MIRA INFORM REPORT

Report Date :

25.05.2011

IDENTIFICATION DETAILS

Name :	AFRICELL LINTEL (SL) LTD

Registered Office :	25 Bathrust Street, Freetown

Country :	Sierra Leone

Date of Incorporation :	28.02.2005

Com. Reg. No.:	198794 Sierra Leone

Legal Form :	Limited Liability Company, Limited By Shares

Line of Business :	Mobile telephony service provider etc

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	50,000 USD
Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Sierra Leone

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Bottom of Form

REGISTERED NAME & COMPANY SUMMARY

COMPANY REPORTED:	AFRICELL LINTEL (SL) LTD
Other Name	AFRICELL LINTEL (SIERRA LEONE) LTD
Principal Address:	25 Bathrust Street, Freetown, Sierra Leone
Telephone:	+232-22-226213
Fax:	+232-22-226214
Email:	info@africell.sl
Internet:	www.africell.sl
Established:	28/02/2005
Registration:	198794 Sierra Leone
Legal Form:	limited Liability company, Limited by shares
Stock Listing:	Not Listed
Workforce:	2010
	300

CREDIT RECOMENDATION

Current Credit Limit: 50,000 USD

DIRECTORS/MANAGEMENT

Management/ Directors
President/ CEO (1)
Name	Mr. Ziad Kabrit
Work Experience	10 years in this line of business
Remarks	Top Decision Maker
President/ CEO (2)
Name	Mr. Mohamad Ghaddar
Work Experience	10 years in this line of business

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.

NEGATIVE INFORMATION

No negative information found.

SHARE & SHARE CAPITAL INFORMATION

Company Profile:
Paid in Capital	SLL. 50,000,000,000
Subscribed Capital	SLL. 50,000,000,000
Shareholders
Name	Position	Amount	Ratio
Mr. Ziad Kabrit	CEO
Mr. Mohamad Ghaddar	Director
Mr. Amara Bangalie	Director
Lintel Holding	Holding Co.		100.00%
Total			100.00%

PAYMENT INFORMATION

	Terms of payment
Buying terms	30% in cash, 70% on credit
Selling terms	80% in cash, 20% on credit

Suppliers	Ercisson, Siemens, Linfra etc
Customers	Agents, distributors and retailers etc

Recent Sales	USD. 150,000,000 (2010)
Exports	None
Export Ratio	0.0%
Import Ratio	10.0%
Domestic Market Share	20.0%

GROUP STRUCTURE & AFFILIATED COMPANIES

Affiliated Companies
Company (1)	AFRICELL GAMBIA LTD

FINANCIAL INFORMATION

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Office & Factories
Head offices	No. 25, Bathurst Street, Freetown, Sierra Leone
Branches	3 In major towns of sierra Leone

Business Activities	Mobile telephony service provider etc
	Terms of payment
Buying terms	30% in cash, 70% on credit
Selling terms	80% in cash, 20% on credit

Suppliers	Ercisson, Siemens, Linfra etc
Customers	Agents, distributors and retailers etc

Recent Sales	USD. 150,000,000 (2010)
Exports	None
Export Ratio	0.0%
Import Ratio	10.0%
Domestic Market Share	20.0%
Banking relationship
Main Banks	SLCB Bank

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.25
UK Pound	1	Rs.72.82
Euro	1	Rs.63.58

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
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
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.