British Financial Imperialism and the Colonial Special Economic Zone. An analysis of the influence of foreign investment on local economic policies in the Cape Colony.

This thesis aims to address the limited spatial focus of existing critiques of British financial imperialism, by analysing the economic relationship between Britain and the Cape Colony,and integrating discreet sets of literature related to British imperialism and the economic history of the Cape Colony. Specifically, focus has centred on the diamond mining industry in Kimberley, which produced some of the highest returns on investment of any mining industry in Africa. The thesis discusses how the need to attract foreign investment from the UK to the mining industry shaped local policies towards institutions, infrastructure and labour. In this regard Kimberley became an informal special economic zone, as business thrived in an institutional environment which prioritised attracting foreign investment (primarily from the UK). Much like modern SEZs, the Kimberley mines became a space where unique economic opportunities could be found for investors, which were borne out of the weakness of existing institutions and the organisation of economic life around the privileges of race. (Less)