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.
There is one notable exception: Mali. The modern nation of Mali is named after an ancient African kingdom called the Empire of Mali that controlled parts of Western Africa from the 9th century through the 16th. Mali stretched roughly 1,200 miles across what is now parts of Niger, Senegal, Mauritania, Guinea, and of course, the modern nation of Mali.