The contribution to sterling reserves by any colony was a gift to the British treasury, for which the colony received little interest. [...] Men like… - Walter Rodney

It is particularly instructive to turn to the example of Egypt under Mohammed Ali, who ruled from 1805 to 1849. [...] The ideals of Mohammed Ali could be related in the idiom of modern social science as being the creation of a viable, self-propelling economy to provide the basis for national independence. Such ideals were diametrically opposed to the needs of European capitalism. British and French industrialists wanted to see Egypt not as a textile manufacturer but as a producer of raw cotton for export, and an importer of European manufactures. European financiers wanted Egypt to be a source of investment, and in the second half of the eighteenth century they turned the sultan of Egypt into an international beggar, who mortgaged the whole of Egypt to international monopoly financiers. Finally, European statesmen wanted Egyptian soil to serve as a base for exploiting India and Arabia. Therefore, the was dug out of Egyptian soil by Egyptians, but it was owned by Britain and France, who then extended political domination over Egypt and Sudan.

There was nothing "natural" about monoculture. It was a consequence of imperialist requirements and machinations, extending into areas that were politically independent in name. Monoculture was a characteristic of regions falling under imperialist domination. Certain countries in Latin America such as Costa Rica and Guatemala were forced by United States capitalist firms to concentrate so heavily on growing bananas that they were contemptuously known as “banana republics.” In Africa, this concentration on one or two cash crops for sale abroad had many harmful effects. Sometimes, cash crops were grown to the exclusion of staple foods—thus causing famines. For instance, in Gambia rice farming was popular before the colonial era, but so much of the best land was transferred to groundnuts that rice had to be imported on a large scale to try to counter the fact that famine was becoming endemic. In Asante, concentration on cocoa raised fears of famine in a region previously famous for yams and other foodstuff. Yet the threat of famine was a small disadvantage compared to the extreme vulnerability and insecurity of monoculture. When the crop was affected by internal factors such as disease, that amounted to an overwhelming disaster, as in the case of Gold Coast cocoa when it was hit by swollen-shoot disease in the 1940s. Besides, at all times, the price fluctuations (which were externally controlled) left the African producer helpless in the face of capitalist maneuvers.

What is seldom commented upon is the fact that many Africans were the victims of fascism at the hands of the Portuguese and Spanish, at the hands of the Italians and the Vichy French regime for a brief period in the late 1930s and the early 1940s, and at the hands of the British and in South Africa throughout this century. The fascist colonial powers were retarded capitalist states, where the government police machinery united with the Catholic church and the capitalists to suppress Portuguese and Spanish workers and peasants and to keep them ignorant. Understandably, the fascist colonialists wanted to do the same to African working people, and in addition they vented their racism on Africans, just as Hitler had done on the Jews.