“Each year, on the 25th of May Africans from all walks of life celebrate Africa Day. The roots of Africa Day hark back to 1963 when the Organization of African Unity (OAU) was instituted in Addis Ababa, Ethiopia.|
Day, Africa, et al. “50 years of the OAU: What is the meaning of Africa Day.”
(From searchfiletype.com )
The policy of New Imperialism emerged around the period, 1870. It is thus termed because the imperialist nations, usually European powers such as France, Spain, Britain, Russia, Germany and Italy, were exploring and setting up territorial settlements and negotiating on a different part of the globe. New Imperialism continued the policy or action by which one country controls another country or territory. Raymond F. Betts argues that “most such control is achieved by military means to gain economic and political advantage.” Such a policy is also called expansionism; this policy creates an expansionist state that obtains overseas territories following a policy called colonialism. There are many reasons or motives for the sudden greater interest of the European powers in Africa and Asian territories. Furthermore, it could be said that the political and social factors stemmed from economic ones.
Industrialization [which began in the mid-1700 in Britain but spread to other lands] propelled entrepreneurs and capitalists to search for new economic ventures. As a result of this, there was immense competition between the countries for raw materials, investments opportunities, markets and labour for the industries. What the capitalists and entrepreneurs really wanted was a high profit margin. They realized that such profits could be achieved through a greater abundance of raw materials at cheaper price, investment opportunities that would add much to that profit and new markets that would increase their sales. As a result, they targeted Asia and Africa; rich in resources both raw materials and of people were ideal places for these capitalists and entrepreneurs. The tropical rainforest, the temperate savannahs and other lands of plains each provided their own resources ranging from rubber, silk, tea, and cotton, indigo to diamonds. Rich lands such as Algeria, Morocco and the Ivory Coast are examples of African lands that attracted these European people. India, was also important to Britain because of its supply of tea which demand drastically increased within the English Channel. China also had its share of wealth with the raw material silk.
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