In trade, barter is a system of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money. Economists usually distinguish barter from gift economies in many ways; barter, for example, features immediate reciprocal exchange, not one delayed in time. Barter usually takes place on a bilateral basis, but may be multilateral. In most developed countries, barter usually exists parallel to monetary systems only to a very limited extent. Market actors use barter as a replacement for money as the method of exchange in times of monetary crisis, such as when currency becomes unstable or simply unavailable for conducting commerce.
Triangular trade or triangle trade is trade between three ports or regions. Triangular trade usually evolves when a region has export commodities that are not required in the region from which its major imports come. It has been used to offset trade imbalances between different regions.
The Songhai Empire was a state located in the western part of the Sahel during the 15th and 16th centuries. At its peak, it was one of the largest African empires in history. The state is known by its historiographical name, derived from its largest ethnic group and ruling elite, the Songhai people. Sonni Ali established Gao as the empire's capital, although a Songhai state had existed in and around Gao since the 11th century. Other important cities in the kingdom were Timbuktu and Djenné, where urban-centred trade flourished; they were conquered in 1468 and 1475, respectively. Initially, the Songhai Empire was ruled by the Sonni dynasty, but it was later replaced by the Askia dynasty (1493–1591).
Guinea is a traditional name for the region of the African coast of West Africa which lies along the Gulf of Guinea. It is a naturally moist tropical forest or savanna that stretches along the coast and borders the Sahel belt in the north.
The earliest humans were hunter gatherers who were living in small, family groupings. Even then there was considerable trade that could cover long distances. Archaeologists have found that evidence of trade in luxury items like precious metals and shells across the entirety of the continent.
The Dyula are a Mande ethnic group inhabiting several West African countries, including Mali, Cote d'Ivoire, Ghana, and Burkina Faso.
Trans-Saharan trade is trade between sub-Saharan Africa and North Africa that requires travel across the Sahara. Though this trade began in prehistoric times, the peak of trade extended from the 8th century until the early 17th century CE. The Sahara once had a different climate and environment. In Libya and Algeria, from at least 7000 BCE, pastoralism, large settlements and pottery were present. Cattle were introduced to the Central Sahara (Ahaggar) between 4090 to 3500 BCE. Remarkable rock paintings in arid regions portray flora and fauna that are not present in the modern desert.
Elmina Castle was erected by the Portuguese in 1482 as Castelo de São Jorge da Mina, also known as Castelo da Mina or simply Mina, in present-day Elmina, Ghana, formerly the Gold Coast. It was the first trading post built on the Gulf of Guinea, and the oldest European building in existence south of the Sahara.
The Mandé people are an ethnolinguistic group who are native to West Africa, possessing a long shared history and forming a distinct linguistic family known as the Mandé Languages. The Mandé languages are divided into two primary groups: East Mandé and West Mandé.
Bono State was a trading state created by the Bono people, located in what is now southern Ghana. Bonoman was a medieval Akan state in what is now Bono, Bono East and Ahafo region respectively named after the and Eastern Ivory Coast. It is generally accepted as the origin of the subgroups of the Akan people who migrated out of the state at various times to create new Akan states in search of gold. The gold trade, which started to boom in Bonoman as early in the 14th century, was the genesis of Akan War, power and wealth in the region, beginning in the Middle Ages.
The Wangara are a subgroup of the Soninke who later became assimilated merchant classes that specialized in both Trans Saharan and Secret Trade of Gold Dust. Their diaspora operated all throughout West Africa Sahel-Sudan. Fostering regionally organized trade networks and Architecture projects. But based in the many Sahelian and Niger-Volta-Sene-Gambia river city-states. Particularly Dia, Timbuktu, Agadez, Kano, Gao, Koumbi Saleh, Guidimaka, Salaga, Kong, Bussa, Bissa, Kankan, Jallon, Djenné as well as Bambouk, Bure, Lobi, and Bono State goldfields and Borgu. They also were practicing Muslims with a clerical social class (Karamogo), Timbuktu Alumni political advisors, Sufi Mystic healers and individual leaders (Marabout). Living by a philosophy of mercantile pacifism called the Suwarian Tradition. Teaching peaceful coexistence with non-Muslims, reserving Jihad for self-defence only and even serving as Soothsayers or a "priesthood" of literate messengers for non-Muslim Chiefdoms/Kingdoms. This gave them a degree of control and immense wealth in lands where they were the minority. Creating contacts with almost all West African religious denominations. A group of Mande traders, loosely associated with the Kingdoms of the Sahel region and other West African Empires. Such as Ghana, Mali, Songhai, Bono State, Kong, Borgu, Dendi, Macina, Hausa Kingdoms & the Pashalik of Timbuktu. Wangara also describes any land south of Timbuktu and Agadez. The Bilad-Al-Sudan or Bilad-Al-Tibr, "Land of Black" or "Gold."
Slavery has historically been widespread in Africa. Systems of servitude and slavery were common in parts of Africa in ancient times, as they were in much of the rest of the ancient world. When the trans-Saharan slave trade, Red Sea slave trade, Indian Ocean slave trade and Atlantic slave trade began, many of the pre-existing local African slave systems began supplying captives for slave markets outside Africa. Slavery in contemporary Africa is still practised despite it being illegal.
The city of Carthage was founded in the 9th century BC on the coast of Northwest Africa, in what is now Tunisia, as one of a number of Phoenician settlements in the western Mediterranean created to facilitate trade from the city of Tyre on the coast of what is now Lebanon. The name of both the city and the wider republic that grew out of it, Carthage developed into a significant trading empire throughout the Mediterranean. The date from which Carthage can be counted as an independent power cannot exactly be determined, and probably nothing distinguished Carthage from the other Phoenician colonies in Northwest Africa and the Mediterranean during 800–700 BC. By the end of the 7th century BC, Carthage was becoming one of the leading commercial centres of the West Mediterranean region. After a long conflict with the emerging Roman Republic, known as the Punic Wars, Rome finally destroyed Carthage in 146 BC. A Roman Carthage was established on the ruins of the first. Roman Carthage was eventually destroyed—its walls torn down, its water supply cut off, and its harbours made unusable—following its conquest by Arab invaders at the close of the 7th century. It was replaced by Tunis as the major regional centre, which has spread to include the ancient site of Carthage in a modern suburb.
Ancient Carthage was an ancient Semitic civilisation based in North Africa. Initially a settlement in present-day Tunisia, it later became a city-state and then an empire. Founded by the Phoenicians in the ninth century BC, Carthage reached its height in the fourth century BC as one of the largest metropoleis in the world. It was the centre of the Carthaginian Empire, a major power led by the Punic people who dominated the ancient western and central Mediterranean Sea. Following the Punic Wars, Carthage was destroyed by the Romans in 146 BC, who later rebuilt the city lavishly.
The Ghana Empire, also known as simply Ghana, Ghanata, or Wagadou, was a West African classical to post-classical era western-Sahelian empire based in the modern-day southeast of Mauritania and western Mali.
Economic history of the Arab world addresses the history of economic activity in the Arabic-speaking countries and the stretching of Atlantic Ocean in the west to the Arabian Sea in the east, and from the Mediterranean Sea in the north to the Horn of Africa and the Indian Ocean in the southeast from the time of its origins in the Arabian peninsula and spread in the 7th century CE Muslim conquests and since.
Panyarring was the practice of seizing and holding persons until the repayment of debt or resolution of a dispute which became a common activity along the Atlantic coast of Africa in the 18th and 19th centuries. The practice developed from pawnship, a common practice in West Africa where members of a family borrowing money would be pledged as collateral to the family providing credit until the repayment of the debt. Panyarring though is different from this practice as it involves the forced seizure of persons when a debt was not repaid.
The Tibet–Nepal salt trade route is an ancient salt trading route running between the Tibetan Plateau and the Middle Hills of Nepal and further on to India. After the annexation of Tibet by China in 1950 and the Sino-Indian War in 1962, patterns of trade changed and the use of the old trading route between India and Tibet dwindled and the salt-carrying caravans became redundant.
Economic history of Ghana details the economic situation of Ghana since pre-colonial times to date.
Ghana was initially referred to as the Gold Coast. After attaining independence, the country's first sovereign government named the state after the Ghana Empire in modern Mauritania and Mali. Gold Coast was initially inhabited by different states, empires and ethnic groups before its colonization by the British Empire. The earliest known physical remains of the earliest man in Ghana were first discovered by archaeologists in a rock shelter at Kintampo during the 1960s. The remains were dated to be 5000 years old and it marked the period of transition to sedentism in Ghana. Early Ghanaians used Acheulean stone tools as hunter gatherers during the Early stone age. These stone tools evolved throughout the Middle and Late Stone Ages, during which some early Ghanaians inhabited caves.
