In 1721, King Frederick William I of Prussia sold it for 7,200 ducats and 12 slaves to the Dutch West India Company.

In May 1682, the German colonization of Africa began when the newly founded Brandenburg African Company (BAC, in German Brandenburgisch-Afrikanische Compagnie), a company that administered the colony, which had been granted a royal charter by Frederick William, Elector of Brandenburg (core of the later Kingdom of Prussia), established a small West African colony consisting of two Gold Coast settlements on the Gulf of Guinea, around Cape Three Points in present Ghana: On 15 January 1701, the small colony was renamed Prussian Gold Coast Settlements, in connection with the founding of the Kingdom of Prussia, which formally took place three days later, when Frederick III, Elector of Brandenburg and Duke of Prussia, crowned himself King in Prussia (after which he became known as Frederick I of Prussia).

Prussia was the last major European power, and first German state, to enter transatlantic trade.

[3] The colony was founded for many reasons, mainly: for Prussia to increase its gold reserves,[4] to supply slaves for Prussia's entry in the human cargo trade, and to engage in gum arabic and ostrich feathers trade.

Prussia also leased part of the island Saint Thomas in the Caribbean (present-day part of the U.S. Virgin Islands) from the Kingdom of Denmark as a colony to which it could transport slaves, and thus a transatlantic trade between the Prussian Gold Coast and the Caribbean was born.