African Company of Merchants
| Company type | Chartered company |
|---|---|
| Industry | Atlantic slave trade |
| Predecessor | Royal African Company |
| Founded | 1752 |
| Defunct | 1821 |
| Headquarters | London , United Kingdom |
Area served | Gold Coast (present-day Ghana) |
The African Company of Merchants, also known as the Company of Merchants Trading to Africa, was a British chartered company that operated from 1752 until 1821 along the Gold Coast region, present-day Ghana. Its primary involvement was in the Atlantic slave trade.
Background
Formed under the African Company Act 1750 (24 Geo. 2. c. 49), this company succeeded the Royal African Company (founded in 1660) in 1752.[1] Unlike the Royal African Company, it functioned as a regulated entity rather than a joint stock company. According to Clause IV of the Act:
The new company inherited assets from its predecessor, including nine trading posts or factories: Fort William, Fort James, Fort Sekondi, Fort Winneba, Fort Apollonia, Fort Tantumquery, Fort Metal Cross, Fort Komenda, and the administrative hub at Cape Coast Castle.[1] This coastal zone was predominantly inhabited by the native Fante people.
African Committee
Governance was entrusted to the African Committee, consisting of nine members—three representing each of the cities: London, Liverpool, and Bristol. Annual elections were held among merchants who paid a 40-shilling fee to join. Members could hold office for up to three consecutive years. Nevertheless, allegations of improper conduct surfaced against committee members in pamphlets published in 1772.[2]
Financial support derived from an annual grant by Parliament, which covered expenses related to the London office and maintenance of forts. The committee was accountable to the Exchequer, the Admiralty, and starting in 1782, also reported to the Secretary at War.[1] Among notable officials was John Shoolbred (1740–1802), who served as secretary for multiple years and was related to a prominent vaccination proponent.[2]
Following the British abolition of the slave trade in 1807, the company continued operations for a short period. Administrative oversight was transferred to Governor Charles MacCarthy of Sierra Leone—a settlement established for freed slaves—who later died during the First Anglo-Asante War. In 1817, a treaty was concluded acknowledging the authority of the Asante over extensive coastal territories, which included claims by the Fante. After it became known that the company engaged in slave trading activities within its jurisdiction despite abolition laws, British authorities dissolved it in 1821.[3]
See also
- List of committee members of the African Company of Merchants
- Ashanti–Akim–Akwapim War
- Thomas Edward Bowdich
References
- Articles with short description
- British colonisation in Africa
- Chartered companies
- Defunct companies of the United Kingdom
- Economic history of Great Britain
- 1752 establishments in England
- British companies established in 1752
- British companies disestablished in 1821
- 1821 disestablishments in England
- 18th century in Ghana
- 19th century in Ghana
- Economy of Ghana
- African Company of Merchants
- Pages with reference errors
- Pages with script errors