The Royal African Company (RAC), founded in 1672 under a royal charter by King Charles II of England, played a pivotal role in shaping England’s involvement in the Atlantic slave trade and its broader colonial aspirations. As one of the most prominent monopolistic trading entities of the 17th and 18th centuries, the RAC symbolised England’s expanding empire and a grim representation of the exploitation of African labour and resources.
Foundation and early history
The Royal African Company’s origins trace back to earlier English ventures in West Africa. Before the formation of the RAC, the English had been sporadically involved in trade along the African coast, primarily through private ventures. The first major English trading corporation in Africa was the Company of Royal Adventurers Trading to Africa, established in 1660 by Charles II. However, this company struggled with financial difficulties and conflict with Dutch traders, leading to its eventual collapse.
In 1672, the Royal African Company was established to strengthen England’s control over the lucrative African trade. The new company was granted a royal charter, which gave it the exclusive right to trade along the West African coast. Unlike the British East India Company, which traded in spices, silk, cotton, tea, and opium, the RAC’s monopoly covered many goods, including gold, ivory, and African slaves. Its principal objective was the capture and transportation of enslaved Africans to the English colonies in the Americas, especially the sugar plantations in the Caribbean.
Operations and trade monopoly
The RAC’s trading operations were concentrated mainly in West Africa, with trading posts and forts established along the coast from modern-day Senegal to Nigeria. These forts, such as Cape Coast Castle in present-day Ghana, became hubs for the storage and shipment of goods and a grim reminder of the inhumanity of the slave trade.
The company’s monopoly allowed it to dominate the British slave trade for much of the 17th century. Between 1672 and 1731, it is estimated that the RAC transported over 200,000 enslaved Africans across the Atlantic, many of whom were destined for the British colonies in the Caribbean and North America. Conditions aboard the company’s slave ships were notoriously inhuman, with enslaved Africans packed into the vessels under appalling conditions, leading to high mortality rates.
The triangular trade system that developed involved:
- the export of manufactured goods from England to Africa
- the exchange of these goods for enslaved people
- the transport of the enslaved to the colonies
In the Americas, the enslaved were sold, and the proceeds were often used to purchase goods such as sugar, tobacco, and cotton, which were then shipped back to England, completing the triangle.
Economic and political impact
The Royal African Company’s monopoly over the English slave trade allowed it to exert significant influence over the economy of England’s Atlantic empire. The trade-in enslaved Africans became a major source of wealth for English merchants and investors, and the RAC played a direct role in the development of the British Caribbean and North American colonies.
Several prominent English figures, including members of the royal family, were heavily involved in the company. James, Duke of York (later King James II), was a key figure in the RAC and served as its governor. The company’s close ties to the monarchy and the aristocracy underscored the entanglement of economic interests with political power during this period.
The profits from the slave trade and the wider African trade helped fuel the growth of Britain’s nascent capitalist economy. Many English merchants and investors grew wealthy through their participation in the RAC, and the company’s activities helped lay the foundations for England’s emergence as a global commercial power in the 18th century.
Challenges and decline
Despite its early success, the Royal African Company faced numerous challenges. Competition from other European nations, particularly the Dutch and the French, was a constant threat. Moreover, the company struggled with internal inefficiencies and mismanagement, leading to declining profits.
Perhaps the most significant blow to the RAC’s monopoly came from the growing pressure within England for a more open and competitive slave trade. Many English merchants resented the company’s monopoly and sought the right to engage in the trade independently. In response to these pressures, Parliament passed the Trade with Africa Bill in 1698, which allowed private merchants to participate in the Atlantic slave trade, ending the company’s exclusive control.
While the company continued to operate after losing its monopoly, it regained its former dominance. By the early 18th century, the RAC had largely shifted its focus to trading gold, ivory, and other African commodities as private traders increasingly took over the transportation of enslaved Africans.
Legacy and impact
The legacy of the Royal African Company is inseparable from the brutal realities of the transatlantic slave trade. The company’s involvement in the mass trafficking of Africans contributed to the development of the plantation economies in the Americas and the rise of the British Empire. At the same time, the RAC was responsible for untold suffering, as it directly facilitated the enslavement and forced migration of hundreds of thousands of people.
The company’s role in the slave trade also left a lasting impact on Africa. The extraction of human labour through the Atlantic slave trade severely disrupted African societies, leading to depopulation, political instability, and long-term economic and social consequences for the continent.
In recent years, the RAC and other trading companies like it have come under greater scrutiny as historians and activists seek to highlight the role of European powers in the transatlantic slave trade. The company’s activities stand as a stark reminder of the intersection of commerce, empire, and human exploitation in the formation of the modern world.
In summary
The Royal African Company was a significant instrument in England’s imperial ambitions and the development of the Atlantic slave trade. While its economic impact was profound, so too was its legacy of violence, exploitation, and suffering. Understanding the RAC’s history is crucial in acknowledging the broader history of slavery, colonialism, and its enduring legacies in the modern world.
