Word: africas
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Dates: during 1990-1999
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Throughout the '80s, Harvard professors for the most part avoided involvement with South Africa in protest of apartheid, and then-president Derek C. Bok was a vocal supporter of work by the U.S. to prompt reform in South Africa...
...University was slow to pull its own investments out of companies doing business in South Africa, insisting that through its proxy votes, it could more effectively fight apartheid than by purging stocks from its portfolio. But after a decade of protests, Harvard did adopt a policy of selective divestment, and by the end of the '80s was almost completely out of South Africa...
...after the abolition of apartheid in 1993, Harvard is reinvesting in South Africa, and Harvard's professors are turning their interest toward the country as well...
Nevertheless, later that year the University adopted its first guidelines on investment in South Africa. By 1985 these rules, which were reviewed periodically, called for the University to use its proxy votes to urge companies operating in South Africa to "take active steps to oppose apartheid...
...banks that made loans to the South African government and companies that provided "significant quantities of an important good or service used in the direct enforcement of apartheid." The policy also promised a divestment of stock in companies that refused to disclose the extent of their operations in South Africa...