USA HISTORY

Detailed explanation-1: -Initially Europe’s main interest in the country was as a source of gold, a commodity that was readily available on the coast in exchange for such European exports as cloth, hardware, beads, metals, spirits, arms, and ammunition. This gave rise to the name Gold Coast, by which the country was known until 1957.

Detailed explanation-2: -As the predominantly agrarian societies of European South Africa began to urbanize and industrialize, the region evolved into a major supplier of precious minerals to the world economy; gold especially was urgently needed to back national currencies and ensure the continued flow of expanding international trade.

Detailed explanation-3: -Europeans first became interested in Africa for trade route purposes. They were looking for ways to avoid the taxes of the Arab and Ottoman empires in Southwest Asia. Sailing around Africa was the obvious choice, but it was a long voyage and could not be completed without “pit stops” along the way.

Detailed explanation-4: -Those goods imported to Africa in greatest volume included cloth, iron and copper in raw and worked form, and cowry shells used by local populations as currency. Nonutilitarian items such as jewelry, beads, mechanical toys and curiosities, and alcohol also met a receptive audience.

Detailed explanation-5: -From here they acquired slaves and gold in trade for European goods, such as metal knives, beads, mirrors, rum, and guns. News of the successful trading spread quickly, and British, Dutch, Danish, Prussian and Swedish traders arrived as well.