State Capitalisms in Southern Africa: Colonial Rule, Capitalist Development, and Class Formation in Namibia, South Africa, and Zimbabwe, 1880s–2020s
By Lucien van der Walt, Rhodes University, South Africa, l.vanderwalt@ru.ac.za | Gilton Klerck, Rhodes University, South Africa, g.klerck@ru.ac.za | Kirk Helliker, Rhodes University, South Africa, k.helliker@ru.ac.za | Gorden Moyo, University of Fort Hare, South Africa, gmoyo@ufh.ac.za
Abstract
This study rethinks the political economy of Namibia, South Africa, and Zimbabwe through the lens of state capitalism. Tracing developments from merchant colonialism to neoliberalism, it identifies successive, distinct forms of state-capital hybrids shaped by colonial legacies, industrialisation, and state structures. Drawing on historical institutionalism, the study argues that national variations in state capitalism arise from implementation within specific political and social contexts, rather than formal policy design. By integrating African cases into broader debates, it challenges dominant Western–Eastern binaries and highlights the region’s relevance for theorising state capitalism and its implications for corporate governance in diverse developmental trajectories.
State Capitalisms in Southern Africa: Colonial Rule, Capitalist Development, and Class Formation in Namibia, South Africa, and Zimbabwe, 1880s–2020s
State Capitalisms in Southern Africa offers a groundbreaking reappraisal of Namibia, South Africa, and Zimbabwe through the lens of evolving forms of state capitalism. From colonial charter companies to post-independence parastatals and financial institutions, this monograph traces how successive state-capital hybrids have shaped economic development, class formation, and corporate governance across the region. Challenging dominant narratives that center Western and Eastern models, the authors draw on historical institutionalist approaches to show how national contexts drive variation within seemingly similar economic forms. By mapping distinct eras of capitalism—merchant colonialism, import-substitution industrialization, neoliberalism, and militarized accumulation—this study reveals how African cases both enrich and complicate global debates on state capitalism. Engaging deeply with neglected African histories, this is a timely contribution to political economy literature that underscores the centrality of the state in shaping economic trajectories and governance systems in the Global South.
