Colonial management liquidating corporation


When the company dissolved in 1799, Cape Town formed the nucleus of European (Boer) settlement of the Cape Colony in South Africa.

The second-longest-lived chartered company in Africa was the WIC (1621-1674), which folded due to debts incurred by long wars with the Portuguese and other European powers and the loss of key trading posts destroyed or captured by rival European nations.

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The company`s management are Director, President - Wilson David K, Director - Duarte John B Iii, Director - Gardner Richard.Their presence created a growing African market for European hardware, textiles, and weapons, for which Africans traded gold, ivory, and slaves.These new chartered companies, like the Dutch West India Company (WIC; founded 1621), had a legal monopoly on imports from Africa back to the home country and a license to seek monopolies in other markets, using armed force if necessary.These new types of chartered companies allowed larger amounts of capital to be raised; they separated stock ownership from management, and investors could sell stock instead of liquidating the firm periodically to retrieve assets and profits.In a hallmark of an emerging capitalist economy, the new chartered companies built up and reinvested their capital rather than redistributing all the invested capital and profits back to their owners after each voyage.Because of intense Portuguese, English, and French competition, the WIC was never able to monopolize the supply of slaves from Africa. Most chartered companies lasted no more than a generation or two.

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