The Regents have removed the restriction on the University’s equity investments in companies operating in South Africa. The restriction in support of anti-apartheid efforts, in place since 1983, was removed at their November meeting.
The Board adopted a resolution, noting, among other things: “Nelson Mandela, the leader of the African National Congress, in an address to the United Nations Special Committee Against Apartheid on Sept. 4, 1993, called for an end to economic sanctions, declaring, ‘To strengthen the forces of democratic change, and to help create the necessary conditions for stability and social progress, we believe that the time has come when the international community should lift all economic sanctions against South Africa.’
“President Clinton eliminated remaining U.S. trade sanctions and indicated that his administration will encourage investment in South Africa, stating, ‘This call from this courageous man who has been one of the principal victims of apartheid means that the leading groups in South Africa now oppose the maintenance of economic sanctions on their country.’”
The Regents directed Farris W. Womack, executive vice president and chief financial officer, to take “prudent action to effect the change in investment policy.”
