Merchant Capital and Economic Decolonization. The United Africa Co, 1929-1987

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Scholarly account. Provides a history of the United Africa Co [UAC] from 1929 to its amalgamation with other parts of Unilever, its parent, in 1987, but a major preoccupation is the 'operation of foreign merchant capital in Black Africa' where UAC was the 'prototype of the form of transnational activity'. Deals notably with 'economic decolonization' and the limitations of power of Western merchant capital following political independence of former colonies. 'It is a central purpose of this book to describe this gradual closing of the opportunities open to UAC and other merchant firms in West Africa; how UAC in particular attempted to respond by practically converting itself into industrial capital; and how, finally, it was compelled to accept that the age of foreign merchant capital in West Africa had ended and with it the company's reason for existence in its historic form'. The volume is structured as follows: 1] 'Strategy and structure' - the company 1929-60 and 1960-87; 2] 'Classical age of UAC' - crisis reconstruction; merchant produce; pools and cocoa; sidelines - shipping and plantations; 3] 'War and merchant capital in Africa' - state control of produce; imports, industry and politics; 4] 'Age of decolonisation' - UAC and African nationalism; adaption to change; last years of general trading and produce; 5] 'UAC in independent Africa' - UAC and African politics; industry - Nigeria, Ghana, Congo/Zaire, Francophone states; decline of the open economy; participation and divestment'; 6] 'Out of Africa and back again' - redeployment, 1960-70; diversification, 1971-83; from UACI to AMEG, 1977-87