Royal African Company

Definition

The Royal African Company was a trading company established in 1660 by the English to exploit trade in West Africa, particularly in gold and enslaved people. It played a critical role in the early European presence in Africa, as it facilitated the growth of the transatlantic slave trade and established trading posts along the coast of West Africa, connecting Europe with the burgeoning plantation economies in the Americas.

5 Must Know Facts For Your Next Test

1. The Royal African Company was granted a royal charter by King Charles II and initially held a monopoly on English trade with West Africa.
2. It established several forts along the West African coast, such as Cape Coast Castle and Fort James, to facilitate trade and secure its interests.
3. The company played a significant role in the transatlantic slave trade, transporting an estimated 300,000 enslaved Africans to the Americas by the end of the 18th century.
4. Despite its initial successes, the Royal African Company faced competition from other European traders and eventually lost its monopoly in the late 18th century.
5. The decline of the Royal African Company coincided with growing abolitionist movements in Britain, leading to increasing scrutiny of the slave trade and its practices.

Review Questions

• How did the establishment of the Royal African Company impact trade relations between Europe and Africa?
  • The establishment of the Royal African Company significantly impacted trade relations by facilitating organized commerce between Europe and West Africa. With its monopoly on English trade, it set up structured trading operations that focused on exporting enslaved Africans and gold. This structured approach not only increased economic interactions but also laid the groundwork for future European exploitation and colonization in Africa.
• Evaluate the role of the Royal African Company in shaping early modern Atlantic economies, particularly regarding slavery.
  • The Royal African Company played a pivotal role in shaping early modern Atlantic economies by being a key player in the transatlantic slave trade. By supplying enslaved labor to plantations in the Americas, it directly contributed to the economic prosperity of European powers through sugar, tobacco, and cotton production. This created a cycle where profits from these colonies fueled further exploration and exploitation of Africa, entrenching slavery within global economic systems.
• Analyze the factors that led to the decline of the Royal African Company and discuss its implications for slavery and British colonial policy.
  • The decline of the Royal African Company was influenced by several factors, including increased competition from other European traders and changing economic conditions. As rival companies emerged and challenged its monopoly, it became harder for the Royal African Company to maintain control over lucrative slave trading routes. Furthermore, growing abolitionist sentiments in Britain began questioning the moral implications of slavery, leading to legislative changes that eventually dismantled monopolistic practices. This decline not only reflected shifts in economic power but also signaled a broader reevaluation of colonial policies and attitudes towards slavery in Britain.

Related terms

Slave Trade:

The system of trading enslaved Africans, primarily to the Americas, which became a significant aspect of European colonial economies.

Asiento: A license granted by the Spanish crown to foreign traders allowing them to supply enslaved people to Spanish colonies, which was a part of the transatlantic slave trade.

Mercantilism: An economic theory prevalent in Europe during the 16th to 18th centuries that emphasized the importance of accumulating wealth through trade and establishing colonies.