Exploitations de la Tshuapa




The S.C.R.L. Exploitations de la Tshuapa was incorporated on June 5, 1928 with a capital of 2 million francs represented by 8,000 shares with a capital of 250 francs. The head office was in Boende, the administrative office in Antwerp. In addition, 7,000 founder's shares without designation of value were created, the number of which could never be increased or reduced, even by amending the articles of association.

Of the 8,000 shares issued, 4,800 shares were allocated to the S.A.Belge Union Agricole et Coloniale in liquidation for its contribution described below. Of the 7,000 shares issued, 400 founder's shares were added.

The 3,200 capital shares were subscribed for by Messrs.:

Waldor Housiaux, 1,160 shares; Raymond Glorie, 1,400 shares; Henri Delfeld, 200 shares; Victor Dujardin, 100 shares; Joseph Volkaerts, 140 shares; Fernand Wagemans, 80 shares; Jules Vermeerbergen, 80 shares; Charles Steenhaut, 40 shares.

The shares were fully paid up except for those subscribed by Mr. Waldor Housiaux, which are 20% paid up; a sum of 568,000 francs was made available to the Company. Mr. Raymond Glorie subscription is fully paid up by offsetting a debt owed to the Company.

The capital could be increased, by decision of the Board of Directors, to 10 million, within a period of two years from the foundation of the Company, by the issue of 32,000 new capital shares of 250 francs, the rate and method of issue of which will be determined by the Board.

The remaining 6,600 founder's shares were handed over to Mr. Raymond Glorie, who distributed them among the interested parties in accordance with their special agreements.


Union Agricole et Coloniale, in Brussels, in liquidation, contributed all its assets and liabilities to the new Company. This contribution included, in addition to the goods, the following real estate assets:

A building located at the corner of Avenue des Travailleurs and Routes des Sénégalais in Léopoldville containing an area of 10 Ares.56.

Buildings covering approximately 471 square meters, comprising:

A commercial and residential house, in brick masonry, plastered and whitewashed walls, corrugated sheet metal roofs, cement flooring, Eternit ceilings, glazed frames, consisting of a retail shop, six rooms, a veranda closed by means of mosquito netting, a kitchen and two adjoining rooms.

A masonry annex, comprising a bathroom and English W.C., an aseptic pit and a lost well.

A well with a masonry coping (drinking water).

A lean-to in corrugated sheets, used as a garage.

A wholesale store in brick masonry, corrugated sheet metal roofing, cement flooring, iron doors, of recent construction.

The whole estimated at 366,400 francs.

A house of 30 by 9 meters, containing the retail shop, reserve store and seven rooms for the housing of the agents, situated in Boende.

A house of 8 meters by 20 meters, product shed, located in Boende.

A house with two kitchens, located in Boende.

A house with a bathroom, English toilet and chicken house, located in Boende.

The whole on a 34 Ares plot of land and estimated at 300,000 francs.

The benefit of the leases concluded between the S.A. "Union Agricole et Coloniale" and the Belgian Congo Colony, relating to seven plots of land located in Boende, Bokaka, Besongo, Besongoti, Itako, Bokuka, Bekungu and the material belonging to the Company.

In remuneration of these contributions, 4,800 shares of capital were remitted to the Company Union Agricole et Coloniale, in liquidation, which will be exchanged in the proportion of 2 shares of 250 francs of the present Company for one share of 500 francs of the Company Union Agricole et Coloniale, paid up in the proportion in which the exchanged shares were themselves paid up.

The liquidator of Union Agricole et Coloniale was also given 400 founder's shares in Tshuapa, which he exchanged, on a share-for-share basis, for dividend shares in Union Agricole et Coloniale.

First Board of Directors

Were appointed as directors:

Messrs., Joseph Volkaerts, Raymond Glorie, Henri Delfeld, Fernand Wagemans, Joseph Volkaerts, Jules Vermeerbergen, Charles Steenhaut, René Glorie

Were appointed as commissioners:

Messrs. Victor Dejardin, Louis De Bruyn


The establishment in the Belgian Congo and in neighboring colonies of crops, livestock centers and forestry operations.

The installation on site of workshops and factories for the treatment of natural products and crops, especially wood and all its by-products.

The manufacture of all implements or materials used in agriculture and animal husbandry; all trade, including import and export.

The Company, in addition to the factories and counters, of which it was the owner through its merger with the Belgian Limited Company "Union Agricole et Coloniale", could acquire all concessions, emphyteusis, buy or lease all land and buildings, take care of agencies, representations, consignments, exploitation of deposits, mines or quarries, take an interest by way of transfer, contributions, mergers, limited partnerships, share subscriptions or in any other way, with any individuals or companies, acquire any business, patents, monopolies, contribute or transfer, permanently or temporarily, all or part of its assets, carry out all financial, commercial, industrial or real estate transactions likely to further its corporate purpose. This enumeration was enunciative and not restrictive (30-1928)-1439).


Because of its merger with the Société anonyme Union Agricole et Coloniale, founded in 1924, the Society Congolese Exploitations de la Tshuapa could be considered as an old case. It also benefited from a significant increase in the value of buildings in Congo.

The Exploitations de la Tshuapa had a perfect commercial organization, namely: head office in Boende (Equateur province); a group of very prosperous factories in the same region; an import, export and transit office in Leopoldville; and an administrative headquarters in Antwerp. Both the head office and the office in Leopoldville are in large buildings owned by the Company.

It had also created a bags department, specializing in the supply of packaging to the Companies. This department was formed by taking over the installations of Mr. Raymond Glorie, who had remained at the head of this department.

An application for a concession was submitted to the Ministry of Colonies to begin the creation of industrial and food-producing plantations (palm trees, cotton trees, coffee trees, etc.), by purchasing 500 hectares of cultivated land located in the district of Boende.

Other projects, but whose realization was even more distant, were under study, notably the establishment of an oil mill and the acquisition of boats, which would be very useful for the supply of the posts, and the mining question was also not lost sight of (21-(1930 T3)-1004/5).

Since 2015, the province of Tshuapa has been a province of the Democratic Republic of the Congo following the breakup of the historic province of Equateur. Its capital is Boende. It is also a river, a tributary of the Busira and a sub-tributary of the Congo river. 


Any reproduction, total or partial, without the express authorization of the site owner is prohibited.
Although I carry all my attention to the transcription of the data collected, errors can occur. Thanks for your understanding.
The shares, old titles and historical financial documents presented have no market value, they only have a collection value.