Department of Economics, African National Congress; Jay Naidoo, General Secretary, Congress of South African Trade Unions (COSATU); Tommy Oliphant, General Secretary, Metal and Electrical Workers Union of South Africa and Director, Community Growth Fund; and Daan Wandrag, Community Banking Project. The report says state and city official participants included: Will Chapman, Port Authority of New York and New Jersey; William Dyson, State Assemblyman, Connecticut; Joseph Newsome, State Assemblyman, Rhode Island; Carol O'Clearicain, Budget Director New York City; Marla Simpson, Counsel to Manhattan Borough President Ruth Messenger, New York City; Joan Spector, City Councilmember, Philadelphia, Pennsylvania; Al Vann, State Assemblyman, New York; and Jaime Vazquez, City Councilmember, Jersey City, New Jersey. The reports says participants in the meeting on housing finance included: Kathryn Wylde, President, New York City Housing Partnership; Tom Bettridge, Director, Division of Targeted Investments, Office of the Comptroller, The City of New York; and Rudy Bryand, Pratt Institute, Center for Community and Environmental Development. The report says Dumisani Kumalo, Projects Director, chaired the consultation with senior state and city officials and the briefing on socially responsible investing after sanctions; and Richard Knight, Research Associate, coordinated these meetings. The report includes a copy of a letter from African National Congress President Nelson Mandela; a letter from Lisa Leff of Greenwich Street Advisors on behalf of Smith Barney Shearson and the New York Metro chapter of the Social Investment Forum to Richard Knight; and a letter from John Ray, Chairman Pro Tem, Council of the District of Columbia to Jennifer Davis. The report includes two newspaper articles: "COLLEGES REVERSE DIVESTMENT PLANS Decline of Apartheid Sparks New Look at Companies With South Africa Ties" and "Reinvesting in S. Africa, Mandela's call gets fast reply" by Rodd Zolkas. • Summary • Consultation with Senior State and City Officials • Lunch at The Port Authority of New York and New Jersey • Socially Responsible Investing After Sanctions • New York City Department of Finance • Meeting on Housing Finance • Religious Investors • Follow up • Meeting Attendees • South African Participants • U.S. Participants • Consultation with Senior State and City Officials • Meeting on Housing Finance • The Africa Fund
This item was digitized for Aluka, which made it available to the African Activist Archive.
Used by permission of Africa Action (successor to The Africa Fund).
Collection: Africa Action Archive