In 1724, Rice joined the Royal African Company (RAC) and was appointed as the factor for the Cape Coast Castle (a trading post of the RAC) as part of a three-man team headed by Captain-General John Tinker to administer the post's trade in gold, silver and slaves.
In 1724, Rice joined the Royal African Company (RAC) and took on a role as the administrator for the Cape Coast Castle, part of a team led by Captain-General John Tinker that handled commerce in valuable resources and people.