Pan African capital? Banks, currencies, and imperial power

Hannah Appel

Journal of Cultural Economy, 2023, vol. 16, issue 3, 392-408

Abstract: U.S. and Europe-based banks and international financial institutions including the IMF have been central to critical accounts of Africa’s place in global capitalism. And yet since 2008 these institutions have been in retreat on the continent, partially replaced by Pan African Banks. Putting ethnographic work with Africa-based finance professionals into dialogue with heterodox economic thinking on banks and currency sovereignty, I argue that we must not only analyze the geographic shift in where banks are headquartered and who owns them, but also generate empirical and theoretical shifts in what a bank is, what it does, and to what effect, especially in terms of the relationship between currencies, social violence, and imperial and racial power.

Date: 2023
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DOI: 10.1080/17530350.2023.2177322

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