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Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
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Name : |
METAL AFRIQUE SA |
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Registered Office : |
BP 3556/196, Dakar |
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Country : |
Senegal |
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Date of Incorporation : |
16.12.1998 |
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Com. Reg. No.: |
93B168 Senegal |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Dealers in metals such as non-alloy steel, iron
etc |
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No. of Employees : |
60 employees |
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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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) |
|
Senegal |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
senegal - ECONOMIC OVERVIEW
senegal relies heavily on donor assistance. The country's key export industries are phosphate mining, fertilizer production, and commercial fishing. The country is also working on iron ore and oil exploration projects. In January 1994, Senegal undertook a bold and ambitious economic reform program with the support of the international donor community. Government price controls and subsidies have been steadily dismantled. After seeing its economy contract by 2.1% in 1993, Senegal made an important turnaround, thanks to the reform program, with real growth in GDP averaging over 5% annually during 1995-2007. Annual inflation had been pushed down to the single digits. The country was adversely affected by the global economic downturn in 2009, when GDP growth fell to 2.2%. As a member of the West African Economic and Monetary Union, Senegal is working toward greater regional integration with a unified external tariff and a more stable monetary policy. High unemployment, however, continues to prompt migrants to flee Senegal in search of better job opportunities in Europe. Under the IMF''s Highly Indebted Poor Countries (HIPC) debt relief program, Senegal benefited from eradication of two-thirds of its bilateral, multilateral, and private-sector debt. In 2007, Senegal and the IMF agreed to a new, non-disbursing, Policy Support Initiative program which was completed in 2010. The IMF approved a new three-year policy support instrument in December 2010 to assist with economic reforms. Senegal receives disbursements from the $540 million Millennium Challenge Account compact it signed in September 2009 for infrastructure and agriculture development. In 2010, the Senegalese people protested against frequent power cuts. The government pledged to expand power capacity by 2012 and to promote renewable energy, but until Senegal has more capacity, more protests are likely. Foreign investment in Senegal is retarded by Senegal''s unfriendly business environment.
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Source : CIA |
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COMPANY REPORTED: |
METAL AFRIQUE SA |
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Principal Address: |
BP 3556/196, Dakar Senegal |
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Telephone: |
+221-33-8493949 |
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Fax: |
+221-33-8321925 |
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Email: |
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Internet: |
None |
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Established: |
16/12/1998 |
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Registration: |
93B168 Senegal |
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Legal Form: |
Societe Anonyme |
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Stock Listing: |
Not Listed |
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Workforce: |
2011 |
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60 |
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Office & Factories |
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Head offices |
KM 4.5 Boulevard du Centenaire de la Commune, Rue 6 Route De Rufisque,
Dakar, Senegal |
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Branches |
None |
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Management/
Directors |
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President/ CEO (1) |
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Name |
Mr. M. Diouf |
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Active in daily
business: |
Active |
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Current Title: |
Director |
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Country of residence |
Senegal |
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Remarks |
Top Decision Maker |
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Director (2) |
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Name |
Mr. A. Fares |
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Active in daily
business: |
Active |
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Current Title: |
Director |
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Country of residence |
Senegal |
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
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Share Capital |
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Nominal Capital |
CFA. 10,000,000 |
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Paid in Capital |
CFA. 10,000,000 |
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Subscribed Capital |
CFA. 10,000,000 |
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Shareholders
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|
Name |
Position |
Amount |
Ratio |
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Mr. M. Diouf |
Director |
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Mr. A. Fares |
Director |
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Mr. Malick Mbengue |
Manager |
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Mr. Mohammed Bennani |
Manager |
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Ms. Fatou Ndiaye |
Admin |
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Total |
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100.00% |
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Terms of payment |
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Buying
terms |
30%
in cash, 70% on credit |
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Selling
terms |
80%
in cash, 20% on credit |
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Suppliers |
None
Stated |
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Customers |
firms and organizations |
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Recent
Sales |
CFA.
1,050,000,000 (2011 Estimated) |
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Exports |
None |
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Export
Ratio |
0.0% |
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Import
Ratio |
50.0% |
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Domestic
Market Share |
20.0% |
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Affiliated Companies |
None |
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Exchange Rate |
US$ 1 = CFA. 506.18 |
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Established: |
16/12/1998 |
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Registration: |
93B168 Senegal |
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Legal Form: |
Societe Anonyme |
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Stock Listing: |
Not Listed |
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Workforce: |
2011 |
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60 |
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Office & Factories |
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Head offices |
KM 4.5 Boulevard du Centenaire de la Commune, Rue 6 Route De Rufisque,
Dakar, Senegal |
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Branches |
None |
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Business Activities |
Dealers in metals
such as non-alloy steel, iron etc |
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Business Premises |
2000 Sft |
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Type of occupation
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Owned |
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Location |
The subject is located close to a major road network |
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Premises used as
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Offices, Warehouse, Workshop |
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Banking relationship |
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|
Main
Banks |
ECO BANK |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.23 |
|
UK Pound |
1 |
Rs.87.53 |
|
Euro |
1 |
Rs.70.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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---- |
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.