Conventional price elasticity of demand is a simplistic and elementary formula that has mathematical and economic deficiencies when applied to price (rates) and demand (balances) of deposit products: It does not recognize inverse relations between price and demand.
At its peak in 1300, the Mali Empire covered an area about twice the size of modern-day France and stretched to the west coast of Africa. In the late 19th century, during the Scramble for Africa, France seized control of Mali, making it a part of French Sudan.
MNM News Archives. An African emperor who ruled Mali in the 14th century discovered America nearly 200 years before Christopher Columbus, according to African griots. Mansa Abubakari II, the 'Voyager King' once ruled what was the richest and largest empire on earth - covering nearly all of West Africa. According to a Malian scholar, Gaoussou Diawara in his book, 'The Saga of Abubakari II... the emperor, who was a Muslim, gave up all power and gold to pursue knowledge and discovery.