The Failure and Feasibility of Capitalism in Africa, International Political Economy Series, 286 INDEX

Index

A Ahmed, Abiy–Prime Minister of Abacha, Sanni, 97 Ethiopia, 52 Adichie, Chimamanda–African Ake, Claude, 35 feminist, 179 Albania, 107 African Continental Free Trade Algeria, 29, 35, 38, 39, 56, 119, 224 Agreement (AfCFTA), 208, 227, Ali,BeninTunisia,129 234, 254, 255, 257 Al Jazeera television, 67 African Development Bank (AfDB), al-Sisi, Abdul Fattah–President of 250, 252 Egypt, 130 African Peer Review Mechanism American Colonization Society (ACS), (APRM), 157, 166, 238 16 The American dream, 219 African political economy, 18 Amin, Samir, 31, 35 African Securities Exchanges Anglo Leasing scandal, 144 Association (ASEA), 246 Angola, 48, 49, 57, 87, 94, 99–101, African Union (AU), 35, 198, 199, 111, 124, 128, 131, 138 205 Angola’s Sovereign Wealth Fund, 131 African Union Agenda 2063, 158 Anti-corruption campaign, 239, 240 Africapitalism, 243, 244 Anti-inflammatory steroid Africa rising, 49, 50, 56, 59 dexamethasone, 267 “Africa rising” years (2005–2015), Anti-malaria medication 230 hydroxychloroquine, 267 Agnosticism, 215 Arab Spring in North Africa, 129

© The Editor(s) (if applicable) and The Author(s), under exclusive 285 license to Springer Nature Switzerland AG 2021 K. Omeje, The Failure and Feasibility of Capitalism in Africa, International Political Economy Series, https://doi.org/10.1007/978-3-030-75170-8 286 INDEX

Asian Tigers, 43–45 Central African Republic, 40, 56 AU Commission Chairperson Moussa CFA Franc, 71, 72, 75, 76, 80, 81 Faki Mahamat, 199 Chad, 38, 40, 56 Australia, 268 Chihombori-Quao, Arikana, 77–79 Austro-Hungarian empire, 202 China, 38, 39, 41, 45, 47, 50, 57, 58, Ayittey, George, 10, 11, 242 190–196, 198–205, 207–209, Ayoob, Mohammed, 191 265, 266, 268, 276, 277, 279 China International Development Cooperation Agency (CIDCA), B 204 Babylonian empire, 202 China under Deng Xiaoping, 45 Bach, Daniel, 37 Chinese capitalism, 190 Battle of Adowa, 16 Chinese Communist Party, 201 Belt and Road Initiative (BRI), 197, Chinese expedition to Africa, 192, 198, 209 193 Benin, 71, 205 Chinese FDI in Africa, 196 Berlin Conference, 15, 16 Chinese Ming dynasty, 193 “Bewitched states”, 174 CNN, 161, 162, 269 Big Bang, 57 Cold War, 6, 7, 23, 30–32, 35, 37, “Big eaters”, 132, 178 38, 40, 48, 69, 86, 118, 167, Bipolarity, 6 194, 202, 244 Biya, Paul–President of Cameroun, Cold War Capitalism, 48 173 Colonial imperialism, 10, 12 Bonapartism, 272 Colonialism, 10, 16, 18, 20, 22 Bosnia and Herzegovina, 107 Botswana, 51, 54–57, 145, 174, 224 Communalism, 8, 10 BREXIT, 171, 252 Communaute francaise d’Afrique BRICS, 206 (CFA), 71 Buhari, Mohammadu, 74 Community capitalism, 223, 243, 256 Burkina, 50, 56 Congo-Brazzaville, 88 Burundi, 38, 40 Corruption, 4, 37, 42, 53, 67, 69, 86, 87, 97, 109, 123, 125, 127, 130–132, 135, 136, 141–143, C 163, 164, 167, 178, 227, Cabral, Amilca, 31, 32 236–239 Cameroun, 87, 88 Corruption Perception Index (CPI), Canada, 254, 268 38 Cape Verde, 145, 225 Cote d’Ivoire, 49, 71, 72, 75, 87, Capture of state power, 167, 168 119, 197, 205, 255 Caribbean, 32, 56 Covid-19 emergency response projects Central African Economic and Mone- funding, 277 tary Community (CEMAC), 71, Covid-19 pandemic, 198, 265, 270, 81 271, 275, 276, 278–280 INDEX 287 ovid-19 vaccines, 268 Elliot Berg Report, 253 Covid multifunctional medical robots, Employability, 170 276 Enlightenment philosophers, 229 Covid-Organics, 273 Entrepreneurial capitalism, 18, Crony capitalism, 128–132, 138, 148 228–230, 232, 233, 235, 242, Cuba, 268 243, 245, 256, 257 Curse of impunity, 126, 140, 147 Equatorial Guinea, 38, 87, 88, 94, Customer service capitalism, 222, 256 100, 125, 134–136, 138 Eswatini (Swaziland), 125, 134, 136–138 D Ethiopia, 33, 35, 50–52, 56, 57, 192, Democratic governance, 156 197, 203, 205, 206, 271, 278 Denmark, 252 EU Countries, 51 Dependency school of political Eurobond scandal, 144 economy, 118 European Union, 92 Desai, Meghnad Lord, 220 Évolué, 68 Despotism, 129 Extractive Industries Transparency Developmental capitalism, 43 Initiative (EITI), 136, 142, 239 Developmental state, 43, 47, 51 Disaster Capitalism Complex, 88 Djibouti–military bases, 198, 209 F Dominion colonies, 19 Fanon, Frantz, 16 dos Santos, Isabel, 131, 138 Feudalism, 1, 8 Dowden, Richard, 53 Finland, 252 Dramatization of unseriousness, 159, First scramble for Africa, 11, 23 161, 180 Flawed elections, 173, 182 DRC, 38, 39, 48, 50, 51, 56, 57, Fledgling democracy, 157 180, 181 Fordist capitalism, 222 Dutch disease, 88, 100 Foreign Direct Investments (FDI), 45, Dysfunctional capitalism, 124–127, 47, 48, 56, 58, 68, 75, 119, 196, 138, 145, 147 227, 246 Forum on China–Africa Cooperation Conference (FOCAC), 195, 199, E 203, 209 East Asian NICs, 45 Fragile state, 107 E-Commerce, 234, 235 Fragile State Index (FSI), 38, 141, Economic and Financial Crimes 147 Commission (EFCC), 163 Françafrique, 67–69, 72, 77, 80, 81 Economic impact of global lockdown, France, 191, 193, 198 270 Francophone Africa, 68–70, 75, 78, ECOWAS monetary union, 73 79 Egypt, 119, 128–130, 205 Francophone and Lusophone Egyptian empire, 202 countries, 40 288 INDEX

Francophone bloc, 73, 74 H Francosphere, 74 Hegelian idealism, 217 French–Africa Connection, 67, 76, Hegemonic masculinity, 180 77, 80, 81 High Performing Asian Economies Frontier capitalism, 15, 18, 22, 23, (HPAEs), 45, 46 32, 33, 36, 37, 58 Hostage capitalism, 128, 132–134, Fund for Peace (FFP), 38, 147 139, 140, 148 Houphouët-Boigny, Félix–Ivorian President, 68 Human Development Index, 224 G Huntington, Samuel, 7 Gabon, 71, 88, 100, 172, 224 Gaddafi, Muammar in Libya, 129 I Galala city project, 165 Ibrahim Index of African Governance, GDP, 8, 38–41, 46, 51, 52, 54, 73, 156 135, 139, 192, 207, 245, 246 IGAD, 92, 244 Gender inequality, 179 Illegal capital outflow, 250, 256 Geographical violence, 19 Import-substitution industrialization, Germany, 15, 16, 19, 93, 96, 164, 118, 119, 148 193, 222, 268 India, 38–41, 45, 46, 191 G5 Sahel, 70 Indigenous capitalism, 11, 12, 17, 22, Ghana, 30, 31, 39, 50, 51, 56, 119, 23, 32 145, 170, 174, 192, 206 Indonesia, 39–41, 45, 58 Giddens, Anthony, 9 Indonesia under Mohamed Suharto, Global financial crisis 2007–2008, 45 217, 219 Industrialization, 34, 43–45, 50, 58, Globalization, 89, 225, 245, 265, 279 118, 119 Globalization of trade, 18 “Intermediate eaters”, 140 Goldenberg scandal, 144 International community, 250, 256 Good governance, 97, 98, 156, 157 International development finance, Goodwill economy, 53 233, 235 International Labour Organisation Grand Ethiopian Renaissance Dam (ILO), 272, 273 (GERD), 165 Italy, 9, 15, 16, 93, 130, 193, 252, Greco-Roman civilization, 202 268 G20, 199, 205, 278 G20 Covid-19 debt-repayment moratorium, 199 J Guevara, Ernesto “Che”, 32 Japan, 38, 39, 43, 45, 47–49, 57, 58, Guinea, 35, 40, 94, 111, 205 191, 198, 200, 220, 235, 251, Guinea-Bissau, 31, 38, 40, 71, 81, 252 141, 168, 194, 237, 273 Japanese empire, 202 INDEX 289

Joint venture partnerships, 11 Marx, Karl, 247 Mau Mau warriors, 19 Mauritania, 29 K Mauritius, 145, 225, 249, 255 Kagame, Paul–President of Rwanda, Mazrui, Ali, 5 251, 253 McKinsey & Company, 217 Kenya, 119, 125, 128, 132, 141, 142, Medo-Persian empire, 202 144, 160, 164, 168, 169, 172, Miller, Richard W., 3, 4, 23 173, 178, 181 Mixed economy capitalism, 224, 225, Kenyatta, Uhuru–President of Kenya, 242, 256 144 Moderna, 267 King Mswati III, 136 Modernist Europe, 215 Moghalu, Kingsley, 10 Mo Ibrahim Foundation, 156 L Monetary sovereignty, 71, 76, 80 Lagos Plan of Action, 253 Monopsony, 207 Latin America, 56 Morocco, 205, 224, 230 Lenin, V.I., 5 Moyo, Dambisa, 3 Lesotho, 168, 181 Mozambique, 40, 48–50, 56, 57 Liberal democratic politics, 167, 181 Mubarak, Hosni in Egypt, 129 Liberia, 35, 48, 49 Multilateralism, 271 Libya, 29, 38, 49, 56, 128, 129 Museveni, Yoweri–President of Uganda, 163, 164 M Mytelka, Lynn, 118, 119 Macroecnomic reforms, 237 Macroeconomic convergence criteria, 73 N Macron, Emmanuel–French President, Namibia, 145 70, 72 Nationalization, 118, 120, 148 Madagascar, 94, 271, 273 Natural resource governance, 109, Mafia capitalism, 141, 148 110 Magna Carta, 201 Neoclassical economic explanations, Magnitsky Act-Style, 201 47 Ma, Jack, 234 Neocolonial capitalism, 29, 30, 32, 37 Malawi, 40, 93, 98, 168, 173, 174 Neocolonialism, 30–33, 59 Malaysia, 33, 45, 47, 48, 51 Neo-Gramscian and poststructualist Malaysia under Mahathir Mohamad, analysis, 189 45 Neoliberal globalists, 265 Managerial capitalism, 222, 256 Neoliberalism, 6, 22, 224 Market capitalism, 2, 4, 11, 17, 166, Neoliberal politics in Africa, 172, 175, 224 177, 179 Marxian materialism, 217 Neopatrimonialism, 37 290 INDEX

Neopatrimonial state, 107 Pax-Romana, 31 Netherlands, 14, 15, 252 Peacebuilding, 145 New Deal for Somalia, 92, 93 Peasant capitalism, 11, 32 Newly Industrialising Countries Perilous states, 236 (NICs), 43–45 Personal Protection Equipment (PPE), New Partnership for Africa’s Devel- 274, 277 opment (NEPAD), 157, 158, Petro-states, 88 181 “Petty eaters”, 140 Niger, 40, 50 Pfizer, 267 Nigeria, 35, 38, 39, 41, 51, 53–57, Pilger, John, 199 119–121, 124, 125, 128, 132, Political culture, 159, 161, 162 141–144, 161, 162, 164, 169, Political Darwinism, 176 172, 175–177, 180, 181, 271, Political economy of “eating”, 125, 273 127, 145, 147 Nigerian Agricultural and Cooperative Political entrepreneurs, 248 Bank (NACB), 120 Political governance, 158, 163 Nigerian Bank for Commerce and Political party capture, 167 Industry (NBCI), 120 Political violence, 166, 167, 238 Nkrumah, Kwame, 30, 31, 33, 35 Postcolonial state, 30, 32, 33, 41, 68, Non-Aligned Movement, 194 147, 160 North Africa, 9, 29, 155, 226, 245 Post-Covid stabilization programme, Norway, 15, 252 279 Poverty reduction policies, 277 Prebendal “eating”, 179 O Prebendalism, 37, 143, 148 OECD, 96, 202 Predatory capitalism, 141, 148 Officialization of kleptocracy, 139 Protestantism, 216 Okonjo-Iweala, Ngozi, 142 Pseudo-capitalism, 230 Oligarchic capitalism, 127, 128, 147, 148 Operation Barkhane, 70 Q Organisation of Africa Unity (OAU), Quarterly capitalism, 217 35, 158, 253 Ottoman empire, 10, 202 Oxford AstraZeneca, 267 R Ramaphosa, Cyril, 147 Rational choice theory, 117 P Rentier capitalism, 86, 90, 101, 102, Pact for continuation of colonization, 104 78 Rentierism, 101 Pax-Africana, 31, 59 Rentier politics, 104, 107, 108 Pax-Americana, 201 Rentier state, 86–88, 98, 100, 101, Pax-Britannica, 31, 201 103, 104, 106, 107, 109–111 INDEX 291

Resource curse, 86–89, 91, 95, 110, South Sudan, 33, 38, 49, 56, 111, 111 141, 236, 237 Resource rent, 86, 98, 99, 101, 102, Special economic zones (SEZs), 45, 109, 111 46, 227 Reverse economics, 125 Spirit of capitalism, 215, 216, 218, Rodney, Walter, 2, 9, 13, 18 220, 221, 255, 257 Roman empire, 202 Sputnik V vaccine, 267 Romania, 51, 107 Squanderation, 125, 127, 130, 131, Russia, 5, 7, 15, 94, 97, 127, 128, 145, 147 140, 148, 181, 191, 267 Stakeholder theory, 86 Rwanda, 40, 49, 50, 145, 203, 206, State capitalism, 225–228, 242, 256 271, 275–277 State capture, 132, 134, 139, 140, 144, 148 Stubbs, Richard, 45, 46, 48, 221 S Subaltern capitalism, 190–192, Safari capitalism, 225, 242, 245 207–209 Saudi Arabia, 39–41, 58 Subaltern studies, 189 Second scramble for Africa, 15, 23 Sub-Saharan Africa, 29, 30, 34, 38, Senegal, 119, 145, 174, 199, 205 40, 49, 52, 53, 55, 57–59 Settler colonies, 19, 23 Sudan, 29, 33, 38, 39, 48, 49, 51, Severe Acute Respiratory Syndrome 52, 57 (SARS), 265, 266 Suez Canal, 165 Seychelles, 51, 54, 55, 57, 145, 225, Surrogate capitalism, 40 249, 255 Shareholder capitalism, 222, 256 Sierra Leone, 49, 181 T Singapore, 33, 43–45, 47, 48, 228, Taiwan, 39–41, 43, 45, 47, 48, 58, 235 268 Singapore under Lew Kuan Yew, 45 Tanzania, 50, 94, 111, 119, 145, 174 SMEs (small and medium enterprises), Tax evasion by transnational 43, 44 companies, 95, 96, 111 Smith, Adam, 218, 228, 229, 247, Tax infrastructures, 249, 250 258 Teodorín (Teodoro Nguema Obiang Social market capitalism, 222, 256 Mangue), 135, 136 Somalia, 15, 38, 49, 53, 91–93, 141, Thailand, 38–41, 45, 47, 48, 58 236, 271 Third scramble for Africa, 192, 200, Sonangol, 131 209 South–South cooperation, 203 Third World, 8, 78, 190, 191, 202, South Africa, 38–42, 51–54, 57, 221, 203, 216, 251 230, 231, 234, 252, 266–268, Tigray People’s Liberation Front 270, 271 (TPLF), 52 Southern Senegal, 49 Top-dog industrial capitalism, 190 South Korean Chaebols, 43 Trans-African highway, 205 292 INDEX

Trans-Atlantic slave trade, 11–13, 17, West African Economic and Monetary 22 Union (WAEMU), 71–73, 81 Transformative state, 109, 110 West African Monetary Union Zone Transparency International (TI), 38 (WAMZ), 74 Tunisia, 205, 224, 245 Western capitalism, 179, 190, 217, Turkey, 15, 39, 93, 181, 191 219, 220, 255 Turner, Terisa, 35 Western imperialism, 5, 94 Western neoliberalism, 217 Western social sciences, 215 U Westphalian state perspective, 107 Uganda, 49, 50, 163, 164, 168, 172, WHO Director General Dr Tedros 173, 181, 271 Adhanom Ghebreyesus, 199 UK, 91, 93, 96, 164, 191, 201, 252, World Bank/IMF Structural Adjust- 254, 267, 268 ment Programmes, 120, 140, UK–Africa Investment Summit, 252 224, 247 Ukraine, 93, 97, 107, 140, 181 World War I, 16 Underdevelopment, 18, 49, 86, 193 World War II, 6, 16, 22, 43, 71, 75, United Arab Emirate, 39, 40, 58 235 United Nations Economic Commis- Wrong, Michela, 124, 141 sion for Africa (UNECA), It’sOurTurntoEat, 124 205 WTO Trade Facilitation Agreement UN Secretary General António (TFA), 254 Guterres, 199 USA, 6, 7, 15, 77–79, 93, 96, 164, 165, 181, 191, 199, 200, 203, X 218, 222, 226, 235, 251, 252, Xenophobic attacks, 53 254, 268 Xiaoping, Deng, 195 Useful idiots, 125, 127, 133 Utomi, Pat, 143, 169 Y Young, Robert, 19 V Venture capital, 44, 232, 233, 235 Vietnam, 252 Z Zambia, 19, 50, 95, 97, 99, 192, 194, 197, 231 W Zimbabwe, 38, 39, 41, 42, 51, 53, Weak state, 95, 96, 107 94, 172, 173, 181 Weber, Max, 9, 215–218 Zoonoses, 266 Well-Managed African Economies, 54 Zuma, Jacob, 133, 147