Economic Imperialism and Oligopolization of Trade in the Gold Coast: 1886-1939

This article will deal with the mechanisms of the economic takeover of the Gold Coast, between approximately 1885 and 1939. Two aspects of the takeover are dealt with: the progressive oligopolization of trading, shipping, and banking in the colony, and the influence which oligopolistic British firms exerted on government policy. The oligopolization resulted in the underdevelopment of the African trading class and its inability to develop into a genuine capitalist class; while the pursuance of a government policy dedicated to maintaining Ghana\u27s role as a peripheral import-export economy resulted in the internal economic underdevelopment of the colony