COMPAGNIE AFRICAINE DE NAVIGATION S.A.
The Compagnie Africaine de Navigation was incorporated on January 31, 1920 with a capital of 10 million francs represented by 20,000 shares of 500 francs. The registered office was established in Antwerp.
The 20,000 shares were subscribed by:
The Belgian shareholders of the Compagnie Belge Maritime du Congo had the option of purchasing shares in the Company from March 25 and April 5, 1920, as of right, at 505 francs and in the proportion of 5 shares of the Compagnie Africaine de Navigation for 6 shares of the Compagnie Belge Maritime du Congo (21-(1920 T1)-1299).
First Board of Directors
Changes in capital
1920 - The company acquired five cargo ships: the Mayumbe, Matadi, Mateba, Madimba and Uromi, representing approximately 22,000 tons deadweight.
1921 - The Madimba, off Dover sailing towards Africa was boarded and sunk. The steamer Uromi was sold to the Compagnie Belge Maritime du Congo (21-(1922 T1)-1624).
1922 - The results of the 1922 financial year were far from satisfactory, the loss on the balance sheet was 1,400,000 francs against 680,000 francs the previous year (21-(1924 T1)-1457).
1925 - To meet the demands, the company acquired two new units, the Maniema and the Mamkiba. The company's situation improved, a profit of 99,000 francs was recorded (21-(1926 T1)-1846).
1927 - The company purchased two cargo steamers from the Compagnie Belge Maritime du Congo and placed an order for a 5,000-tons freighter. The company took a stake in the Mercantile Marine Engineering Works Public limited company incorporated in Antwerp on December 30, 1925 under the name Mercantile Marine Engineerings Works. It changed its name to Mercantile Marine Engineering and Graving Docks Cy on September 10, 1928.(21-(1928 T3)-131).
Dissolution and liquidation
The EGM of June 11, 1929 decided to dissolve the Company by contribution of its active and passive situation to the Compagnie Belge Maritime du Congo, in exchange for the 45,000 fully paid up shares of 500 francs of the Compagnie Africaine de Navigation. The exchange of shares took place from November 1, 1929 based on one share of Compagnie Belge Maritime du Congo for two shares of Compagnie Africaine de Navigation. The liquidation was closed on November 7, 1929 (21-(1929 T3)-201).