Capitalism in the Colonies

This book provides a fresh perspective on the role of African merchants under colonialism, particularly in Lagos, Nigeria, revealing their significant contributions to economic development.

In Capitalism in the Colonies, A. G. Hopkins presents a compelling narrative that challenges traditional perceptions of African merchants during colonial times. By focusing on the experiences of 100 merchants in Lagos, Nigeria, between 1850 and 1931, the author highlights the significant contributions of indigenous entrepreneurs to the economic landscape of the region. This thorough examination reveals that these merchants not only survived the colonial environment but thrived, driving innovations in various sectors such as trade, construction, farming, and finance.

Hopkins utilizes a broad array of sources to construct a detailed picture of the entrepreneurial landscape in Lagos. He emphasizes that African merchants were often more innovative than their expatriate counterparts, introducing advancements such as motor vehicles, sewing machines, and new forms of internal trade. The book also illustrates how these entrepreneurs laid the groundwork for essential industries, including the construction sector that transformed Lagos into a prominent port city and the cocoa-farming industry that expanded inland.

Ultimately, Capitalism in the Colonies posits that these indigenous entrepreneurs were instrumental in establishing the foundations of capitalism in Nigeria. By transitioning from single-owned businesses to limited liability companies and promoting wage labor, they played a crucial role in shaping Nigeria’s economic future. Hopkins’ work serves as a reminder that economic systems are brought to life through the actions of visionary individuals, rather than existing in isolation.