Public Investment and South Africa Newsletter
by American Committee on Africa
New York, New York, United States
The newsletter reports on a string of impressive victories won by the divestment movement over the last few months, including California's record $12 billion-plus divestment law, the passage of limited sanctions over a presidential veto, and wave after wave of corporate "pull-outs." As a response to the various pressures, many companies doing business in South Africa have ended their direct investment there but have maintained mutually profitable ties with the apartheid economy. The newsletter reports ACOA and other national anti-apartheid organizations have formulated guidelines to help determine whether a company is still doing business in or with South Africa, which are included. This statement was issued by American Committee on Africa, American Friends Service Committee, Interfaith Center on Corporate Responsibility, TransAfrica, and Washington Office on Africa. The newsletter says some companies that have not fully withdrawn include International Business Machines (IBM), General Motors, and Coca-Cola. Contents: Divestment Actions Must Target Franchise and Licensing Agreements As Well As Direct Investment • Statement on U.S. Companies and South Africa • Guidelines for Divestment • Some Companies That Have Not Fully Withdrawn • Some Companies That Have Ended All Business Ties
This item was digitized for Aluka, which made it available to the African Activist Archive.
Used by permission of Africa Action (successor to the American Committee on Africa).
Collection: Africa Action Archive