Masters Degrees (Centre for Africa Studies)
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Browsing Masters Degrees (Centre for Africa Studies) by Subject "Capital investments -- Zimbabwe"
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Item Open Access Foreign capital, state and the development of secondary industry in Southern Rhodesia, 1939-1956(University of the Free State, 2015-07) Gwande, Victor Muchineripi; Phimister, I. R.; Van Zyl-Hermann, D.English: This thesis is a detailed historical study that examines the nature and extent of foreign capital investment in Southern Rhodesia (modern-day Zimbabwe) between 1939 and 1956, with particular focus on the development of secondary industry. A number of scholars have commented that, with the exception of South Africa, no country was as dominated by foreign capital as Southern Rhodesia. However, this claim has not been investigated empirically in great depth. The study therefore offers an account of the development of secondary industry and also demonstrates the penetration of foreign capital into this sector. This thesis argues that, while the development of secondary industries had gathered momentum during the war years, the inflow of foreign capital into secondary industries really increased during the post-war period. The trend in foreign capital inflows and the expansion of industries was consolidated by the establishment of the Central African Federation in 1953. The increase in manufacturing production occurred alongside the establishment of new industrial ventures initiated by European immigrants and local residents. In the same period influential British and South African companies took over existing small local concerns resulting in concentration of industrial production in the hands of few, big corporations. Most foreign capital came from Britain and South Africa and to a lesser extent, from the United States of America and Italy. Foreign capital came in the form of foreign direct investment or local take-overs or in a small measure through immigrants. This thesis also addressed foreign capital’s relations and partnership with the Southern Rhodesian state during this time in funding basic services and facilities pertinent to industrial development. The role of foreign capital in Southern Rhodesia’s industrialisation process was also considered in relation to the contemporaneous phenomenon of Import Substitution Industrialisation (ISI), as well as the influence of South Africa, and it concluded that industrialisation in Southern Rhodesia displayed many of the tenets of ISI as observed in Latin America.