The List: Role of Companies in Controlling Countries

A lot of people were waiting in eager anticipation to see the list of people/companies which have externalised funds from Zimbabwe. The list which has been published has been received with mainly disdain in the social media comments which I have been exposed to.

Something which is likely to be missed by some people is the role of companies as separate legal entities in carrying out transactions. Although people expected to see names of certain individuals in the political and business spheres- there's need to look beyond the company names and ascertain who are the people behind these companies.

Companies have been at the forefront of shaping the way countries operate. It goes without saying the big funders of presidential campaigns in the USA are corporates who are there to 'lobby' for what they want to get done to legislation. (Lobbying for me is akin to glorified corruption- but that's a story for another day :) )

Brief history of the role of corporates in Africa

Large multinational corporations such as Anglo-American and De Beers have a long history of involvement in the shaping of the political landscape of South Africa. In recent years there have been talks in South Africa of State Capture by different individuals such as the Gupta's through different companies. Some have called out the hypocrisy of only focusing on recent history without examining what has been given the moniker 'White Monopoly Capital.' "The term Monopoly capital comes from Marxist criticism of capital which focuses on corporations controlling vast swaths of the economy" (Mail and Guardian).

The same M&G article quoted above goes on to say, " professor emeritus of economics at Stellenbosch University Sampie Terreblanche has alleged in interviews previously, Mandela and other senior leaders of the ANC were courted by the likes of the Oppenheimers and the Ruperts in the early 1990s. Terreblanche claims that, in a series of clandestine meetings, Mandela was persuaded to adopt economic policies that would in effect protect the interests of white-held capital and inhibit the radical transformation of the economy."

If we are to take a cursory glance through history, the colonial forays of the British Empire and other European countries was pushed via corporates i.e. British South Africa Company (BSAC) headed by one Cecil J Rhodes...name ring a bell? Through BSAC Rhodes wrecked havoc in the lands

The Dutch East India Company Vereenigde Landsche Ge-Oktroyeerde Oostindische Compagnie, best known as VOC was started by a group of Dutch merchants and independent trading companies who were fed up with Portugal's monopoly over the East Asia spice trade. The VOC was given powers to not only pursue business interests but to also colonise and enslave people in different lands in line with market requirements and political imperatives.


What needs to be done

For journalists who are in Zimbabwe at the moment, to really be regarded as credible- I would say they need to look beyond what is on the surface. It is important to look at the recently published list and ask questions such as;

• who are the directors of these companies?
• who are the major shareholders of these companies?
• where was the money externalised to?
• how did the externalisation happen i.e. how did the authorities not see this happening?
• when will the funds be brought back?
• once the funds are brought back how will they be accounted for and used?