The Economy of the Asante Empire was largely a pre-industrial and agrarian economy. The Asante established different procedures for mobilizing state revenue and utilizing public finance. This article delves into the economic structure, trade practices, and market dynamics that shaped the Asante Empire.
Map of the Asante Empire
Trade Routes and Commodities
Asante trade extended upon two main trade routes; one at the North and the other at the South. The Northern trade route was dominated by the trade in Kola nuts and at the South, the Asante engaged in the Atlantic Slave Trade. In the southern trade routes, the Asante sold gold, ivory, slaves, and rubber in exchange for firearms, lead bars, gunpowder, drinks, and salt.
At the market towns on the northern trade routes, the Asante merchants exchanged kola nuts for salt and European goods for shea butter, livestock, cotton silk threads and cloths, metal locks, gold and slaves. After the early 19th century ban on the Atlantic Slave Trade south, the Asante invested more into the northern trade.
Historian Austin writes that Asante's main exports in the 19th century were kola nuts to the north, and gold at the south. Rubber replaced gold as the major export south in the last two decades of the century. The northern trade saw participation by all individuals and families irrespective of their social status.
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Currency and Revenue
Gold dust was the main currency of the Asante Empire. Mperedwan or Peregwan was the highest denomination in Asante. One Peregwan was equal to an Asante weight of 2.25 troy ounces.
According to Ratray, the Omanhene obtained revenue through death duties, trade, court fees and fines as well as mining. The collection of revenue was decentralized. All Paramount Chiefs and Sub-Chiefs possessed a local treasury in their jurisdiction which was managed under the auspices of the Sanaahene, the Royal Treasurer. It was the local treasury that the chiefs contained their revenue into.
Revenue was also acquired from gold mining. One third of the proceeds went to the tenant on whose land the mines were worked upon. The Asante had an effective system of accounting to control public funds. The state treasury was made up of two boxes known as Adaka Kesie (Big Box) and Apim Adaka (Box of thousand) in separate rooms.
The treasury system of Asante was similar to the Imprest system. Historian Afosa likens the Adaka Kesie to a Current Account and the Apim Adaka to a Petty Cash account. The money in the Apim Adaka was weighed in small packets in order to be used for purchases.
In the early 19th century, 400,000 oz of gold dust at a value of £1.5 million at that time, was required to keep the Adaka Kesie full. The keys to the Adaka Kesie were kept under the care of the chief, the Sanaahene, and the chief of the "bed-chamber," known as Daberehene.
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War taxes known as apeatoo were paid by adult men and women over the age of 18. According to Bowdich, the Asante had not less than 21 tributary states by 1819. The annual tribute was paid in gold, slaves, cattle, poultry, and native manufactured cloth. Failure to pay tribute was equivalent to a rebellion.
Markets and Internal Trade
In the early 19th century, markets became essential in Asante economy. Markets were held daily from eight o'clock in the morning until sunset. Bowdich pointed out that these markets had about sixty stalls and sheds. Foreign imports into these markets included pillows, pipes, tobacco, and brassware. There was the presence of internal marketing and retailing. Marketing and retailing were done by both men and women.
Under Osei Kofi Tutu I, the Asante established commercial relations with European merchants at the coast following the victory over Denkyira in 1701. Asante rulers commanded the bulk of the trade with Europeans at the coast. Commoners still took part in the trade with Europeans as noted by Scholar K.Y. Daaku. Asante Commoners traded primarily in rubber at the coast.
Long-distance trading was carried out by occasional, professional and state-funded traders. Certain villages were specialized in a particular craft. It was common for the Asante government to settle war captives with craft skills in such villages. The village of Bonwire was specialized in cloth-weaving. Ntonso was specialized in cloth-dyeing, Pankrono in pottery, Ahwiaa in wood working, Breman and Adum in goldsmithing and metalworking. All these villages and settlement were located 15 miles of Kumasi.
Mining was both an individual and communal chore. Individuals along with children partook in gold panning and shaft mining while slaves formed the major labor force on gold mines. Deep shafts were common and such mines could reach 100 feet deep. Miners had to dig or chop Feldspar and granite in the mines but gunpowder could be used as explosives to blast hard rock.
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Trade in slaves was a major tradition in pre-colonial Asante culture. Slaves were typically taken as captives from enemies in warfare. During the reign of Asantehene Osei Kwame Panyin (1777-1803), the sale of Asante citizens into slavery was banned.
Agriculture
From the 17th century, the Asante economy revolved around the rural production of staple crops which was supplemented by hunting. Asante agriculture was in a subsistence form during this time period. Throughout history, the Asante used the axe, cutlass, billhook and hoe for clearing and maintaining the land. Asante farmers practiced both land and crop rotation.
From the 19th century, agriculture became intensified and extensive especially in and around Kumasi. Certain farms such as Kola plantations were established with the exclusive aim of generating revenue for into the chief's treasury.
History of The Ashanti Empire of Ghana
Gender and Market Dynamics
Political elites have used market traders as loyal supporters and as scapegoats for many centuries. These relations have taken a convoluted path that alternates between alliance and repression, in the context of shifts in the political and economic environment.
Asante Market Women: Key players in the local economy
Summary of Asante Empire's Economic Activities
| Activity | Description |
|---|---|
| Trade | Dominated by Kola nuts in the North and the Atlantic Slave Trade in the South. |
| Currency | Gold dust, with Mperedwan (Peregwan) as the highest denomination. |
| Revenue Generation | Death duties, trade, court fees, fines, and gold mining. |
| Agriculture | Subsistence farming with staple crops and hunting, later intensified with Kola plantations. |
| Craft Specialization | Villages specialized in cloth-weaving, dyeing, pottery, woodworking, and metalworking. |
