Download PDF by Terence McNamee, Mark Pearson, Wiebe Boer (eds.): Africans Investing in Africa: Understanding Business and

By Terence McNamee, Mark Pearson, Wiebe Boer (eds.)

ISBN-10: 1137542802

ISBN-13: 9781137542809

ISBN-10: 1349507083

ISBN-13: 9781349507085

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Additional resources for Africans Investing in Africa: Understanding Business and Trade, Sector by Sector

Sample text

Others employed both means. 5 As they made their way south and west, they would sell salt and other goods along the way to defray expenses and buy other trade goods from communities on the trade routes. 2), but also established permanent trading centres in the various areas of West Africa with which they conducted trade. At the peak of the Wangara’s commercial ascendance, their economic activities and investments encompassed product distribution, arbitrage, financing and credit, lodging, mining, manufacturing, bartering, brokerage and long-distance trading.

The process of mastering this trans-West Africa trade took time, but the spread of Wangara commercial influence from medieval Mali to other parts of West Africa was inevitable, given the importance of gold and salt to the economies of several states in West Africa. Beginning probably in the late twelfth century, the Wangara began to expand their trading network to the Senegambia, to Guinea, and southwest to modern-day Ghana, Ivory Coast and eventually modern-day Nigeria. The logistics of this trading system became more complex as the Wangara sought out new commercial areas and invested in the extractive and manufacturing sectors.

A product of this commercial and political influence of the ‘Wangara [trade] Diaspora’7 in the Senegambia region was a strong kinship network that produced an ever-expanding circuit of confidence, which in turn facilitated business transactions and credit. Furthermore, some of the Wangara traders who settled permanently in the Senegambia region took to artisan pursuits, becoming cobblers and blacksmiths, manufacturing and supplying footwear, accessories and weapons to Wangara and non-Wangara warriors, political leaders, priests and long-distance traders.

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Africans Investing in Africa: Understanding Business and Trade, Sector by Sector by Terence McNamee, Mark Pearson, Wiebe Boer (eds.)

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