The American Committee on Africa (ACOA) reports that laws passed last year in Massachusetts, Michigan, Connecticut and Philadelphia will force the withdrawal of up to $300 million in public funds from companies doing business in South Africa. Founded in 1953, the ACOA has become a national leader in the fight for divestment legislation. Church people were instrumental in starting ACOA, and the executive board includes persons from many of the main-line Protestant churches. ACOA also works with the National Council of Churches and the NCC-sponsored Interfaith Center on Corporate Responsibility (ICCR), and it receives support from churches, trade unions, individuals and small foundations. ACOA...
The American Committee on Africa (ACOA) reports that laws passed last year in Massachusetts, Michigan, Connecticut and Philadelphia will force the withdrawal of up to $300 million in public funds from companies doing business in South Africa. Founded in 1953, the ACOA has become a national leader in the fight for divestment legislation. Church people were instrumental in starting ACOA, and the executive board includes persons from many of the main-line Protestant churches. ACOA also works with the National Council of Churches and the NCC-sponsored Interfaith Center on Corporate Responsibility (ICCR), and it receives support from churches, trade unions, individuals and small foundations. ACOA founding member George Houser, a United Methodist minister, served as executive director of the committee until 1981. In 1981, the ACOA initiated a Conference on Public Investment and South Africa, attended by some 200 state and municipal legislators, trade unionists, church leaders, investment experts and grass-roots activists. ACOA staff members testified for each of the successful divestment bills. ACOA projects director, Dumisani Kumalo, an exiled black South African journalist, has criss-crossed the country for the last three years speaking with legislators and concerned organizations about public investment and South Africa. The Massachusetts law, enacted over a veto by former Gov. Edward King, may have the greatest significance. It requires all state pension funds to sell stocks and bonds in companies doing business in South Africa. An estimated $100 million of securities will be sold. The law received strong support over three years from the Massachusetts Coalition for Divestment from South Africa (Mass. Divest), a statewide coalition of civil rights, religious, labor and community groups. Philadelphia's city council unanimously approved a divestment ordinance on June 4, which was promptly signed by Mayor William Green, making Philadelphia the first major U.S. city to take such action. Michigan adopted legislation in December requiring public educational institutions in the state to sell all investments in corporations operating in South Africa. Connecticut passed a law in June which is expected to result in the sale of $70 million worth of securities in South Africa-related corporations. The article also mentions Minneapolis, St. Paul, colleges, and universities.
