by Tony Hemrix

BEFORE COWRIES: AFRICA’S FORGOTTEN CURRENCIES

Long before cowries glittered between the fingers of African merchants, and even before European powers imposed their colonial economy, Africa had already developed its own monetary systems. Across the continent, people had created complex economies built on currencies as diverse as their civilizations. From the gold of the Sahelian empires to the copper rings of the Congo, each society had found a unique way to trade, store wealth, and establish influence.

Today, as Africa’s history is often told through the lens of foreign powers, it is time to unearth this forgotten past and rediscover the currencies that once made the heart of the African economy beat.

GOLD: THE CURRENCY OF EMPERORS

In popular imagination, Africa and gold are inseparable. But this precious metal was not just a treasure; it was the backbone of a sophisticated economic system.

The Ghana Empire (3rd-13th century), the Mali Empire (13th-16th century), and later the Songhai Empire (15th-16th century) built their prosperity on gold. At the time, gold dust served as currency in the Sahelian markets, exchanged for salt, textiles, and horses. Arab and European traders crossed the Sahara to acquire it, making this region a global economic hub.

But gold was not just a commercial instrument; it was also a symbol of power. The famous Mansa Musa, Emperor of Mali, illustrated this wealth in 1324 when he undertook a pilgrimage to Mecca, distributing so much gold along the way that its value collapsed for several years in Egypt.

SALT: THE WHITE GOLD OF THE SAHARA

Long before gold became the dominant currency, salt was the real king of trade. In a continent where food preservation was crucial, salt was more valuable than metal.

Entire caravans crossed the desert, transporting massive blocks of salt from Taghaza (modern Mali) and Bilma (Niger) to the markets of the Sahel. In some regions, these blocks were used directly as currency, exchanged for horses, slaves, or grains. In Timbuktu and Djenné, a bar of salt could be worth its weight in gold.

COPPER AND IRON: THE CURRENCY OF BLACKSMITHS

In the forests of the Congo and Nigeria, gold and salt gave way to another form of wealth: metals.

Copper was used as currency in several kingdoms, particularly among the Luba and Lunda (modern-day DRC and Angola). Copper rings, known as manillas, circulated like coins and were essential in the trade of slaves and valuable goods.

Iron, on the other hand, served as both a tool, a weapon, and a currency. In some societies, an iron blade could be used as payment, while blacksmiths were revered as sacred figures capable of transforming metal into wealth.

LIVESTOCK: THE CURRENCY THAT WALKS

In the plains of East Africa and the Sahel, wealth was not measured in gold or salt but in livestock. Among the Fulani, Maasai, and Zulu, owning a large herd of cattle was the ultimate sign of prestige and prosperity.

Cattle were used as currency for dowries, fines, and commercial transactions. A rich man was not one who possessed gold coins, but one whose herd stretched as far as the eye could see.

BEADS, TEXTILES, AND SHELLS: ART AS CURRENCY

In some regions, wealth was measured through art and craftsmanship.

• Glass beads, especially those from Venice and the Middle East, were used as currency in West and Central Africa.

• Precious textiles, such as the Kente cloth among the Ashanti or the indigo-dyed fabrics of Mali, also served as a unit of value.

• Before the mass introduction of cowries, some African peoples already used local shells, though their use remained limited.

THE IMPACT OF COWRIES: A MONETARY REVOLUTION

When cowries first appeared in Africa around the 9th century, they quickly replaced many of these traditional currencies. Easily transportable, difficult to counterfeit, and abundant due to trade with Asia, they became the primary medium of exchange on the continent for centuries.

However, this transition was not without consequences. Cowries, massively imported by Europeans during the transatlantic slave trade, were used to purchase enslaved people, profoundly restructuring Africa’s economy.

A PAST TO RECLAIM

Africa has never been a continent stuck in barter or monetary underdevelopment. Long before cowries arrived and long before colonial currencies were imposed, it had already established sophisticated monetary systems adapted to its environment and needs.

Today, as Africa seeks economic independence, it is essential to remember that the continent has always had its own vision of currency. And perhaps, by revisiting these ancient forms of wealth, valuable lessons can be learned for the future.

Because history teaches us one thing: a people’s true currency does not lie in gold or paper, but in their ability to create, trade, and prosper on their own terms.