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Report Date : |
04.10.2012 |
IDENTIFICATION DETAILS
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Name : |
SOLIDARITY |
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Registered Office : |
B.P 23311 |
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Country : |
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Date of Incorporation : |
15.12.2010 |
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Legal Form : |
Non Governmental Organization |
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Line of Business : |
Humanitarian action and Economic development
in the society |
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No. of Employees : |
45 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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) |
|
Togo |
C2 |
C2 |
|
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 |
TOGO - ECONOMIC OVERVIEW
This small, sub-Saharan economy suffers from anemic
economic growth and depends heavily on both commercial and subsistence
agriculture, which provides employment for a significant share of the labor
force. Some basic foodstuffs must still be imported. Cocoa, coffee, and cotton
generate about 40% of export earnings with cotton being the most important cash
crop. Togo is among the world's largest producers of phosphate and Togo seeks
to develop its carbonate phosphate reserves. The government's decade-long
effort, supported by the World Bank and the IMF, to implement economic reform
measures, encourage foreign investment, and bring revenues in line with
expenditures has moved slowly. Progress depends on follow through on
privatization, increased openness in government financial operations, progress
toward legislative elections, and continued support from foreign donors.
Foreign direct investment inflows have slowed over recent years. Togo completed
its IMF Extended Credit Facility in 2011 and reached a HIPC debt relief
completion point in 2010 at which 95% of the country's debt was forgiven. Togo
continues to work with the IMF on structural reforms
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Source
: CIA |
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COMPANY REPORTED: |
SOLIDARITY AFRICA ECONOMIC
PROJECT ORGANIZATION (SAEPO) |
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Principal Address: |
B.P 23311 Lome,
Togo (West Africa) |
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Telephone: |
+228-91280229/230/98175784 /
785 |
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Fax: |
+228-2219933/91175784 |
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Email: |
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Internet: |
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Established: |
15/12/2010 |
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Registration: |
Lome, Togo(West Africa) |
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Legal Form: |
Non Governmental Organization |
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Stock Listing: |
Not Listed |
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Workforce: |
2011 |
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45 |
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Office & Factories |
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Head offices |
Co-operative Building, Ru De La saepo Kara, Northern Tologaise, Angle Avenue De La Presidence,
Lome, Togo, (West Africa) |
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Branches |
None |
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Management/ Directors |
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President/ CEO (1) |
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Name |
Mbo Ndikum |
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Active in daily business: |
Active |
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Current Title: |
Managing
Director |
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Remarks |
Top Decision Maker |
No negative information found.
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Company Profile: |
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Nominal Capital |
CFA.
80,000,000 |
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Paid in Capital |
CFA.
80,000,000 |
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Subscribed Capital |
CFA.
80,000,000 |
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Shareholders |
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Name |
Position |
Amount
|
Ratio |
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Mbo Ndikum |
Director |
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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 tenders |
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Recent Budget |
CFA. 1,250,000,000 (2011 Estimated) |
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Affiliated Companies |
None |
N/a
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Exchange Rate |
US$ 1 = CFA. 507.31 |
|
Activities |
Humanitarian
action and Economic development in the society |
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Business Premises |
2000 Sft
|
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Type of occupation
|
Leased |
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Location |
The subject is located close
to a major road network
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Premises used as |
Offices |
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Banking relationship |
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Main Banks |
Eco bank |
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Credit Check of Subject,
President & CEO (as of report date) |
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Payment Morale: |
400: In the documents at our
disposal nothing adverse has been shown so far. |
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CREDIT RATING: |
600: High risk of bankruptcy. |
Company documents could not be
found with the registry of societies , this NGO informnation
was obtained from company directors . commercial morality of directors is
doubtful. We recommend secured credit at any one time.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.33 |
|
|
1 |
Rs.84.30 |
|
Euro |
1 |
Rs.67.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
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.