British South Africa Company
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The flag of the British South Africa Company |
The
British South Africa Company (BSAC) was established by
Cecil Rhodes through the amalgamation of the Central Search Association and the Exploring Company, Ltd., receiving a
royal charter in
1889. Modeling the BSAC on the
British East India Company, Rhodes hoped it would enable colonisation and economic exploitation across much of south-central Africa, as part of the "
Scramble for Africa". The company's directors included the
Duke of Abercorn, Rhodes himself and the financier
Alfred Beit.
The company was empowered to trade with African rulers such as King
Lobengula; to form banks; to own, manage and grant or distribute land, and to raise a police force (the
British South Africa Police). In return, the company agreed to develop the territory it controlled; to respect existing African laws; to allow free trade within its territory and to respect all religions.
The company recruited its own army, and attacked and defeated the
Matabele and
Shona north of the
Limpopo river. It was the first time in history Britons have used the
Maxim gun in combat (five Maxims to five thousand Ndebele casualties). The company carved out (and for the following three decades administered) a territory which it named
Zambezia, and later,
Rhodesia, and which now covers the area occupied by the republics of
Zambia and
Zimbabwe.
In
1914, the royal charter was renewed, on condition that settlers in Rhodesia were given increased political rights. In 1922, the company entered negotiations with the government of the Union of
South Africa, which was keen to take over the territory - a plan foiled by the colony's settlers, who voted against incorporation with South Africa. In 1923, Britain chose not to renew the BSA Co's charter, and instead accorded 'self-governing'
colony status to
Southern Rhodesia (today,
Zimbabwe) and
protectorate status to
Northern Rhodesia (today,
Zambia).
The BSAC was not able to generate enough profit to pay its shareholders dividends until after it lost direct administrative control over Rhodesia in 1923. In 1933, the BSAC sold its mineral exploration rights south of the Zambezi to the Southern Rhodesian government, but retained rights over Northern Rhodesian mineral rights, as well as the company's vast interests in mining, railways, real estate and agriculture across
southern Africa.
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The arms of the British South Africa Company |
In 1964, the company was forced to hand over its mineral rights to the government of Zambia, and the following year, the British South Africa Company merged with the Central Mining & Investment Corporation Ltd and The Consolidated Mines Selection Company Ltd to form a mining and industrial company known as Charter Consolidated Ltd, of which slightly over one-third of the shares were owned by the British/South African mining company
Anglo American plc.
* Rasmussen, R. K., & Rubert, S. C., 1990.
A Historical Dictionary of Zimbabwe, Scarecrow Press, Inc., Metuchen, NJ, United States of America.
*
Chartered companies*
Pioneer Column*
Shangani Patrol
