In 1462, Portuguese settlers arrived at Santiago and founded Ribeira Grande (now Cidade Velha) — the first permanent European settlement city in the tropics. In the 16th century, the archipelago prospered from the transatlantic slave trade. The first population settlement was established at the Port of Praia with people from the villages of Ribeira Grande in 1515. Sir Francis Drake sacked Ribeira Grande in 1585. After a French attack in 1712, the city declined in importance and Praia became the capital in 1770. In 1858, the village of Praia was elevated to the category of city, with the name ‘City of Praia de Santiago'. It was the Portuguese that changed the status of the city to a growing overseas province. On June 30, 1975, Cape Verdeans elected a National Assembly, which received the instruments of independence from Portugal on July 5, 1975.