In recent years Africa has experienced waves of new investment, particularly in mining, energy and agriculture, and has seen elevated commodity exports. These flows are tantamount to a new scramble, creating wealth for foreign direct investors, some local entrepreneurs and a growing comprador class. Resources are typically exploited without raising the living standards of the people and at significant environmental cost. On the ground this has engendered significant resistance. The new scramble is a modification of traditional imperialist relationships which Africa experienced with former occupying colonial powers. But how do we understand the differences between the old and new scrambles? Who ultimately holds the power?