State Capitalisms in Southern Africa: Colonial Rule, Capitalist Development, and Class Formation in Namibia, South Africa, and Zimbabwe, 1880s–2020s

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.