It was established from the merger of the African Association and other colonial trading firms.
[citation needed] 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).
[2]: 91 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.
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