Positive Effects of Colonialism
Colonialism is a system in which a state claims sovereignty over territory and people outside its own boundaries; or a system of rule which assumes the right of one people to impose their will upon another. During the nineteenth and twentieth centuries, rich, powerful states, including Britain and other European countries, owned third world colonies. ‘Third world’ originally referred to countries that did not belong to the democratic, industrialized countries of the West (the First World) or the state-socialist, industrializing, Soviet Bloc countries (the Second World). This paper uses specific third world examples to summarize the main positive impacts of nineteenth and twentieth century colonialism, when colonial powers …show more content…
Banks and Investment Co.
The introduction of money to replace Barter trade system after colonization lead to the introduction of Banks. It enabled introduction of currencies and easy handling of trade in various countries which has greatly generated to growth and development in Africa. Also today people are able to get Credits, dividends and Invest money. Example, Kenya’s basic unit of currency is the Kenyan shilling, consisting of 100 cents (79.2 Kenyan shillings equal US$1; 2004 average). Currency is issued by the Central Bank of Kenya, established in Nairobi in 1966. An extensive network of commercial banks, both locally and foreign-owned, serves most of Kenya’s urban areas. The Nairobi Stock Exchange serves the whole country.
Technology has greatly improved the status of life in African countries, before colonization it was difficult to transfer information from one place to another, but the introduction on Computers, Telephone, Fax, Mailing services and others has eased up this situation. Since the 18th century, exploration on a global scale has received its main boost from the advance of