Full Description:
A grassroots strategy aimed at pressuring corporations, universities, and governments to withdraw their financial assets from companies doing business in South Africa. It turned the fight against Apartheid into a global moral crusade.
Divestment was a strategy of economic shaming. Student activists and religious groups targeted the flow of capital, arguing that anyone investing in South Africa was complicit in the regime’s crimes. This led to major multinationals pulling out of the country, causing a capital flight that panicked the South African government.
Critical Perspective:
This movement challenged the neoliberal idea that capital is “neutral.” It successfully politicized the stock market, forcing shareholders to acknowledge the moral dimension of their profits. It demonstrated that even without government support, civil society could effectively disrupt the economic lifelines of an authoritarian state.
