South And Central Afric An Undeveloped Continent

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Nowadays, Africa is considered to be an undeveloped continent. Out of all the reasons Africa grew out to be this way. In this period, there were many different types of currency in Africa; unlike in other parts of the world where one type of currency was more used than others. For this study have chosen four different types of currency, which are cloth, cowries, gold and slaves. We will see how their nature influenced the economy of precolonial Africa. The conclusion reached is that the nature of the currencies had a great impact in the underdevelopment, their nature being especially relevant when the external trade started, because of the contrast between hard currencies with the African currencies, provoking the latter to become soft …show more content…

There are difficulties in the study of this topic. The first one is the view of the historiography. Many economist and historians have considered Africa to be underdeveloped even before the colonialism period, which recent studies have proved to be wrong. Africa had a well-developed economic system, where the monetization of the economy had created a class society . There needs to be more investigation about this topic, which hopefully will bring some light to this interesting period in time. Secondly, the lack of primary sources is another obstacle to the study of this topic, many of the ones available are biased because they are from a European perspective. However, it is possible to find other material in archaeology, documents and oral stories. Thirdly, the continent of Africa is huge, and in its study, we should try to avoid generalizations, because it erases the particularities of each territory. Therefore, as said, we are going to focus on West and Central Africa, so the study will be more focused and specific.
There were many different types of currency in precolonial Africa. Among them the most used ones were cowries, copper, cloth, slaves, gold, silver and salt. Different areas preferred different kinds of currency, however, their value was recognized in all West Africa. The multiplicity of currency indicates a lack of centralization, as well as many connections between zones. One important characteristic

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