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Virginia governor L. Douglas Wilder orders state agencies to divest themselves of business investments in companies not “substantively free” of economic activity in South Africa.
1990 (May 12)
Virginia governor L. Douglas Wilder ordered all of his state's agencies and institutions to divest themselves of business investments in companies not "substantively free" of economic activity in South Africa. Virginia officials estimated that such holdings amounted to more than $750 million. A large amount of this money was invested by the agency, which paid pensions to retired state employees. In announcing his actions, Governor Wilder said that Virginians should support the efforts of South African Blacks to break the chains of apartheid with the same vigor and enthusiasm that greeted the aspirations to freedom by people in China and Eastern Europe. He added: "If we are to participate in the extension to all peoples of the freedoms and liberties which we hold dear, we must take concrete actions which reflect our support." Wilder made his declarations in a commencement address at the predominantly Black Norfolk State University.
References:
- • Hornsby, Alton. Chronology of African-American History: Significant Events and People from 1619 to the Present. Detroit: Gale Research, 1995.