Abstract
In this chapter, we study the return on investment in companies operating in Central or Southern Africa. This includes not only companies operating in Northern and Southern Rhodesia but also investments in some of the neighbouring countries, such as Belgian Congo. The chartered British South Africa Company was initially the largest company in the sample, but its relative dominance faded during the early decades of the twentieth century, as the number of companies operating in the region and traded on the London Stock Exchange expanded. Investments remained focussed on the mining sector throughout the studied period. Similar to the previous two chapters, we put our estimates into their historical context, drawing heavily on previous research. We also contribute to the historiography of the region by providing evidence on the actual return on investment, which generally has been lacking in previous research.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Alford, B.W.E., and Charles Harvey. 1980. Copperbelt Merger: The Formation of the Rhokana Corporation, 1930–1932. Business History Review 54 (3): 330–358.
Arrighi, Giovanni. 1970. Labour Supplies in Historical Perspective: A Study of the Proletarianization of the African Peasantry in Rhodesia. The Journal of Development Studies 6 (3): 197–234.
Berger, Elena L. 1974. Labour, Race, and Colonial Rule: The Copperbelt from 1924 to Independence. Oxford: Clarendon Press.
Bessant, Leonard Leslie. 1992. Coercive Development: Land Shortage, Forced Labor, and Colonial Development in the Chiweshe Reserve, Colonial Zimbabwe, 1938–1946. The International Journal of African Historical Studies 25 (1): 39–65.
Bowen, D.J. 1980. Gold Mines of Mashonaland 1890–1980. Salisbury: Thomson Publications.
Bradley, Kenneth. 1952. Copper Venture: The Discovery and Development of Roan Antelope and Mufulira. London: Mufulira Copper Mines Ltd and Roan Antelope Copper Mines Ltd.
Butler, L.J. 2007a. Business and British Decolonisation: Sir Ronald Prain, the Mining Industry and the Central African Federation. Journal of Imperial and Commonwealth History 35 (3): 459–484.
———. 2007b. Copper Empire: Mining and the Colonial State in Northern Rhodesia, c.1930–64. New York: Palgrave Macmillan.
Cleveland, Todd. 2014. Stones of Contention: A History of Africa’s Diamonds. Athens, OH: Ohio University Press.
Coleman, Francis L. 1971. The Northern Rhodesia Copperbelt 1899–1962: Technological Development up to the End of the Central African Federation. Manchester: Manchester University Press.
Cooper, Frederick. 1996. Decolonization and African Society: The Labor Question in French and British Africa. Cambridge: Cambridge University Press.
Coulson, Michael. 2012. The History of Mining: The Events, Technology and People Involved in the Industry That Forged the Modern World. Petersfield: Harriman House.
Davenport, Jade. 2013. Digging Deep: A History of Mining in South Africa, 1852–2002. Johannesburg: Jonathan Ball Publishers.
Flint, John. 1976. Cecil Rhodes. London: Hutchinson.
Frederiksen, Tomas. 2013. Seeing the Copperbelt: Science, Mining and Colonial Power in Northern Rhodesia. Geoforum 44: 271–281.
Galbraith, John. 1973. Origins of The British South Africa Company. In Perspectives of Empire. Essays Presented to Gerald S. Graham, ed. John E. Flint and Glyndwr Williams, 148–171. London: Longman.
———. 1974. Crown and Charter: The Early Years of the British South Africa Company. Berkeley: University of California Press.
Gann, Lewis H. 1958. The Birth of a Plural Society: The Development of Northern Rhodesia under the British South Africa Company 1894–1914. Manchester: Manchester University Press.
———. 1964. A History of Northern Rhodesia: Early Days to 1953. London: Chatto & Windus.
———. 1965. A History of Southern Rhodesia: Early Days to 1934. London: Chatto & Windus.
Gibbs, David. 1997. International Commercial Rivalries & the Zaïrian Copper Nationalisation of 1967. Review of African Political Economy 24 (72): 171–184. https://doi.org/10.1080/03056249708704251.
Guene, Enid. 2017. Copper, Borders and Nation-Building: The Katangese Factor in Zambian Political and Economic History. Leiden: African Studies Centre.
Henderson, Ian. 1973. Wage-Earners and Political Protest in Colonial Africa: The Case of the Copperbelt. African Affairs 72 (288): 288–299.
———. 1974. The Limits of Colonial Power: Race and Labour Problems in Colonial Zambia, 1900–1953. The Journal of Imperial and Commonwealth History 2 (3): 294–307.
———. 1975. Early African Leadership: The Copperbelt Disturbances of 1935 and 1940. Journal of Southern African Studies 2 (1): 83–97.
Higginson, John. 1988. Disputing the Machines: Scientific Management and the Transformation of the WorkRoutine at the Union Miniere Du Haut-Katanga, 1918–1930. African Economic History 17: 1–21.
Innes, Duncan. 1983. Anglo American and the Rise of Modern South Africa. London: Heinemann Educational.
Juif, Dácil, and Ewout Frankema. 2018. From Coercion to Compensation: Institutional Responses to Labour Scarcity in the Central African Copperbelt. Journal of Institutional Economics 14 (s2): 313–343.
Katzenellenbogen, Simon. 1973. Railways and the Copper Mines of Katanga. Oxford: Clarendon press.
Keppel-Jones, Arthur. 1983. Rhodes and Rhodesia: The White Conquest of Zimbabwe 1884–1902. Kingston: McGill-Queen’s University Press.
Larmer, Miles. 2017. Permanent Precarity: Capital and Labour in the Central African Copperbelt. Labor History 58 (2): 170–184.
Laurie, Alexander Charles. 2008. Every Man Has His Price: The Story of Collusion and Corruption in the Scramble for Rhodesia. Lanham: University Press of America.
Lekime, Fernand. 1992. La Mangeuse de Cuivre: La Saga de l’Union Minière Du Haut-Katanga 1906–1966. Brussels: Didier Hatier.
Loney, Martin. 1975. Rhodesia: White Racism and Imperial Response. Harmondsworth: Penguin.
Machingaidze, Victor. 1991. Agrarian Change from Above: The Southern Rhodesia Native Land Husbandry Act and African Response. The International Journal of African Historical Studies 24 (3): 557–588.
Madimu, Tapiwa, Enocent Msindo, and Sandra Swart. 2018. Farmer–Miner Contestations and the British South Africa Company in Colonial Zimbabwe, 1895–1923. Journal of Southern African Studies 44 (5): 793–814.
Mlambo, A.S. 2014. A History of Zimbabwe. New York: Cambridge University Press.
Mseba, Admire. 2016. Law, Expertise, and Settler Conflicts over Land in Early Colonial Zimbabwe, 1890–1923. Environment and Planning 48 (4): 665–680.
———. 2018. Late Precolonial Struggles, European Expansion, and the Making of Colonial Authority in Northeastern Zimbabwe, ca. 1840–1903. International Journal of African Historical Studies 51 (2): 243–262.
Newbury, Colin. 1989. The Diamond Ring: Business, Politics and Precious Stones in South Africa, 1867–1947. Oxford: Clarendon Press.
Nyamunda, Tinashe. 2017. Money, Banking and Rhodesia’s Unilateral Declaration of Independence. The Journal of Imperial and Commonwealth History 45 (5): 746–776.
Palmer, Robin. 1977. Land and Racial Domination in Rhodesia. London: Heinemann.
Parpart, Jane L. 1983. Labor and Capital on the African Copperbelt. Philadelphia: Temple University Press.
———. 1987. Class Consciousness among the Zambian Copper Miners, 1950–1968. Canadian Journal of African Studies/La Revue Canadienne Des Études Africaines 21 (1): 54–77.
Perrings, Charles. 1977. Consciousness, Conflict and Proletarianization: An Assessment of the 1935 Mineworkers’ Strike on the Northern Rhodesian Copperbelt. Journal of Southern African Studies 4 (1): 31–51.
———. 1979. Black Mineworkers in Central Africa: Industrial Strategies and the Evolution of an African Proletariat in the Copperbelt 1911–41. London: Heinemann.
Phillips, John. 2009. Alfred Chester Beatty: Mining Engineer, Financier, and Entrepreneur, 1898–1950. In Mining Tycoons in the Age of Empire, 1870–1945: Entrepreneurship, High Finance, Politics and Territorial Expansion, ed. Raymond Dumett, 215–238. Farnham: Ashgate.
Phimister, Ian. 1974. Rhodes, Rhodesia and the Rand. Journal of Southern African Studies 1 (1): 74–90.
———. 1975. African Labour Conditions and Health in the Southern Rhodesian Mining Industry, 1898–1953. Part One: Accommodation. Central African Journal of Medicine 21 (10): 214–220.
———. 1976a. African Labour Conditions and Health in the Southern Rhodesian Mining Industry, 1898–1953. Part Three: Health. Central African Journal of Medicine 22 (9): 173–179.
———. 1976b. African Labour Conditions and Health in the Southern Rhodesian Mining Industry, 1898–1953. Part Two: Diet. Central African Journal of Medicine 22 (4): 63–68.
———. 1976c. The Reconstruction of the Southern Rhodesian Gold Mining Industry, 1903–10. The Economic History Review 29 (3): 465–481.
———. 1988. An Economic and Social History of Zimbabwe, 1890–1948: Capital Accumulation and Class Struggle. London: Longman.
———. 1992. Coal, Crisis, and Class Struggle: Wankie Colliery, 1918–22. The Journal of African History 33 (1): 65–86.
———. 1994. Wangi Kolia: Coal, Capital and Labour in Colonial Zimbabwe 1894–1954. Johannesburg: Witwatersrand University Press.
———. 2011. Corporate Profit and Race in Central African Copper Mining, 1946–1958. Business History Review 85 (4): 749–774.
———. 2015. Late Nineteenth-Century Globalization: London and Lomagundi Perspectives on Mining Speculation in Southern Africa, 1894–1904. Journal of Global History 10 (1): 27–52.
Pilossof, Rory. 2014. Labor Relations in Zimbabwe from 1900 to 2000: Sources, Interpretations, and Understandings. History in Africa 41: 337–362.
Pollak, Oliver. 1975. Black Farmers and White Politics in Rhodesia. African Affairs 74 (296): 263–277.
Porter, Bernard. 2012. The Lion’s Share – A History of British Imperialism 1850 to the Present. 5th ed. London: Routledge.
Raftopoulos, Brian. 1997. The Labour Movement in Zimbabwe: 1945–1965. In Keep on Knocking: A History of the Labour Movement in Zimbabwe 1900–97, ed. Brian Raftopoulos and Ian Phimister, 55–90. Harare: Baobab Books.
Ranger, T.O. 1967. Revolt in Southern Rhodesia 1896–7: A Study in African Resistance. London: Heinemann.
Renton, Dave, David Seddon, and Leo Zeilig. 2007. The Congo: Plunder and Resistance. London: Zed.
Roberts, Andrew D. 1982. Notes towards a Financial History of Copper Mining in Northern Rhodesia. Canadian Journal of African Studies/La Revue Canadienne Des Études Africaines 16 (2): 347–359.
Robinson, Ronald Edward, and John Gallagher. 1968. Africa and the Victorians: The Climax of Imperialism. New York: Anchor Books.
Ross, Corey. 2017. Ecology and Power in the Age of Empire: Europe and the Transformation of the Tropical World. Oxford: Oxford University Press.
Rotberg, Robert. 1988. The Founder: Cecil Rhodes and the Pursuit of Power. Oxford: Oxford University Press.
Särkkä, Timo. 2016. The Lure of Katanga Copper: Tanganyika Concessions Limited and the Anatomy of Mining and Mine Exploration 1899–1906. South African Historical Journal 68 (3): 318–341.
Schmitz, Christopher. 1986. The Rise of Big Business in the World Copper Industry 1870–1930. The Economic History Review 39 (3): 392–410.
Schreuder, D.M. 1980. The Scramble for Southern Africa, 1877–1895: The Politics of Partition Reappraised. Cambridge: Cambridge University Press.
Selolwane, O. 1980. Colonization by Concession: Capitalist Expansion in the Bechuanaland Protectorate. 1885–1950. Pula: Botswana Journal of African Studies 2 (1): 75–124.
Slinn, Peter. 1971. Commercial Concessions and Politics during the Colonial Period: The Role of the British South Africa Company in Northern Rhodesia 1890–1964. African Affairs 70 (281): 365–384.
Stoever, William A. 1985. A Business Analysis of the Partial Nationalization of Zambia’s Copper Industry, 1969–1981. Journal of International Business Studies 16 (1): 137–163.
Union Minière Du Haut Katanga 1906–1956. 1956. Brussels: Éditions L. Cuypers.
Van Onselen, Charles. 1974. The 1912 Wankie Colliery Strike. The Journal of African History 15 (2): 275–289.
———. 1975. Black Workers in Central African Industry: A Critical Essay on the Historiography and Sociology of Rhodesia. Journal of Southern African Studies 1 (2): 228–246.
———. 1976. Chibaro: African Mine Labour in Southern Rhodesia 1900–1933. London: Pluto Press.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2019 The Author(s)
About this chapter
Cite this chapter
Rönnbäck, K., Broberg, O. (2019). Central/Southern Africa. In: Capital and Colonialism. Palgrave Studies in Economic History. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-19711-7_10
Download citation
DOI: https://doi.org/10.1007/978-3-030-19711-7_10
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-19710-0
Online ISBN: 978-3-030-19711-7
eBook Packages: Economics and FinanceEconomics and Finance (R0)