Progressive Pockets: a podcast about the untapped power of our wallets to build the world we want
A podcast at the intersection of social impact and personal finance that covers questions of how we might spend, donate, and invest more in line with our values.
Hosted by Genet "GG" Gimja
Formerly known as the Spend Donate Invest Podcast
Progressive Pockets: a podcast about the untapped power of our wallets to build the world we want
133. How a group of students convinced their university to divest from apartheid
This week let’s talk about a wildly successful student campaign to convince universities across America to divest from South Africa’s apartheid. This mini history lesson includes efforts from students at historically Black colleges and universities (HBCUs), Harvard University, Johns Hopkins, Princeton, Stanford, the University of California system, UNC Chapel Hill, and more.
This episode also briefly touches on the campaigns that have come after the anti-apartheid effort such as fossil fuel divestment, prison divestment and other current student campaigns.
Links from today’s episode:
15 National Universities With the Biggest Endowments | US News & World Report Oct 2023
The Anti-Apartheid Movement in the United States Was Fueled By Student Activists by Rita Omokha Teen Vogue May 9, 2024
https://www.teenvogue.com/story/anti-apartheid-movement-united-states
Contemporary Divestment Campaigns: Tufts University Prison Divestment
https://sites.tufts.edu/prisondivestment/contemporary-divestment-campaigns/
ICYMI another episode you might enjoy:
Episode#123 Title (recorded before the 2024 rebranding of this show)
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Welcome to Progressive Pockets! I go by GG, that’s short for Genet Gimja. This is a show exploring a hunch that I have, that we are leaving some of our power on the table to create the world we want. When we talk about changing society, I think the conversation naturally goes to voting and pushing for policy change and all of that is critical.
But, in the meantime, as we push for greater reform, I wonder if there are some subtle shifts we can make with our wallets that can reinforce those other actions. Can we spend in line with how we vote? Can we bank in line with how we show up as an ally in our communities? Can we invest for retirement in line with our desire for the planet?
I recently got a question about divesting. And that sent me down a rabbit hole. I thought you might be interested too, so here we go.
So what do we mean by divesting? To divest means to sell off a business or an investment. It can also mean to free yourself, for example to free yourself from some of your possessions.
When we think about divesting on college campuses what we are talking about is what happens with all of the money that a university holds and getting rid of some of those investments.
University endowments can be huge.
Harvard University: $53.2 billion
University of Michigan–Ann Arbor: $16.8 billion
Spelman College $377.9 million
For public four-year institutions, the median endowment is around $35.4 million. The idea behind an endowment is that this money can create financial stability for themselves, to reduce their reliance on outside funding like tuition or government funding. Endowments are meant to provide financial aid to current and future students. All good things. Now does a university need $50 billion in these reserves? They would say yes, they do!
These endowments aren’t sitting in savings accounts, they are being invested. Investing is a political act. There are decisions to be made. Are there certain companies to avoid? Certain companies to prioritize investing in?
You are likely familiar with the anti-apartheid struggle and the eventual collapse of this racist system in South Africa. But what you may not know is the crucial role that university students in America played in pressuring the South African government through boycotts and divestment campaigns.
Today, we're going to explore how this movement unfolded, its impact, and what lessons it might hold for today's generation of student organizers.
The roots of the campus anti-apartheid movement stretch back to the late 1960s, but it really gained momentum in the late 1970s and early 1980s.
By the end of the movement, over 100 campuses had successfully lobbied their colleges to take divestment actions against South Africa.
Students at historically black universities and colleges were critical to this movement.
Students from Spelman and Morehouse to Howard University and Tuskegee University organized protests, strikes, teach-ins, boycotts, and similar divestment campaigns: They called for their school administrators and American businesses to withdraw their billions in investment from companies tied to South Africa, hoping to cripple the nation’s economy, which would then force the end of apartheid.
They disrupted speeches when South African politicians visited America.
They barricaded schools and other business buildings.
They sent letters of solidarity to South African activists, raised money for the ANC, and organized concerts and other events to benefit them.
On campus lawns, students constructed shantytown replicas that attracted national media attention and reflected the debilitated conditions of Black South Africans.
HBCU students formed a national coalition to better coordinate student activism against apartheid and raise awareness across all campuses. Other campuses followed suit: the University of California formed the Campuses United Against Apartheid, and Washington University founded Action Against Apartheid.
These coalitions organized impactful nationwide protests, like the boycott of South African goods, and lobbied the government to impose economic sanctions on South Africa.
Activities like this took place at American universities across the country.
In the late 70s, students at Columbia University held a sit-in demanding the university divest from companies doing business in South Africa.
In the mid to late 80s, the Anti-Apartheid Support Group at UNC-Chapel Hill was formed and after a couple of years of sustained student pressure, UNC Chapel Hill officially divested from South African companies.
Student protests continued at Columbia University, Cornell University, and UC Berkeley.
The Coalition for a Free South Africa forms at Johns Hopkins University, leading to a selective divestment resolution. So not full divestment, but some at least.
The student government at the University of California system voted to divest $3.1 billion from companies with ties to South Africa. This was a huge victory that inspired similar campaigns at universities across the country. By 1986, over 40 campuses had passed divestment resolutions.
The students were incredibly creative and persistent in their tactics. They organized boycotts of classes, sit-ins at administrative buildings. They also used shareholder resolutions, lobbying, and public awareness campaigns.
One of the most powerful tactics was the "divestment pledge" where students vowed not to donate to their alma maters until they divested. This hit universities where it hurt - in the pocketbook. The students also built coalitions with faculty, staff, and community groups to amplify their demands.
It's so inspiring how much of an impact these student movements had, even at old, stodgy, elite universities. I think there are a few key factors that account for their success:
First, the students were tapping into a growing global anti-apartheid movement that was gaining momentum. The cause resonated with people around the world who were outraged by the injustice of apartheid.
Second, the students were very strategic in their tactics, escalating pressure over time. They built broad coalitions and kept the issue in the public eye through creative protests. And they were willing to take bold actions like occupying buildings.
But perhaps most importantly, the students were able to make a strong moral case that universities should not be profiting from or supporting an unjust and racist regime. They appealed to the institutions' values and sense of social responsibility. And they refused to back down.
The students really changed the conversation and made it politically unsustainable for universities to maintain business as usual with apartheid South Africa. Even when schools didn't fully divest, the campaigns still had a major impact in putting pressure on the regime.
And the movement had ripple effects beyond the campuses. It built public awareness and support for sanctions against South Africa. It inspired similar divestment campaigns targeting other injustices. And it showed the power of grassroots organizing to hold powerful institutions accountable.
As we wrap up, I think there are several important lessons from this history that are relevant for today's student activists.
First, never underestimate the power of student activism. Young people have the energy, idealism and moral clarity to drive social change. When students organize, they can shift the terms of debate and force institutions to respond.
Second, build broad coalitions and appeal to shared values. The anti-apartheid divestment movement succeeded in part because it brought together diverse groups - students, faculty, staff, community members - around a common cause. And they made a compelling moral argument that resonated beyond the campus.
And finally, be persistent and escalate pressure over time. Change doesn't happen overnight. The divestment campaigns built momentum through years of sustained organizing, creative tactics, and a willingness to take bold action. They refused to back down in the face of resistance.
I thought I’d wrap up here, but it feels incomplete to not talk about what this student led anti-apartheid divestment movement sparked.
I want to share quickly about the fossil fuel divestment campaign that happened in the 2010s and continues today. And then I want to talk briefly about the campaigns that have sprung up since then.
Building on the legacy of the anti-apartheid movement, students began calling for divestment from fossil fuel companies in the early 2010s.
In 2011-2012: Hampshire College and Unity College became among the first if not the first U.S. colleges to fully divest from fossil fuels.
In 2022 Princeton University divested from 90 companies involved in certain segments of the fossil fuel industry after sustained student pressure.
Over 100 U.S. colleges and universities have committed to divesting from fossil fuels, either partially or fully.
For example:
- New York University (NYU): Recently committed to full divestment from all fossil fuel companies.
- University of California system: Fully divested from fossil fuels.
- Harvard University: Announced plans to divest its $41.9 billion endowment from fossil fuels in 2021.
- Stanford University: Committed to fossil fuel divestment.
- Princeton University: Announced divestment from fossil fuels.
So that’s the student led fossil fuel divestment campaign. Students have also been campaigning for universities to divest from companies involved in the prison industrial complex.
In 2014, Columbia University students launched the Columbia Student Divest campaign.
In 2015, Columbia University divested $8 million in stock holdings from CoreCivic, a major private prison company. We talked about them in episode 125.
In 2015: The University of California system divested $30 million from the private prison industry.
More recently, some student activists have been calling for divestment from companies profiting from Israel's actions in Gaza. This movement draws inspiration from and often overlaps with other divestment campaigns.
So to today's student activists, I say: keep pushing. Dream big, organize strategically, build coalitions. You have the power to change things. The anti-apartheid divestment movement proved that. Time to write the next chapter.
Today we talked about student-led divestment campaigns starting with the big one that started it all, the anti-apartheid campaign. I love reflecting back on this history because it is a reminder that we as individuals can take actions that become movements that become systemic change.
If you have more time today, here’s another episode to check out episode 123 called Poor People’s Campaign. That’s another very short history lesson with an update on what’s in the works now.
I’d love if you would send this episode to someone who you think may appreciate it. Word of mouth is really how indie podcasts grow, so I could use the hand. Thank you for that!
Let’s end with a quote, this one comes from Angela Davis.
“I am no longer accepting the things I cannot change. I am changing the things I cannot accept.”
Let’s talk again soon!