Regulatory capture in the British Empire: The British South Africa Company and the redefinition of property rights in Southern Africa

We study the redefinition of property rights under colonial rule with a focus on state and business relations. We study the case of the British South Africa Company (BSAC) and how it was able to legitimise its claims to land and minerals in two non-settler colonies in Africa: Northern Rhodesia and Nyasaland. The study shows that the BSAC was able to wield considerable influence over these political processes. The British government thereby came to favour the interests of the BSAC over those of other actors, including settlers and African subjects in the colonies, despite having the knowledge that many of the company's claims had no legal basis. The findings show how the dynamic relationship between state and firms can evolve into one that sees the public interests subjugated.