MIRA
INFORM REPORT
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Report Date : |
04.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
ZANZIBAR
TELECOM COMPANY LTD |
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Registered Office : |
P O Box 77052 Dares Salaam |
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Country : |
Tanzania |
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Date of Incorporation : |
19/6/1999 |
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Com. Reg. No.: |
62857 |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Fixed Telephone
line and mobile telephone services provider |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
ZANZIBAR TELECOM COMPANY
LTD
Other Name
ZANTEL
Principal Address
P O Box 77052 Dares Salaam, Tanzania
Telephone: +255-24-5260063/ 5261111/ 5261177
Fax: +255-24-2234850
Email: customerservices@zantel.co.tz
Internet: www.zantel.co.tz
Established
19/6/1999
Registration
No. 62857 Dares Salaam, Tanzania
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
300
Office & Factories
Head offices Zantel, Dares Salaam, Tanzania
Branches Shangani, Zanzibar, Tanzania
Company Profile
Paid in Capital USD. 14,000,000
Subscribed Capital USD. 14,000,000
Shareholders
Name Position Amount
Ratio
Mr. A Mohamed
Salim CEO
Mr. Noel Herrity M Director
Mr. John Sihra Director
Etisalat shareholder 40.00%
Government of
Zanzibar shareholder 20.00%
Kintbury
Investments shareholder 20.00%
Meeco International shareholder 20.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 150,000 is recommendable
Affiliated Companies
None Stated
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. A Mohamed Salim |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mr. Noel Herrity |
Þ Top decision maker is the person who has the ultimate authority or power to make important managerial decisions. He/She may or may not be officially registered as a president or an executive director.
Business Activities
Fixed Telephone
line and mobile telephone services provider
Terms of payment
Buying terms 20% in cash, 80% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Eskadenia
Customers
Distributors, public,
stores etc
Recent Sales
USD. 30,000,000
(2006)
Exports
None
Export Ratio 0.0%
Import Ratio 30.0%
Domestic Market Share 30.0%
Banking relationship
Main Banks NBC Bank
CRDB Bank
Credit Check of Subject,
President & CEO
(as of report date)
Payment Morale : In the documents at our
disposal nothing adverse has been shown so far.
CREDIT RATING : Financial situation is
average.
COMMENTS
Maximum credit we recommend is USD 150,000 outstanding at any one time.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to
assess SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial condition (40%) Ownership background (20%) Payment
record (10%)
Credit history (10%) Market trend (10%) Operational
size (10%)