African Slave labour in the Americas and Carribeans are those enslaved Africans during the Atlantic Slave trade of the 16th century and 18th century conducted by European merchants.

Capitalism is an economic system based on private ownership of production and exploitation. It started with merchantilism wheres slave trade was introduced, them industrial capitalism abolished slave trade and monopoly capitalism, agreed by Marxists as imperialism.

The answers fir this question has to based on one side, refuting the statement by basing on Euro-centric view or Afro-centric view agreeing that slave trade contributed much on the development of capitalism.