News Archives » Africa
Victory Against Vulture Funds! July 23rd, 2012
Jubilee USA Stopped Vulture Funds in New York State; Courts Stopped Them in the UK
In June, Jubilee USA – of which OMI JPIC is a member – launched a campaign to stop vulture fund legislation from passing in the New York State Legislature. Vulture funds were attempting to get Bills through that would have promoted and protected vulture funds in New York State courts, making it easier for vultures to litigate against poor countries.
Jubilee mobilized more than 4,000 New York Jubilee members to take action, calling and writing their Assembly Members and Senators to stand with the poor and not with the hedge funds.
The Wall Street Journal’s Jacob Gersham wrote how important this work was: “The path became trickier for Elliott on Friday, when an alliance of religious groups that supports debt relief for developing nations, Jubilee USA Network, entered the fray by issuing a mass alert about the bill. It said the proposed law could be wielded in poorer regions and “litigate poor countries into submission.” Read the full article in the Wall Street Journal.
UK Courts Rule Against Vulture Funds, Support DR Congo
In a surprise decision in the Jersey Isles, the UK’s Privy Council overturned a prior ruling, siding with the Democratic Republic of Congo against vulture fund FG Hemisphere. FG Hemisphere was seeking $100 million from the DRC for a debt the vulture fund bought for just $3 million. While having initially lost the case, the DRC has won on final appeal. While the UK passed a law in 2010 limiting the amount a vulture fund could claim from impoverished countries, it did not apply to crown protectorates, like Jersey, where vultures funds could still pursue cases. This decision was pleasantly unexpected and a cause for celebration.
In Pursuit of Self Sustainability July 5th, 2012
There are now several community gardens in the Oblate world – the original OEI garden in Godfrey, Illinois, the new initiative at the Oblate headquarters in Washington, DC, and a community-oriented agriculture project in Zambia. We wanted to share this story of the Zambia initiative:
Zambia’s Oblate formation community moved to its new location in Makeni only in October last year. After seeing the poultry and the big field of vegetables in the back yard garden, the impression a first time visitor would have of the place is that the occupants may had been settled there for a longer period. The community in Makeni grows vegetables, not only for consumption but also for sale to the people around the community and to the city at large. Produce from the garden is sold at wholesale price in one of the city’s biggest market called Soweto, and in two other densely populated areas namely, Chawama and Kabwata. Efforts are also being made to sell the vegetables in one of the leading chain supermarkets.
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South African President Zuma Visits Archbishop Denis Hurley’s Tomb July 5th, 2012
South African President, Jacob Zuma visited Durban’s Emmanuel Cathedral on 19 April to pay tribute to Archbishop Denis Hurley’s contribution to South Africa’s liberation struggle by laying a wreath on his tomb. This was part of a national program of visits throughout South Africa to mark the centenary of the ANC’s foundation. The brief ceremony at the Cathedral began with Cardinal Wilfrid Napier, OFM, and other religious leaders greeting the President and his party at the entrance to the Cathedral and then escorting them to the Archbishop’s tomb in the Lady Chapel.
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Religious Groups Establish Principles to Promote Food Security June 18th, 2012
The Oblate JPIC office joined thirty development NGOs and faith-based organizations in a letter to the State Department, US AID and the White House celling for adherence to a set of principles to assure food security as the government engages increasingly in overseas agricultural Public Private Partnerships. The groups contend, “Because we know that how donors invest in agriculture is as important as the investments themselves, we urge the U.S. Government, as it partners with the private sector for the purpose of increasing food and nutrition security, to adopt the following principles:”
- Do no harm (to other public investments
- Respect the dignity of the human person
- Provide measurable benefits to smallholders
- Ensure sustainability
- Provide transparency and mechanisms for ongoing civil society participation
- Protect and prioritize local private sector actors
Read the letter for detail on the principles listed above (Download PDF)
Maryland Becomes the Second State to Pass Legislation on Congo Conflict Minerals May 25th, 2012
The state of Maryland has taken a definitive step toward curtailing the use and trade of conflict minerals from the Democratic Republic of Congo (DRC). On May 2, Governor Martin O’Malley signed the Maryland State Procurement and Congo Conflict Minerals Bill into law. Maryland is now the second state to adopt such legislation, following California’s example in September 2011. A similar bill is under consideration in Massachusetts.
Under the Maryland State Procurement and Congo Conflict law, the State of Maryland is prohibited from doing business with companies that do not comply with federal disclosure requirements on conflict minerals. Section 1502 of the Dodd Frank Wall Street Reform and Consumer Protection Act of 2010 is a disclosure requirement that calls on companies to determine whether their products contain conflict minerals by carrying out supply chain due diligence and to report this to the Securities and Exchange Commission.
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