Constitution 

The Banque Belge d'Afrique was incorporated on August 23, 1929, with a capital of seventy million francs, represented by 120,000 shares of 500 francs series A and 20,000 shares of 500 francs series B. The head office was established in Brussels. 

The 120,000 shares of five hundred francs series A were subscribed by: the Bank of Brussels, 119,710 shares; Mr. Désiré De Schoenen, 50 shares; Mr. Wiliam Thys, 50 shares; Mr. Oscar Guastalla, 50 shares; Mr. Maurice Soesman, 50 shares; Mr. Frans Brusselmans, 50 shares; Mr. Louis Vanroechoudt, 20 shares; Mr. Gustave Tibbaut, 20 shares.

The 120,000 shares were paid up by 20%, the total amount of twelve million was put at the disposal of the new company.

The 20,000 fully paid-up series B shares were allocated to Crédit Général du Congo as a contribution remuneration (33-(30-08-1929)-13671). 

The Banque de Bruxelles offered the 119,710 series A shares for subscription to the shareholders of Crédit Général du Congo at the price of 530 francs per share, from September 10 to 20, 1929, on an irreducible basis, at the rate of 1 series A share per 10 Crégéco shares (21-( 1930 T3)-21).

Contribution(s) 

The Crédit Général du Congo contributed to the new Bank its goodwill from the banking establishments it operated in Brussels and in the Belgian Congo, including, in particular, the clientele, equipment, furniture, counter and office fittings, archives, commercial papers, acceptances, promises, checks and other securities, cash, deposit accounts, receivables, current accounts and credit openings, etc., as specified in a summary of the situation as of June 30, 1929. All banking operations conducted by the Crédit Général du Congo since June 30, 1929, were considered as conducted by the new Bank (21-( 1930 T3)-21).

First Board of Directors 

Directors

Mr. William Thys, Mr. Léon Massaux, Mr. Désiré De Schoonen, Mr. Jules Renkin, Mr. Frans Brusselmans, Mr. Maurice Soesman, Mr. Franz Dupont, Mr. Willy Friling, Mr. Oscar GuaStalla, Mr. Herman-William Marsily.

Commissioners

Mr. Henri Vercruysse, André Mussche, Gustave Tibbaut, Louis Vanroechoudt (21-( 1930 T3)-21).

Object 

In all countries, all banking, stock exchange, finance, treasury, commission and del credere operations (21-( 1930 T3)-21).

Change of capital, event(s), participation(s) 

The Banque Belge d'Afrique was a subsidiary of the Banque de Bruxelles and had branches and agencies in Albertville, Basankusu, Boma, Buta, Coquilhatville, Costermansville, Elisabethville, Léopoldville, Likasi, Lusambo, Matadi, Stanleyville, Thysville, and Uvira (21-( 1930 T3)-21).

It later had branches in French Africa: Bangui, Brazzaville, Dakar and Pointe-Noire

Opposite, headquarters of the regional management of Brazzaville - 1950 report of the Banque Belge d'Afrique.

In 1934, given the exceptionally elevated level of available funds, since the crisis had reduced business opportunities, the current capital was clearly too high. To bring it more into line with the new situation, the meeting of March 6 decided that the Bank should buy back a maximum of 70,000 shares at a price of three hundred francs each. Shareholders had the option of offering their shares at the price of three hundred francs for a period of one month, expiring on April 10, 1934. The meeting of June 25, 1934, following the repurchase of 48,000 series A shares and 20,000 series B shares with a par value of five hundred francs each at a price of three hundred francs per share, decided to reduce the capital by thirty-four million francs, from seventy million to 36 million francs. The remaining 72,000 series A shares were to be called "capital shares". The capital was then thirty-six million francs, represented by 72,000 capital shares of five hundred francs (21-(1934 T1)-994) (21-(1934 T2)-1401).

In 1949, the S.A. Banque Belge d'Afrique, established on August 23, 1929, was put into liquidation on January 26; the same day a new Congolese company was created under the same name.

The former Belgian S.A. contributed all its assets and liabilities. This contribution was remunerated by the attribution of 36.000 shares of 1.000 Congolese francs, the shareholders of the Belgian S.A. in liquidation Banque Belge d'Afrique received one share of the constituted company for two old shares. The Head office was established in Leopoldville (21-(1951 T2)-1951).

On May 3, 1950, the Assembly decided to increase the capital to bring it from 36 to 72 million Congolese francs, by the creation of 36.000 new shares of 1.000 Congolese francs each, of the same type and enjoying since July 1, 1950, the same rights, and advantages as the existing shares. These shares were subscribed by the Bank of Brussels which undertook to retrocede them by preference to the owners of old shares: a) on an irreducible basis 1 new share for 1 old one at the price of 1.500 Congolese francs, plus 70 francs for expenses; b) on a reducible basis the new shares not absorbed by the exercise of the right of preference, and this without delivery of fraction, at the same price of 1.500 francs; increased by 70 francs for expenses (21-(1951 T2)-1951).

On December 28, 1951, the Assembly decided to increase the capital by 72 million Congolese francs, to bring it from 72 to 144 million Congolese francs, by the creation of 72,000 new shares of 1,000 Congolese francs each, of the same type and enjoying since January 1, 1952 the same rights and advantages as the existing shares, except for the participation in the dividends relating to the financial year 1951. These shares were subscribed by the Bank of Brussels which undertook to retrocede them by preference to the owners of old shares: a) on an irreducible basis 1 new share for 1 old share at the price of 1.500 Congolese francs, plus 70 francs for expenses; b) on a reducible basis the new shares not absorbed by the exercise of the right of preference, and this without delivery of fraction, at the same price of 1.500 francs, increased by 70 francs for expenses (21-(1952 T2)-1403).

At the independence of the Congo, the Bank took on the legal status of a Congolese company and transferred all the assets and liabilities of its Brussels and Antwerp headquarters to a new limited company under Belgian law, "Banque Belge d'Afrique - Europe". Each shareholder received one share in the new Banque Belge d'Afrique - Europe for every two shares of the Congolese company held. Consequently, the capital was reduced to seventy-two million Congolese francs which was increased, the same day, of 72 million to bring it to 144 million Congolese francs, by incorporation of reserves, without creation of new securities. The capital of 144 million Congolese francs represented by 144.000 shares of 1.000 Congolese francs (21-(1961 T2)-1459/60).

On November 15, 1965, the meeting decided to transform the shares of 1,000 Congolese francs into shares without designation of nominal value and increased the capital from 144 to 304 million Congolese francs by taking 160 million Congolese francs from the "Surplus on the revaluation of the buildings" and created 144,000 new shares without designation of value which were allotted free of charge to the shareholders at the rate of one new share for one old share, with dividend rights as of January 1, 1966; a stamp on the share indicated the doubling of the number of shares.

The capital was then increased from 304 to 400 million Congolese francs by the creation of 64,000 new shares without designation of value, dividend date January 1, 1966, subscribed by the Democratic Republic of Congo at the price of 1,500 Congolese francs, one. The capital was then represented by 352,000 shares (21-(1966 T2)-1226).

On June 24, 1967, following the monetary reform establishing the Zaïre as a monetary unit, the capital of four hundred million Congolese francs was converted into 400,000 Zaïre’s (21 -(1969 T2)- 1230).

On November 27, 1968, the Assembly decided to increase the capital from 400,000 to 800,000 Zaïre’s by the creation of 352,000 new shares without designation of value, with dividend rights as of January 1, 1969, at a price of Z. 1.50.00 per share, of which 64,000 were subscribed by the Democratic Republic of the Congo up to the amount of the preferential right it could exercise in its capacity as a shareholder owning 64,000 old shares.

The remainder of the new shares were offered to the other old shareholders based on one new share for one old share at the price of 1.70.00 Zaïre or 170 Belgian francs (including expenses).

The Bank of Brussels, in accordance with an agreement with Standard Bank Limited, transferred to the latter half of the shares of "Banque Belge d'Afrique" which it owned after these operations (21-(1969 T2)-1230).

Subsequently, the bank changed its name to Union Zaïroise de Banque UZB and then to Union Congolaise de Banque, which was declared bankrupt in 2006. 

The Banque Belge d'Afrique-Europe was absorbed on November 20, 1962 by the Compagnie Financière et Industrielle (COFININDUS). In 1963, there was an exchange of shares at the rate of 2 COFININDUS shares for 5 Banque Belge d'Afrique - Europe shares (2-1963).

Dividend(s), quotation