Colonialism & the Creation & Consolidation of Capitalism in Africa

The incorporation of African Economy into global economic system during colonial era marked the beginning of African predicaments. Africa were designed to produced what they cannot consume and to consumed what they cannot produced, Africa have been fixed at disadvantage position by colonialist. Dependence is conditioned by the subordinate position of Africa at various stage of this incorporation. This paper examines colonialism and the creation and consolidation of capitalism in Africa. The ‘dependency theory’ was used as the basis of analysis. This paper revealed that contemporary state of Africa underdevelopment is as a result of it contact with Europe (Colonialism) which geared to promoting capitalism in Africa. Therefore, secondary sources of data was adopted in this paper, further revealed that Africa have not actually benefited in the integration process due to African position as a raw material producer, it is therefore, recommended, that African countries must pursues industrialization, encourage exportation than importation, patronise local goods than foreign goods and diversification of the economy.