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Report Date : |
01.12.2012 |
IDENTIFICATION DETAILS
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Name : |
REPUBLIQUE DU |
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Registered Office : |
Ministere De La Defense National Et Des Anciens Combattants Direction
Generale Des Approvision Nements E7 De Lagestion |
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Country : |
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Year of Establishment : |
1906 |
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Legal Form : |
State Corporation |
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Line of Business : |
Formulation and facilitation of defence policies
and national veterans in |
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No. of Employees : |
15000 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Burundi |
C2 |
C2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Burundi is a landlocked, resource-poor country with an underdeveloped manufacturing sector. The economy is predominantly agricultural. It accounts for just over 30% of GDP and employs more than 90% of the population. Burundi's primary exports are coffee and tea, which account for 90% of foreign exchange earnings, though exports are a relatively small share of GDP. Burundi's export earnings - and its ability to pay for imports - rests primarily on weather conditions and international coffee and tea prices. The Tutsi minority, 14% of the population, dominates the coffee trade. An ethnic-based war that lasted for over a decade resulted in more than 200,000 deaths, forced more than 48,000 refugees into Tanzania, and displaced 140,000 others internally. Only one in two children go to school, and approximately one in 15 adults has HIV/AIDS. Food, medicine, and electricity remain in short supply. Less than 2% of the population has electricity in its homes. Burundi's GDP grew around 4% annually in 2006-11. Political stability and the end of the civil war have improved aid flows and economic activity has increased, but underlying weaknesses - a high poverty rate, poor education rates, a weak legal system, a poor transportation network, overburdened utilities, and low administrative capacity - risk undermining planned economic reforms. The purchasing power of most Burundians has decreased as wage increases have not kept up with inflation. Burundi will remain heavily dependent on aid from bilateral and multilateral donors - foreign aid represents 42% of Burundi's national income, the second highest rate in Sub-Saharan Africa; the delay of funds after a corruption scandal cut off bilateral aid in 2007 reduced government's revenues and its ability to pay salaries. Burundi joined the East African Community, which should boost Burundi's regional trade ties, and received $700 million in debt relief in 2009. Government corruption is also hindering the development of a healthy private sector as companies seek to navigate an environment with ever changing rules.
Source cia
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COMPANY REPORTED: |
REPUBLIQUE DU BURUNDI |
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Trade Names: |
MINISTERE DE LA DEFENSE NATIONAL ET DES ANCIENS COMBATTANTS |
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Principal Address: |
Ministere De La Defense National Et Des Anciens Combattants Direction
Generale Des Approvision Nements E7 De Lagestion Bujumbura Ville, Burundi |
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Telephone: |
+257-22-225892/263226 |
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Fax: |
+257-22214758 |
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Email: |
None |
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Internet: |
None |
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Established: |
1906 |
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Registration: |
Burundi |
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Legal Form: |
State Corporation |
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Stock Listing: |
Not Listed |
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Workforce: |
2011 |
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15000 |
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Office & Factories |
||||
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Head offices |
Ministere De La Defense National Et Des Anciens Combattants Direction
Generale Des Approvision Nements E7 De Lagestion Bujumbura Ville, Burundi |
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Branches |
None |
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Management/
Directors |
|
Minister (1) |
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Name |
Maj.Gen. Germain
Niyoyankana |
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Active in daily business: |
Active |
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Current Title: |
Minister |
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Country of residence |
Burundi |
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Remarks |
Top Decision Maker |
|
Director (2) |
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Name |
Major Désiré
Bankuwunguka |
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Active in daily business: |
Active |
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Current Title: |
Director |
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Country of residence |
Burundi |
· 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.
No negative information found
|
Share Capital |
|
|
Budget Capital |
USD. 1,000,000 |
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Shareholders |
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|
Name |
Position |
Amount |
Ratio |
|
Maj.Gen. Germain Niyoyankana |
Minister |
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Major Désiré Bankuwunguka |
Director |
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Général-Major Cyprien Hakiza |
Inspector General |
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Général de Brigade Philbert Habarugira |
GM |
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Colonel Oscar Nzohabonimana |
Chief Inspector |
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Government of Burundi |
Shareholder |
|
100.00% |
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Total |
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|
100.00% |
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Terms of payment |
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Buying
terms |
100% tenders |
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Selling
terms |
100%
tenders |
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Suppliers |
Various |
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Customers |
Public |
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Recent
Income |
USD. 200,000,000 (2011 Estimated) |
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Affiliated Companies |
None |
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Exchange Rate |
US$ 1 = BIF. 1500.01 |
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Established: |
1906 |
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Registration: |
Burundi |
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Legal Form: |
State Corporation |
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Stock Listing: |
Not Listed |
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Workforce: |
2011 |
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|
|
|
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|
15000 |
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|
|
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|
Office & Factories |
|||||
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Head offices |
Ministere De La Defense National Et Des Anciens Combattants Direction
Generale Des Approvision Nements E7 De Lagestion Bujumbura Ville, Burundi |
||||
|
Branches |
None |
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|
Business Activities |
Formulation and facilitation
of defence policies and national veterans in Burundi |
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Business Premises |
250,000 Sft |
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Type of occupation
|
Owned |
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Location |
The subject is located close to a major road network |
|
Premises used as
|
Offices, Barrack |
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Banking relationship |
|
|
Main
Banks |
Banque de la République du Burundi |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.53 |
|
UK Pound |
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.70.89 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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 |
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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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.