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Report Date : |
26.12.2012 |
IDENTIFICATION DETAILS
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Name : |
NIGER TRADERS |
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Registered Office : |
BP 11619 Niamey, Niger Africa |
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Country : |
Niger |
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Date of Incorporation : |
11.04.2007 |
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Legal Form : |
Limited Liability Company, Limited by shares |
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Line of Business : |
Exporters of
agricultural products such as seedsn flowers, nuts, spices and other related
products |
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No. of Employees : |
30 |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Niger |
C1 |
C1 |
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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 |
NIGER - ECONOMIC OVERVIEW
Niger is a landlocked, Sub-Saharan
nation, whose economy centers on subsistence crops, livestock, and some of the
world's largest uranium deposits. Agriculture contributes about 40% of GDP and
provides livelihood for about 80% of the population. Niger also has sizable
reserves of oil, and oil production, refining, and exports are expected to grow
significantly between 2011 and 2016. Drought, desertification, and strong
population growth have undercut the economy. Niger shares a common currency,
the CFA franc, and a common central bank, the Central Bank of West African
States (BCEAO), with seven other members of the West African Monetary Union. In
December 2000, Niger qualified for enhanced debt relief under the International
Monetary Fund program for Highly Indebted Poor Countries (HIPC) and concluded
an agreement with the Fund on a Poverty Reduction and Growth Facility (PRGF).
Debt relief provided under the enhanced HIPC initiative significantly reduced
Niger's annual debt service obligations, freeing funds for expenditures on basic
health care, primary education, HIV/AIDS prevention, rural infrastructure, and
other programs geared at poverty reduction. In December 2005, Niger received
100% multilateral debt relief from the IMF, which translated into the
forgiveness of approximately US$86 million in debts to the IMF, excluding the
remaining assistance under HIPC. The economy was hurt when the international
community cut off non-humanitarian aid in response to TANDJA's moves to extend
his term as president. Nearly half of the government's budget is derived from
foreign donor resources. Future growth may be sustained by exploitation of oil,
gold, coal, and other mineral resources. The government has announced an
expansionary budget for 2012 with anticipated revenue increases from uranium,
oil production, and donor aid, and it has made efforts to secure a new
three-year extended credit facility with the IMF following the one that
completed in 2011. Food security remains a problem in the north of the country,
exacerbated by the return of the Libyan migrants.
Source : CIA
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COMPANY REPORTED: |
NIGER TRADERS |
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Principal Address: |
BP 11619 Niamey, Niger
Africa |
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Telephone: |
+227-2034490 |
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Fax: |
+227-20344599 |
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Email: |
rahina@nigertraders.com |
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Internet: |
www.nigertraders.com |
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Established: |
11/04/2007 |
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Registration: |
Niger Africa |
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Legal Form: |
Limited Liability
Company, Limited by shares |
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Stock Listing: |
Not Listed |
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Workforce: |
2011 |
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30 |
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Office & Factories |
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Head offices |
Immeulbeader Niamey,
Niger Africa |
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Branches |
Office in USA |
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Management/
Directors |
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President/
CEO (1) |
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Name |
Mrs.
Rahina Boureima Spaulding |
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Active
in daily business: |
Active |
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Current
Title: |
President |
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Country of residence |
Niger |
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Remarks |
Top Decision Maker |
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Director
(2) |
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Name |
Mr.
Boureima Boubacar |
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Active
in daily business: |
Active |
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Current
Title: |
Vice
President |
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Country of residence |
Niger |
No negative information
found.
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Company Profile: |
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Nominal Capital |
CFA.
1,000,000 |
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Paid in Capital |
CFA.
1,000,000 |
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Subscribed Capital |
CFA.
1,000,000 |
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Shareholders |
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Name |
Position |
Amount
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Ratio |
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Mrs.
Rahina Boureima Spaulding |
President |
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Mr.
Boureima Boubacar |
VP |
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Mr.
Omar Boureima |
Manager |
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Mr. Moctar Boureima |
Manager |
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Ms.
Roumanatou Boureima |
Manager |
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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 |
70% in cash, 30% on LC,
TT |
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Suppliers |
Farmers |
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Customers |
Stores,
outlets, firms and organziations |
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Recent
Sales |
CFA.
858,000,000 (2011 Estimated) |
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Exports |
Worldwide |
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Export
Ratio |
20.0% |
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Import
Ratio |
10.0% |
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Domestic
Market Share |
20.0% |
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Affiliated Companies |
None |
N/a
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Exchange Rate |
US$ 1 = CFA. 496.60 |
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Business Activities |
Exporters
of agricultural products such as seedsn flowers, nuts, spices and other
related products |
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Business Premises |
5000 Sft |
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Type of occupation
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Leased |
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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 |
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Banking
relationship |
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Main
Banks |
BOA BANK |
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Credit Check of Subject,
President & CEO (as of report date) |
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Payment Morale: |
In the documents at our disposal nothing
adverse has been shown so far. |
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CREDIT RATING: |
Financial situation is
average. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.08 |
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1 |
Rs.89.09 |
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Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.