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This type of capitalism was characterized by the mushrooming of many manufacturing industries that were small in size but competing in the production and maximization of profit. There are several effect chased due to competitive industrial capitalism in Africa among them are ;-

(a) Abolition of slave trade; The European powers abolished slave trade in Africa so as to get markets where they can sell their manufactured goods and raw materials.The European powers wanted the market but slaves would not provide them, hence this necessitated the abolition of slave trade.

(b) Introduction of legitimate trade; Legitimate trade refers to the type of trade that involved the buying and selling of natural resources; the European powers introduced legitimate trade which would make it possible to get raw materials such as palm oil, rubber and coffee needed by the European powers.

(c) Division of Africa among the European trading companies that shared Africa amongst them. These companies included British South Africa company that controlled South Africa, Zimbabwe + Zambia while the imperial British East Africa company controlled Uganda, Kenya and Zanzibar. These companies were searching for markets and raw materials that were needed by their respective government.

(d) Fall and rise of some states; Competitive industrial capitalism led to the fall some states in Africa because it involved the abolition of slave trade on which some states like Dahomey depended on, it also contributed to the rise of states because African state accumulation a lot of wealth out of the legitimate trade which was used to build states such as the Kingdom of King Jaja of Opobo.

(e) Influx of foreigners; It let to the influx of many foreigners, especially Europeans. These groups of Europeans included Explorers, Missionaries and traders, who later on paved way for the colonization of Africa by Europe.

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