Founding, early development, and expansion into water and electricity infrastructure The history of TEXAF dates back to 1924, when Valère Lecluse, director of the Lecluse Frères textile factories in
Ronse, traveled to the
Belgian Congo to establish a
cotton enterprise. Recognizing the potential of processing cotton locally, Lecluse requested land from the colonial authorities for the construction of a
textile plant. He was granted a provisional two-year lease on approximately 45 hectares of land, strategically located between the
Gombé River, the Léo 1 and Léo 2 railway lines, the Basoko River, and the
Congo River. The Lagache group held 95% of the initial 20 million
franc capital, with Lecluse retaining 5%. The founding board of TEXAF included members of the Lagache family—Henri Lagache (president), Victor Lagache (vice president), Léon Lagache (managing director), and Edmond Lagache (director)—alongside Lecluse, Joseph Dieudonné Rhodius (who would later serve as managing director in Belgian Congo from 1934 to 1947 and vice president from 1947 to 1957), and cotton trader Robert Pflieger. Its portfolio came to include UTEXLÉO, the
Société des Forces Hydroélectriques de Sanga, IMAFOR, and the public water utility REGIDESO. However, the collapse of
Crédit Anversois in 1939 further destabilized the group, and its stake in TEXAF was taken over by SOPABEL. Due to the outbreak of
World War II, the liquidation of
Crédit Anversois could not proceed, and UTEXLÉO inherited a considerable debt of 106 million francs. Despite these setbacks, UTEXLÉO continued its industrial operations. In 1936, a printing workshop was added, allowing the factory to focus on printed textiles. Nevertheless, the company faced fierce competition from inexpensive Japanese indigo fabrics, whose production and import costs drastically undercut UTEXLÉO's pricing. Consequently, TEXAF's stock value plummeted from its 1928 peak of 3,845 francs to just 47 francs by the end of the decade. The onset of World War II marked a shift in priorities. Against his Board's advice, Joseph Rhodius traveled to the
United States to secure machinery and technology for a major expansion project aimed at doubling the factory's capacity to meet military and civilian demand. This led to the construction of an additional 3 hectares of facilities for 78 million francs. In the post–World War II period, TEXAF entered a phase of exceptional prosperity. Between 1951 and 1960, the company distributed dividends totaling 360.2 million
Belgian francs. Investment in new machinery, including 5,400
Saco-Lowell spindles and 422 second-hand
Draper looms, enabled substantial production increases.
Joint ventures and restructuring At the start of 2001, UTEXAFRICA—TEXAF's principal operating company—faced a critical financial challenge when IFC demanded immediate repayment of
EUR 31 million in outstanding debt originating from a 1988 loan. A settlement was reached in December of the same year with the support of COBEPA, paving the way for operational continuity. Implementation of these agreements began in 2005, at a time when the DRC was emerging from conflict and
preparing for national elections. By 2006, TEXAF had recovered sufficiently to resume dividend payments. In 2007, the group diversified into real estate with the acquisition of ANAGEST—owner of three apartment buildings—from the ATENOR Group. That same year, however, marked the end of textile production in the country, as Congotex was put into liquidation. With the collapse of the Congolese textile industry, UTEXAFRICA became the majority shareholder in IMMOTEX and redirected its core activities toward property development. From 2008 onward, TEXAF invested heavily in enhancing and expanding the UTEXAFRICA site, adding a restaurant, a large swimming pool, and backup generators to support high-end residential infrastructure. In 2009, TEXAF acquired the remaining 50% of CARRIGRES—its construction material business—for EUR 5.75 million. Later that year, the group let out its first high-end apartment building in the "Phase IV" complex, a EUR 12 million real estate investment that signaled the beginning of a new growth trajectory in urban development. The early 2010s saw the group further consolidate its position in real estate. In January 2011, it sold a 70% stake in the three apartment buildings acquired in 2007 for EUR 2.4 million. In July 2012, it also divested its 50% stake in MECELCO for approximately EUR 1 million. By December 2012, the "Phase IV" project had been completed, delivering 54 modern apartments. In June 2013, the first three buildings of a new residential development, "Champ de Coton" ("Cotton Field"), were let out, and a 7,236-square-meter plot was sold the following month for USD 4.1 million. In 2014, the CHA Textiles group acquired a 10% stake in TEXAF. That same year, the group spun off IMBAKIN, which held a debt claim on the Congolese government. The "Champ de Coton" project was completed in May 2015 with a total of 10 buildings and 52 apartments. In October 2016, the "Clos des Musiciens" residential project was delivered, adding 33 new apartments to the portfolio. In April 2017, the group launched its ambitious "Bois Nobles" project, which was projected to include 82 housing units. == Organizational structure ==