African & Eastern Trade Corporation
Encyclopedia
The African and Eastern Trade Corporation was incorporated in Liverpool
in 1919 and had establishments in several African Colonies.
.
It served in the Congo side by side with the British Consulate as a semi-official representative for British trading interests in that Colony. Both Huileries du Congo Belge (HCB)
and the African and Eastern Trade Corporation employed a number of English-speaking employees of both European and African origin.
.
In 1929 the corporation merged with the Royal Niger Company
(both owned by Lever Brothers
) forming a new trading enterprise, the United Africa Company Limited (UAC)
.
The African and Eastern Trading Corporation was also a large share owner in the Ashanti goldfield in the Gold Coast
, as well it had a shipping line. By 1930 the merged United Africa Company was having financial difficulty and had suffered large losses, mainly because of the African and Eastern Trade Corporation component being unable to bear its half-share of the UAC losses. By this time the parent company Lever Brothers had amalgamated with the Margarine Union
to form the company known as Unilever
. Unilever came to the rescue with millions of pounds, in return for which Unilever took over the conglomerate of companies.
Liverpool
Liverpool is a city and metropolitan borough of Merseyside, England, along the eastern side of the Mersey Estuary. It was founded as a borough in 1207 and was granted city status in 1880...
in 1919 and had establishments in several African Colonies.
.
It served in the Congo side by side with the British Consulate as a semi-official representative for British trading interests in that Colony. Both Huileries du Congo Belge (HCB)
Feronia Inc.
Feronia Inc. is a public company listed on the TSX Venture Exchange, in operation since 1911 as a large-scale commercial farmland and plantation operator in the Democratic Republic of the Congo . The Company uses modern agricultural practices to operate and develop its oil palm plantations and...
and the African and Eastern Trade Corporation employed a number of English-speaking employees of both European and African origin.
.
In 1929 the corporation merged with the Royal Niger Company
Royal Niger Company
The Royal Niger Company was a mercantile company chartered by the British government in the nineteenth century. It formed the basis of the modern state of Nigeria....
(both owned by Lever Brothers
Lever Brothers
Lever Brothers was a British manufacturer founded in 1885 by William Hesketh Lever and his brother, James Darcy Lever . The brothers had invested in and promoted a new soap making process invented by chemist William Hough Watson, it was a huge success...
) forming a new trading enterprise, the United Africa Company Limited (UAC)
United Africa Company
The United Africa Company was a British company which principally traded in West Africa during the 20th century.The United Africa Company was formed in 1929 as a result of the merger of the Royal Niger Company, which had been effectively owned by Lever Brothers since 1920, and the African &...
.
The African and Eastern Trading Corporation was also a large share owner in the Ashanti goldfield in the Gold Coast
Gold Coast (British colony)
The Gold Coast was a British colony on the Gulf of Guinea in west Africa that became the independent nation of Ghana in 1957.-Overview:The first Europeans to arrive at the coast were the Portuguese in 1471. They encountered a variety of African kingdoms, some of which controlled substantial...
, as well it had a shipping line. By 1930 the merged United Africa Company was having financial difficulty and had suffered large losses, mainly because of the African and Eastern Trade Corporation component being unable to bear its half-share of the UAC losses. By this time the parent company Lever Brothers had amalgamated with the Margarine Union
Margarine Unie
The Dutch company Naamlooze Vennootschap Margarine Unie grew in the 1920s through mergers of several margarine companies, among which Centra and Schicht and above all the companies of Antonius Johannes Jurgens and Samuel van den Bergh...
to form the company known as Unilever
Unilever
Unilever is a British-Dutch multinational corporation that owns many of the world's consumer product brands in foods, beverages, cleaning agents and personal care products....
. Unilever came to the rescue with millions of pounds, in return for which Unilever took over the conglomerate of companies.